Fjarde Ap-Fonden /Fourth Swedish National Pension Fund
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Fjarde Ap-Fonden /Fourth Swedish National Pension Fund reported 531 stock positions worth $9.9 billion. Its top holding was Apple (AAPL) at 6.8% of the portfolio, followed by Nvidia (NVDA, 5.8%) and Microsoft (MSFT, 5.4%). Compared with Q3 2024, it opened 17 new positions, sold out of 13, added to 199 and reduced 304. The biggest buy was Apple (AAPL, shares +3%) and the biggest sale Coca-Cola (KO, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- STOCKHOLM, V7
- CIK
- 0001540880
- Portfolio Value
- $9.9B (Q4 2024)
- SEC Filing
- 0001540880-25-000001 ↗ filed Feb 4, 2025
Holdings Value
Holdings 531 stocks · $9.9B
| AAPL Apple Inc. | 6.82% | 2,695,399 | $675.0M | Add +2.7% |
| NVDA Nvidia Corp. | 5.85% | 4,308,449 | $578.6M | Reduce -4.8% |
| MSFT Microsoft Corp. | 5.38% | 1,261,880 | $531.9M | Reduce -0.5% |
| AMZN Amazon.com Inc. | 3.41% | 1,539,246 | $337.7M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 2.60% | 439,798 | $257.5M | Reduce -3.7% |
| GOOGL Alphabet Inc. Class A | 2.10% | 1,096,220 | $207.5M | Reduce -0.7% |
| TSLA Tesla Inc. | 1.91% | 468,762 | $189.3M | Reduce -2.3% |
| GOOG Alphabet Inc. Class C | 1.84% | 955,673 | $182.0M | Reduce -0.9% |
| AVGO Broadcom Inc. | 1.66% | 708,490 | $164.3M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 1.36% | 174,614 | $134.8M | Reduce -0.5% |
| V Visa Inc. Class A | 1.27% | 397,383 | $125.6M | Add +6.0% |
| PG The Procter & Gamble Co. | 1.26% | 742,434 | $124.5M | Add +6.8% |
| JNJ Johnson & Johnson | 1.13% | 773,613 | $111.9M | Add +0.7% |
| JPM JPMorgan Chase & Co. | 1.10% | 455,314 | $109.1M | Reduce -4.4% |
| UNH Unitedhealth Group Inc. | 1.07% | 208,818 | $105.6M | Add +1.2% |
| MA Mastercard Inc. Class A | 0.96% | 180,139 | $94.9M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.95% | 207,359 | $94.0M | Reduce -0.9% |
| HD Home Depot Inc. | 0.93% | 237,109 | $92.2M | Reduce -2.1% |
| MRK Merck & Co. Inc. | 0.88% | 872,029 | $86.7M | Add +55.9% |
| ABBV Abbvie Inc. | 0.86% | 477,584 | $84.9M | Reduce -0.7% |
| COST Costco Wholesale Corp. | 0.84% | 90,256 | $82.7M | Reduce -3.4% |
| NFLX Netflix Inc. | 0.81% | 90,086 | $80.3M | Reduce -0.6% |
| WMT Walmart Inc. | 0.80% | 880,000 | $79.5M | Reduce -3.4% |
| CSCO Cisco Systems Inc. | 0.80% | 1,335,268 | $79.0M | Reduce -8.3% |
| KO The Coca-Cola Co. | 0.77% | 1,226,106 | $76.3M | Reduce -9.9% |
| PEP Pepsico Inc. | 0.70% | 453,908 | $69.0M | Add +4.1% |
| MCD McDonald's Corp. | 0.65% | 220,370 | $63.9M | Reduce -2.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.58% | 262,881 | $57.8M | Reduce -7.0% |
| BKR Baker Hughes Co. | 0.55% | 1,324,103 | $54.3M | Add +31.1% |
| ACN Accenture PLC Class A | 0.54% | 152,958 | $53.8M | Reduce -1.3% |
