Fjarde Ap-Fonden /Fourth Swedish National Pension Fund

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 27, 2026), Fjarde Ap-Fonden /Fourth Swedish National Pension Fund reported 538 stock positions worth $18.3 billion. Its top holding was Nvidia (NVDA) at 6.5% of the portfolio, followed by Apple (AAPL, 5.7%) and Microsoft (MSFT, 4.2%). Compared with Q4 2025, it opened 45 new positions, sold out of 7, added to 468 and reduced 17. The biggest buy was iShares Core MSCI Emerging (IEMG, shares +122%) and the biggest sale an exit from Millicom Intl Cellular (TIGO).

Most Recent 13F
Q2 2026
Location
STOCKHOLM, V7
CIK
0001540880
Portfolio Value
$18.3B (Q1 2026)
SEC Filing
0001540880-26-000006 ↗ filed Apr 27, 2026

Holdings Value

0$5.0B$10.0B$15.0B$20.0B$25.0B Q1 2024: $9.0B Q1 2024 Q3 2024: $9.8B Q3 2024 Q4 2024: $9.9B Q4 2024 Q1 2025: $8.3B Q1 2025 Q2 2025: $10.8B Q2 2025 Q3 2025: $11.6B Q3 2025 Q4 2025: $11.9B Q4 2025 Q1 2026: $18.3B $18.3B Q1 2026 Q2 2026: $20.9B Q2 2026

