# EDGAR Filing Document

**Accession Number:** 0001730464
**File Stem:** 0000950103-26-002133
**Filing Date:** 2026-2
**Character Count:** 12047
**Document Hash:** c9b40612b5a493024242112b464ad649
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-26-002133.hdr.sgml**: 20260416

**ACCESSION NUMBER**: 0000950103-26-002133

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nan Shan Life Insurance Co., Ltd.
- **CENTRAL INDEX KEY:** 0001730464

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** F5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18345
- **FILM NUMBER:** 26633760

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO. 168 ZHUANG JING ROAD
- **STREET 2:** XINYI DISTRICT
- **CITY:** TAIPEI CITY
- **PROVINCE COUNTRY:** F5
- **ZIP:** 11049
- **BUSINESS PHONE:** 886-2-8758-8888

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO. 168 ZHUANG JING ROAD
- **STREET 2:** XINYI DISTRICT
- **CITY:** TAIPEI CITY
- **PROVINCE COUNTRY:** F5
- **ZIP:** 11049

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Nan Shan Life Insurance Co. Ltd.<br>**Address:** No. 168 ZHUANG JING ROAD<br>XINYI DISTRICT<br>Taipei City, F5 11049

**Form 13F File Number:** 028-18345

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Brian Tsai<br>**Title:** Chief Finance Officer<br>**Phone:** 886-2-87588942

**Signature, Place, and Date of Signing:**

/s/ Brian Tsai  Taipei City, F5  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 82