| CRM Salesforce Inc. | 0.53% | 156,655 | $52.4M | Reduce -0.6% |
| VZ Verizon Communications Inc. | 0.51% | 1,257,382 | $50.3M | Reduce -4.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.51% | 1,136,370 | $49.9M | Reduce -3.8% |
| LIN Linde PLC | 0.49% | 116,596 | $48.8M | Reduce -2.6% |
| ORCL Oracle Corp. | 0.49% | 292,068 | $48.7M | Reduce -4.1% |
| TXN Texas Instruments Inc. | 0.48% | 253,731 | $47.6M | Reduce -10.7% |
| ADBE Adobe Inc. | 0.43% | 96,523 | $42.9M | Reduce -3.6% |
| BLK BlackRock Inc. | 0.43% | 41,261 | $42.3M | Reduce -4.6% |
| LNG Cheniere Energy Inc. | 0.40% | 183,390 | $39.4M | Add +89.9% |
| WFC Wells Fargo & Co. | 0.40% | 560,945 | $39.4M | Reduce -2.8% |
| NOW ServiceNow Inc. | 0.40% | 36,956 | $39.2M | Add +6.6% |
| QCOM Qualcomm Inc. | 0.38% | 241,834 | $37.2M | Reduce -2.6% |
| CAT Caterpillar Inc. | 0.37% | 100,446 | $36.4M | Reduce -9.1% |
| AMGN Amgen Inc. | 0.37% | 139,329 | $36.3M | Reduce -3.9% |
| PFE Pfizer Inc. | 0.36% | 1,343,771 | $35.6M | Reduce -1.2% |
| INTU Intuit Inc. | 0.36% | 56,640 | $35.6M | Reduce -3.1% |
| CMCSA Comcast Corp. Class A | 0.36% | 946,491 | $35.5M | Reduce -1.8% |
| ISRG Intuitive Surgical Inc. | 0.36% | 67,979 | $35.5M | Reduce -2.7% |
| PGR Progressive Corp. | 0.36% | 147,670 | $35.4M | Add +7.2% |
| T AT&T Inc. | 0.35% | 1,509,370 | $34.4M | Add +7.8% |
| TMUS T-Mobile US Inc. | 0.34% | 153,054 | $33.8M | Reduce -10.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 296,100 | $33.0M | Reduce -5.2% |
| ABT Abbott Laboratories | 0.33% | 289,388 | $32.7M | Add +2.3% |
| MRSH Marsh & McLennan Cos | 0.33% | 153,931 | $32.7M | Add +3.2% |
| AMD Advanced Micro Devices | 0.32% | 261,802 | $31.6M | Reduce -3.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.32% | 258,868 | $31.3M | Reduce -4.7% |
| TMO Thermo Fisher Scientific Inc. | 0.31% | 59,865 | $31.1M | Reduce -4.2% |
| CL Colgate-Palmolive Co. | 0.31% | 334,284 | $30.4M | Add +41.3% |
| AXP American Express Co. | 0.30% | 100,863 | $29.9M | Add +3.3% |
| AMAT Applied Materials Inc. | 0.30% | 180,472 | $29.4M | Reduce -1.7% |
| CB Chubb Ltd. | 0.30% | 106,164 | $29.3M | Add +2.8% |
| GS Goldman Sachs Group Inc. | 0.29% | 49,725 | $28.5M | Reduce -11.9% |
| BX Blackstone Inc. | 0.29% | 163,561 | $28.2M | Reduce -1.5% |
| BKNG Booking Holdings Inc. | 0.28% | 5,607 | $27.9M | Reduce -12.5% |
| ADP Automatic Data Processing | 0.28% | 94,817 | $27.8M | Reduce -11.2% |
| SPGI S&P Global Inc. | 0.28% | 55,100 | $27.4M | Reduce -4.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.28% | 68,088 | $27.4M | Reduce -5.4% |
| GE General Electric filed as GE AEROSPACE | 0.27% | 160,765 | $26.8M | Reduce -26.2% |
| GILD Gilead Sciences Inc. | 0.27% | 287,363 | $26.5M | Reduce -3.6% |
| PLTR Palantir Technologies Inc. Class A | 0.26% | 335,723 | $25.4M | Reduce -3.0% |