Holdings 538 stocks · $18.3B
NVDA Nvidia Corp. 6.47% 6,809,899 $1.2B Add +61.7%
AAPL Apple Inc. 5.66% 4,090,648 $1.0B Add +61.2%
MSFT Microsoft Corp. 4.18% 2,071,039 $766.6M Add +63.4%
AMZN Amazon.com Inc. 2.80% 2,463,475 $513.1M Add +63.3%
IEMG iShares Core MSCI Emerging 2.61% 6,873,267 $479.4M Add +122.4%
GOOGL Alphabet Inc. Class A 2.59% 1,648,994 $474.2M Add +62.1%
GOOG Alphabet Inc. Class C 2.24% 1,429,652 $410.1M Add +60.9%
META Meta Platforms Inc. Class A 2.17% 696,047 $398.2M Add +62.0%
AVGO Broadcom Inc. 1.93% 1,141,003 $353.2M Add +62.4%
LLY Eli Lilly & Co. 1.73% 344,542 $316.9M Add +60.6%
JNJ Johnson & Johnson 1.62% 1,215,969 $297.2M Add +52.7%
V Visa Inc. Class A 1.43% 866,330 $261.8M Add +61.3%
WMT Walmart Inc. 1.19% 1,762,821 $219.1M Add +60.5%
JPM JPMorgan Chase & Co. 1.11% 692,247 $203.6M Add +58.0%
BRK.B Berkshire Hathaway Inc. Class B 1.08% 415,039 $198.9M Add +63.5%
MA Mastercard Inc. Class A 1.00% 368,812 $184.3M Add +61.7%
COST Costco Wholesale Corp. 0.99% 182,526 $181.9M Add +59.5%
NFLX Netflix Inc. 0.97% 1,842,995 $177.2M Add +60.9%
PG The Procter & Gamble Co. 0.93% 1,184,928 $171.2M Add +60.9%
CSCO Cisco Systems Inc. 0.93% 2,188,717 $169.8M Add +59.4%
KO The Coca-Cola Co. 0.85% 2,058,856 $156.6M Add +57.5%
MRK Merck & Co. Inc. 0.78% 1,182,179 $142.2M Add +48.3%
CAT Caterpillar Inc. 0.72% 187,564 $132.9M Add +59.0%
LRCX Lam Research Corp. 0.68% 583,010 $124.6M Add +62.9%
PEP Pepsico Inc. 0.65% 772,134 $119.9M Add +60.2%
ABBV Abbvie Inc. 0.63% 532,925 $115.9M Add +64.2%
AMAT Applied Materials Inc. 0.62% 332,858 $113.8M Add +59.2%
T AT&T Inc. 0.56% 3,521,120 $102.1M Add +53.4%
UNH Unitedhealth Group Inc. 0.55% 374,508 $101.3M Add +55.0%
TSLA Tesla Inc. 0.54% 265,468 $98.7M Add +72.0%
MU Micron Technology Inc. 0.54% 290,887 $98.3M Add +62.9%
LIN Linde PLC 0.53% 196,087 $97.2M Add +51.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.51% 591,418 $94.4M Add +58.9%
MCD McDonald's Corp. 0.51% 301,720 $93.8M Add +59.6%
VZ Verizon Communications Inc. 0.50% 1,828,588 $91.8M Add +63.1%
ABT Abbott Laboratories 0.50% 884,654 $90.8M Add +61.4%
SPOT Spotify Technology SA 0.49% 185,000 $89.7M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.47% 1,761,130 $85.9M Add +58.2%
HD Home Depot Inc. 0.47% 259,680 $85.4M Add +62.1%
PLTR Palantir Technologies Inc. Class A 0.46% 579,273 $84.7M Add +62.9%
APH Amphenol Corp. Class A 0.46% 664,039 $83.9M Add +51.8%
AMD Advanced Micro Devices 0.46% 412,133 $83.8M Add +62.8%
KLAC KLA Corp. 0.45% 56,402 $83.0M Add +63.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.43% 327,241 $79.3M Add +59.5%
CME Cme Group Inc. 0.41% 254,747 $75.2M Add +57.8%
GE General Electric filed as GE AEROSPACE 0.40% 261,164 $74.1M Add +62.1%
PGR Progressive Corp. 0.40% 371,370 $73.6M Add +55.4%
CB Chubb Ltd. 0.39% 218,406 $71.2M Add +59.7%
BKR Baker Hughes Co. 0.39% 1,159,303 $70.8M Add +7.9%
TXN Texas Instruments Inc. 0.38% 354,431 $68.8M Add +60.4%
ORCL Oracle Corp. 0.37% 459,882 $67.7M Add +65.5%
VRTX Vertex Pharmaceuticals Inc. 0.37% 149,962 $67.0M Add +68.4%
MCK McKesson Corp. 0.36% 77,237 $66.8M Add +38.7%
WFC Wells Fargo & Co. 0.36% 838,029 $66.7M Add +60.6%
UBER Uber Technologies Inc. 0.36% 921,383 $66.3M Add +67.0%
GS Goldman Sachs Group Inc. 0.36% 77,765 $65.8M Add +53.3%
GILD Gilead Sciences Inc. 0.35% 466,363 $65.0M Add +58.1%
TMUS T-Mobile US Inc. 0.35% 306,654 $64.4M Add +52.8%
ACN Accenture PLC Class A 0.35% 322,638 $64.0M Add +58.5%
INTU Intuit Inc. 0.33% 141,640 $61.2M Add +60.0%
CRM Salesforce Inc. 0.33% 321,579 $60.0M Add +65.2%
ISRG Intuitive Surgical Inc. 0.33% 129,459 $59.7M Add +57.7%
GEV GE Vernova Inc. 0.32% 67,933 $59.3M Add +61.3%
COR Cencora Inc. 0.32% 186,732 $58.7M Add +57.3%
ANET Arista Networks Inc. 0.32% 476,334 $58.5M Add +57.1%
AMGN Amgen Inc. 0.32% 166,082 $58.4M Add +59.9%
MRSH Marsh & McLennan Cos 0.31% 331,981 $57.6M Add +55.7%
ADBE Adobe Inc. 0.31% 232,806 $56.6M Add +68.1%
QCOM Qualcomm Inc. 0.31% 437,506 $56.3M Add +51.0%
C Citigroup Inc. 0.29% 474,441 $53.8M Add +55.4%
UNP Union Pacific Corp. 0.29% 217,576 $52.8M Add +30.9%
WM Waste Management Inc. 0.29% 227,846 $52.4M Add +56.4%
BLK BlackRock Inc. 0.28% 53,574 $51.5M Add +58.0%
INTC Intel Corp. 0.27% 1,133,034 $50.0M Add +57.8%
MS Morgan Stanley 0.27% 296,215 $48.7M Add +59.2%
WELL Welltower Inc. 0.26% 245,320 $48.5M Add +65.3%
ETN Eaton Corp. PLC 0.26% 134,825 $48.2M Add +58.9%
AXP American Express Co. 0.26% 158,373 $47.9M Add +72.5%
CL Colgate-Palmolive Co. 0.26% 561,024 $47.8M Add +62.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.25% 472,800 $45.6M Add +68.8%
TMO Thermo Fisher Scientific Inc. 0.24% 91,418 $44.9M Add +59.2%
ORLY O'reilly Automotive Inc. 0.24% 483,384 $44.6M Add +49.0%
RSG Republic Services Inc. 0.24% 200,974 $44.0M Add +54.4%
LNG Cheniere Energy Inc. 0.23% 148,200 $42.1M Add +16.0%
SCHW Schwab (charles) Corp. 0.23% 446,811 $42.0M Add +61.6%
AZO AutoZone Inc. 0.23% 12,394 $41.9M Add +40.2%
MNST Monster Beverage Corp. 0.23% 570,491 $41.3M Add +72.4%
TT Trane Technologies PLC 0.23% 99,153 $41.3M Add +54.4%
NOW ServiceNow Inc. 0.22% 394,070 $41.2M Add +67.4%
PANW Palo Alto Networks Inc. 0.22% 255,498 $41.0M Add +64.3%
PFE Pfizer Inc. 0.22% 1,441,271 $40.5M Add +56.4%
KR Kroger Co. 0.22% 558,033 $40.4M Add +58.1%
CBOE Cboe Global Markets Inc. 0.22% 142,442 $40.0M Add +53.6%
ADI Analog Devices Inc. 0.22% 125,086 $39.8M Add +62.3%
ADP Automatic Data Processing 0.22% 194,968 $39.6M Add +72.6%
TRV The Travelers Cos Inc. 0.22% 135,401 $39.5M Add +69.1%
EXC Exelon Corp. 0.21% 774,076 $37.9M Add +100.2%
PH Parker Hannifin Corp. 0.21% 42,380 $37.9M Add +61.5%
MDLZ Mondelez International Inc. Class A 0.21% 655,180 $37.8M Add +64.7%
SPGI S&P Global Inc. 0.21% 88,573 $37.7M Add +67.9%