**Form 13F Information Table Value Total:** $3250854190

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADOBE INC | COM | 00724F101 |  | 28062548 | 80181 | SH |  | SOLE |  | 80181 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1939219 | 9055 | SH |  | SOLE |  | 9055 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 29175043 | 93211 | SH |  | SOLE |  | 93211 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 11223161 | 48623 | SH |  | SOLE |  | 48623 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 16813637 | 95766 | SH |  | SOLE |  | 95766 | 0 | 0 |
| AMERICOLD REALTY TRUST INC | COM | 03064D108 |  | 9782229 | 760671 | SH |  | SOLE |  | 760671 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 2826257 | 10396 | SH |  | SOLE |  | 10396 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 |  | 52322680 | 687642 | SH |  | SOLE |  | 687642 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 6742194 | 37186 | SH |  | SOLE |  | 37186 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 36147081 | 555340 | SH |  | SOLE |  | 555340 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 21018492 | 605197 | SH |  | SOLE |  | 3631182 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 50690600 | 939759 | SH |  | SOLE |  | 939759 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 16911138 | 48862 | SH |  | SOLE |  | 48862 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 86670344 | 100506 | SH |  | SOLE |  | 100506 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 32620928 | 411050 | SH |  | SOLE |  | 411050 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 2260468 | 14611 | SH |  | SOLE |  | 14611 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 71730734 | 630489 | SH |  | SOLE |  | 630489 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 47076840 | 552221 | SH |  | SOLE |  | 552221 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 532296 | 5069 | SH |  | SOLE |  | 5069 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 13262607 | 210384 | SH |  | SOLE |  | 210384 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 |  | 28461274 | 218563 | SH |  | SOLE |  | 218563 | 0 | 0 |
| FERRARI N V | COM | N3167Y103 |  | 15172062 | 40716 | SH |  | SOLE |  | 40716 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 9427386 | 185615 | SH |  | SOLE |  | 185615 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 10167536 | 82838 | SH |  | SOLE |  | 82838 | 0 | 0 |
| GLOBAL X FDS | RBTCS ARTFL INTE | 37954Y715 |  | 2898400 | 80000 | SH |  | SOLE |  | 0 | 0 | 80000 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 14026699 | 791128 | SH |  | SOLE |  | 791128 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 4916139 | 37482 | SH |  | SOLE |  | 37482 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 49796550 | 1349500 | SH |  | SOLE |  | 1349500 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 20842048 | 36800 | SH |  | SOLE |  | 36800 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 7955870 | 41532 | SH |  | SOLE |  | 41532 | 0 | 0 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 5561349 | 54700 | SH |  | SOLE |  | 54700 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 348437789 | 3997680 | SH |  | SOLE |  | 3997680 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 25621655 | 213194 | SH |  | SOLE |  | 213194 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 103581491 | 1284652 | SH |  | SOLE |  | 1284652 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 15333464 | 77200 | SH |  | SOLE |  | 77200 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 7425019 | 77103 | SH |  | SOLE |  | 77103 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7544459 | 23414 | SH |  | SOLE |  | 23414 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 20265546 | 737197 | SH |  | SOLE |  | 737197 | 0 | 0 |
| KKR REAL ESTATE FIN TR INC | COM | 48251K100 |  | 25156356 | 3060384 | SH |  | SOLE |  | 3060384 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 2463852 | 23528 | SH |  | SOLE |  | 23528 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 527570 | 5132 | SH |  | SOLE |  | 5132 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 42204977 | 496646 | SH |  | SOLE |  | 496646 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 8563200 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 85695524 | 129824 | SH |  | SOLE |  | 129824 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 80222402 | 165879 | SH |  | SOLE |  | 165879 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 75961539 | 810170 | SH |  | SOLE |  | 810170 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 43899503 | 689052 | SH |  | SOLE |  | 689052 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 20270872 | 108691 | SH |  | SOLE |  | 108691 | 0 | 0 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 19538999 | 360831 | SH |  | SOLE |  | 360831 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 25265755 | 432781 | SH |  | SOLE |  | 432781 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 44039435 | 1768652 | SH |  | SOLE |  | 1768652 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 39643272 | 276626 | SH |  | SOLE |  | 276626 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 23777441 | 186256 | SH |  | SOLE |  | 186256 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 15956396 | 61489 | SH |  | SOLE |  | 61489 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 136554518 | 798331 | SH |  | SOLE |  | 798331 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 106838174 | 1895302 | SH |  | SOLE |  | 1895302 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 |  | 20040659 | 517579 | SH |  | SOLE |  | 517579 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 |  | 46941962 | 4306602 | SH |  | SOLE |  | 4306602 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 52102746 | 99701 | SH |  | SOLE |  | 99701 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 37153628 | 140250 | SH |  | SOLE |  | 140250 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 1311860 | 16888 | SH |  | SOLE |  | 16888 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 12538800 | 81000 | SH |  | SOLE |  | 81000 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 78779489 | 514260 | SH |  | SOLE |  | 514260 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 1610614 | 25400 | SH |  | SOLE |  | 25400 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 6469985 | 168577 | SH |  | SOLE |  | 168577 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A664 |  | 290029143 | 10956900 | SH |  | SOLE |  | 10956900 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A698 |  | 15015570 | 231686 | SH |  | SOLE |  | 231686 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A763 |  | 34441543 | 247496 | SH |  | SOLE |  | 247496 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 |  | 7347990 | 60264 | SH |  | SOLE |  | 60264 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R622 |  | 32814791 | 337566 | SH |  | SOLE |  | 337566 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 3484260 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 5408356 | 11514 | SH |  | SOLE |  | 11514 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 44206813 | 254809 | SH |  | SOLE |  | 254809 | 0 | 0 |
| TPG RE FIN TR INC | COM | 87266M107 |  | 24289594 | 2821091 | SH |  | SOLE |  | 2821091 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 39440552 | 119477 | SH |  | SOLE |  | 119477 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 |  | 170943300 | 3063500 | SH |  | SOLE |  | 0 | 0 | 3063500 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 12545111 | 137180 | SH |  | SOLE |  | 0 | 0 | 137180 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 118426711 | 2907604 | SH |  | SOLE |  | 2907604 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 125314645 | 357317 | SH |  | SOLE |  | 357317 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 4099888 | 36800 | SH |  | SOLE |  | 36800 | 0 | 0 |
| WEST PHARMACEUTICAL SVSC INC | COM | 955306105 |  | 30228806 | 109867 | SH |  | SOLE |  | 109867 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 4044357 | 85400 | SH |  | SOLE |  | 85400 | 0 | 0 |

---