| ANET Arista Networks Inc. | 0.25% | 224,084 | $24.8M | Reduce -4.2% |
| PANW Palo Alto Networks Inc. | 0.25% | 134,696 | $24.5M | Add +6.3% |
| CME Cme Group Inc. | 0.25% | 105,145 | $24.4M | Add +4.4% |
| BMY Bristol-Myers Squibb Co. | 0.24% | 426,306 | $24.1M | Reduce -15.7% |
| SBUX Starbucks Corp. | 0.24% | 263,295 | $24.0M | Add +4.9% |
| NEE Nextera Energy Inc. | 0.24% | 334,534 | $24.0M | Reduce -10.6% |
| MS Morgan Stanley | 0.24% | 189,333 | $23.8M | Reduce -10.3% |
| SHW The Sherwin-Williams Co. | 0.24% | 69,945 | $23.8M | Add +7.5% |
| DHR Danaher Corp. | 0.24% | 102,772 | $23.6M | Reduce -10.9% |
| MDT Medtronic PLC | 0.24% | 292,879 | $23.4M | Reduce -14.1% |
| LOW Lowe's Cos Inc. | 0.23% | 94,105 | $23.2M | Reduce -7.4% |
| MCK McKesson Corp. | 0.23% | 40,553 | $23.1M | Reduce -6.0% |
| C Citigroup Inc. | 0.23% | 327,864 | $23.1M | Add +1.9% |
| ROP Roper Technologies Inc. | 0.23% | 44,298 | $23.0M | Reduce -7.1% |
| BSX Boston Scientific Corp. | 0.23% | 255,558 | $22.8M | Reduce -6.8% |
| FISV Fiserv Inc. | 0.22% | 107,283 | $22.0M | Add +13.4% |
| REGN Regeneron Pharmaceuticals | 0.22% | 30,652 | $21.8M | Reduce -1.0% |
| MDLZ Mondelez International Inc. Class A | 0.22% | 362,930 | $21.7M | Add +15.5% |
| SCHW Schwab (charles) Corp. | 0.21% | 285,360 | $21.1M | Add +9.9% |
| MRVL Marvell Technology Inc. | 0.21% | 187,147 | $20.7M | Reduce -2.7% |
| UNP Union Pacific Corp. | 0.21% | 90,623 | $20.7M | Add +46.6% |
| MCO Moody's Corp. | 0.21% | 42,843 | $20.3M | Add +15.0% |
| LRCX Lam Research Corp. | 0.20% | 280,160 | $20.2M | Reduce -2.1% |
| AON Aon PLC Class A | 0.20% | 55,685 | $20.0M | Add +27.5% |
| NKE Nike Inc. Class B | 0.20% | 262,892 | $19.9M | Reduce -3.3% |
| SYK Stryker Corp. | 0.20% | 54,483 | $19.6M | Reduce -6.2% |
| APH Amphenol Corp. Class A | 0.19% | 276,464 | $19.2M | Reduce -15.1% |
| AFL Aflac Inc. | 0.19% | 183,974 | $19.0M | Reduce -5.5% |
| ORLY O'reilly Automotive Inc. | 0.19% | 15,829 | $18.8M | Add +1.3% |
| ETN Eaton Corp. PLC | 0.19% | 56,405 | $18.7M | Reduce -8.1% |
Portfolio Sells Q3 2024 → Q4 2024
| KO The Coca-Cola Co. | Reduce -9.9% | 0.77% | −0.23 |
| LLY Eli Lilly & Co. | Reduce -0.5% | 1.36% | −0.22 |
| MSFT Microsoft Corp. | Reduce -0.5% | 5.38% | −0.19 |
| GE General Electric | Reduce -26.2% | 0.27% | −0.15 |
| AMD Advanced Micro Devices | Reduce -3.4% | 0.32% | −0.13 |
| TXN Texas Instruments Inc. | Reduce -10.7% | 0.48% | −0.12 |
| REGN Regeneron Pharmaceuticals | Reduce -1.0% | 0.22% | −0.11 |
| ABBV Abbvie Inc. | Reduce -0.7% | 0.86% | −0.11 |
| AMGN Amgen Inc. | Reduce -3.9% | 0.37% | −0.11 |
| VZ Verizon Communications Inc. | Reduce -4.8% | 0.51% | −0.10 |
| ADBE Adobe Inc. | Reduce -3.6% | 0.43% | −0.09 |
| ELV Elevance Health Inc. | Reduce -5.3% | 0.19% | −0.09 |
| AVY Avery Dennison Corp. | Reduce -75.5% | 0.02% | −0.09 |
| DHR Danaher Corp. | Reduce -10.9% | 0.24% | −0.09 |
| LIN Linde PLC | Reduce -2.6% | 0.49% | −0.09 |
| IFF Intl Flavors & Fragrances | Reduce -44.4% | 0.07% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -1.7% | 0.30% | −0.08 |
| NEE Nextera Energy Inc. | Reduce -10.6% | 0.24% | −0.08 |
| TMO Thermo Fisher Scientific Inc. | Reduce -4.2% | 0.31% | −0.08 |
| WM Waste Management Inc. | Reduce -27.0% | 0.18% | −0.08 |
| MDT Medtronic PLC | Reduce -14.1% | 0.24% | −0.08 |
| CAT Caterpillar Inc. | Reduce -9.1% | 0.37% | −0.07 |
| HD Home Depot Inc. | Reduce -2.1% | 0.93% | −0.07 |
| EIX Edison International | Reduce -24.7% | 0.15% | −0.07 |
| CVS CVS Health Corp. | Reduce -5.0% | 0.14% | −0.07 |
| CI The Cigna Group | Reduce -13.5% | 0.14% | −0.06 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -5.4% | 0.28% | −0.06 |
| META Meta Platforms Inc. Class A | Reduce -3.7% | 2.60% | −0.06 |
| HIG Hartford Insurance Group Inc. | Reduce -53.5% | 0.05% | −0.06 |
| KDP Keurig Dr Pepper Inc. | Reduce -20.9% | 0.12% | −0.06 |
| ACI Albertsons Cos Inc. Class A | Reduce -79.7% | 0.02% | −0.06 |
| MCD McDonald's Corp. | Reduce -2.6% | 0.65% | −0.06 |
| DHI D.R. Horton Inc. | Reduce -17.5% | 0.08% | −0.06 |
| QCOM Qualcomm Inc. | Reduce -2.6% | 0.38% | −0.06 |
| KEYS Keysight Technologies Inc. | Reduce -44.1% | 0.07% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -7.0% | 0.58% | −0.05 |
| PRU Prudential Financial Inc. | Reduce -54.3% | 0.04% | −0.05 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -1.8% | 0.36% | −0.05 |
| MU Micron Technology Inc. | Reduce -8.4% | 0.14% | −0.05 |
| WY Weyerhaeuser Co. | Reduce -61.1% | 0.02% | −0.05 |
| LOW Lowe's Cos Inc. | Reduce -7.4% | 0.23% | −0.05 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.05 |
| FTV Fortive Corp. | Reduce -53.7% | 0.04% | −0.05 |
| NKE Nike Inc. Class B | Reduce -3.3% | 0.20% | −0.04 |
| YUM Yum! Brands Inc. | Reduce -20.8% | 0.14% | −0.04 |
| KHC The Kraft Heinz Co. | Reduce -19.4% | 0.10% | −0.04 |
| PHM Pultegroup Inc. | Reduce -31.9% | 0.04% | −0.04 |
| HUM Humana Inc. | Reduce -22.6% | 0.07% | −0.04 |
| CAG Conagra Brands Inc. | Reduce -52.3% | 0.03% | −0.04 |
Portfolio Buys Q3 2024 → Q4 2024
| AAPL Apple Inc. | Add +2.7% | 6.82% | +0.59 |
| MRK Merck & Co. Inc. | Add +55.9% | 0.88% | +0.23 |
| LNG Cheniere Energy Inc. | Add +89.9% | 0.40% | +0.22 |
| V Visa Inc. Class A | Add +6.0% | 1.27% | +0.22 |
| BKR Baker Hughes Co. | Add +31.1% | 0.55% | +0.18 |
| MAR Marriott International Class A | New | 0.10% | +0.10 |
| HLT Hilton Worldwide Holdings Inc. | New | 0.09% | +0.09 |
| SW Smurfit Westrock PLC | New | 0.08% | +0.08 |
| D Dominion Energy Inc. | New | 0.08% | +0.08 |
| NOW ServiceNow Inc. | Add +6.6% | 0.40% | +0.08 |
| FERG Ferguson Enterprises Inc. | New | 0.07% | +0.07 |
| CTVA Corteva Inc. | Add +2639.8% | 0.07% | +0.06 |
| WELL Welltower Inc. | Add +63.6% | 0.16% | +0.06 |
| CL Colgate-Palmolive Co. | Add +41.3% | 0.31% | +0.06 |
| MA Mastercard Inc. Class A | Add +0.3% | 0.96% | +0.05 |
| UNP Union Pacific Corp. | Add +46.6% | 0.21% | +0.05 |
| TYL Tyler Technologies Inc. | Add +129.2% | 0.10% | +0.05 |
| MLM Martin Marietta Materials | New | 0.05% | +0.05 |
| CVNA Carvana Co. | New | 0.05% | +0.05 |
| FISV Fiserv Inc. | Add +13.4% | 0.22% | +0.05 |
| AON Aon PLC Class A | Add +27.5% | 0.20% | +0.05 |
| WTW Willis Towers Watson PLC | Add +86.6% | 0.09% | +0.05 |
| AMCR Amcor PLC | New | 0.05% | +0.05 |
| NTNX Nutanix Inc. Class A | New | 0.04% | +0.04 |
| SCHW Schwab (charles) Corp. | Add +9.9% | 0.21% | +0.04 |
| GLW Corning Inc. | Add +61.9% | 0.10% | +0.04 |
| IEX Idex Corp. | Add +116.4% | 0.08% | +0.04 |
| DLR Digital Realty Trust Inc. | Add +55.9% | 0.10% | +0.04 |
| GGG Graco Inc. | Add +110.5% | 0.08% | +0.04 |
| WAB Wabtec Corp. | Add +77.9% | 0.08% | +0.04 |
| VMC Vulcan Materials Co. | Add +60.0% | 0.09% | +0.04 |
| PYPL PayPal Holdings Inc. | Add +17.0% | 0.17% | +0.04 |
| RBLX Roblox Corp. Class A | Add +68.5% | 0.06% | +0.03 |
| SMCI Super Micro Computer Inc. | New | 0.03% | +0.03 |
| ALL Allstate Corp. | Add +30.1% | 0.14% | +0.03 |
| GDDY GoDaddy Inc. Class A | Add +6.5% | 0.14% | +0.03 |
| T AT&T Inc. | Add +7.8% | 0.35% | +0.03 |
| EXC Exelon Corp. | Add +1451.9% | 0.04% | +0.03 |
| TDY Teledyne Technologies Inc. | Add +46.9% | 0.09% | +0.03 |
| AXP American Express Co. | Add +3.3% | 0.30% | +0.03 |
| XYL Xylem Inc. | Add +94.9% | 0.08% | +0.03 |
| PG The Procter & Gamble Co. | Add +6.8% | 1.26% | +0.03 |
| EMN Eastman Chemical Co. | New | 0.03% | +0.03 |
| AXON Axon Enterprise Inc. | Add +16.2% | 0.07% | +0.03 |
| FFIV F5 Inc. | Add +33.5% | 0.09% | +0.03 |
| GLPI Gaming and Leisure Propertie | Add +118.4% | 0.06% | +0.03 |
| FTNT Fortinet Inc. | Add +7.0% | 0.13% | +0.03 |
| AJG Arthur J Gallagher & Co. | Add +19.6% | 0.18% | +0.03 |
| C Citigroup Inc. | Add +1.9% | 0.23% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +6.3% | 0.25% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 525 | $20.9B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 538 | $18.3B | NVDA, AAPL, MSFT, AMZN, IEMG |
| Q4 2025 | 499 | $11.9B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 465 | $11.6B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 494 | $10.8B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 527 | $8.3B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 531 | $9.9B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 527 | $9.8B | AAPL, NVDA, MSFT, AMZN, META |
| Q1 2024 | 535 | $9.0B | MSFT, AAPL, NVDA, AMZN, META |