Show all 538 holdings

Portfolio Sells Q4 2025 → Q1 2026
TIGO Millicom Intl Cellular S.A. Sold out 0.00% −0.46
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −0.08
HOLX Hologic Inc. Sold out 0.00% −0.06
DT Dynatrace Inc. Reduce -98.5% 0.00% −0.06
BSY Bentley Systems Inc. Class B Reduce -99.2% 0.00% −0.04
ELS Equity Lifestyle Properties Reduce -95.4% 0.00% −0.04
DOCU Docusign Inc. Reduce -94.0% 0.00% −0.03
PAYC Paycom Software Inc. Reduce -99.5% 0.00% −0.03
AFG American Financial Group Inc. Reduce -89.0% 0.00% −0.02
WIX Wix.com Ltd. Sold out 0.00% −0.02
BAH Booz Allen Hamilton Holdings Reduce -97.9% 0.00% −0.02
NTNX Nutanix Inc. Class A Reduce -97.0% 0.00% −0.02
AMH American Homes 4 Rent- A Reduce -85.5% 0.00% −0.02
MDLN Medline Inc. Class A Sold out 0.00% −0.02
NAVN Navan Inc. Class A Sold out 0.00% −0.01
SJM The JM Smucker Co. Reduce -99.3% 0.00% −0.01
BXP BXP Inc. Reduce -97.3% 0.00% −0.01
BF.B Brown-Forman Corp. Class B Reduce -99.9% 0.00% −0.01
ARE Alexandria Real Estate Equit Reduce -95.3% 0.00% −0.01
BAX Baxter International Inc. Reduce -99.3% 0.00% −0.01
VSNT Versant Media Group Inc. Reduce -81.1% 0.00% −0.01
MRP Millrose Properties Sold out 0.00% −0.00
VRT Vertiv Holdings Co. Class A Reduce -2.0% 0.12% −0.00
AMCR Amcor PLC Reduce -41.0% 0.02% +0.01

Portfolio Buys Q4 2025 → Q1 2026
IEMG iShares Core MSCI Emerging Add +122.4% 2.61% +0.87
SPOT Spotify Technology SA New 0.49% +0.49
JNJ Johnson & Johnson Add +52.7% 1.62% +0.24
AMAT Applied Materials Inc. Add +59.2% 0.62% +0.17
WMT Walmart Inc. Add +60.5% 1.19% +0.17
LRCX Lam Research Corp. Add +62.9% 0.68% +0.17
COST Costco Wholesale Corp. Add +59.5% 0.99% +0.17
CAT Caterpillar Inc. Add +59.0% 0.72% +0.16
VZ Verizon Communications Inc. Add +63.1% 0.50% +0.12
SO The Southern Co. New 0.11% +0.11
MU Micron Technology Inc. Add +62.9% 0.54% +0.11
KLAC KLA Corp. Add +63.2% 0.45% +0.10
NEE Nextera Energy Inc. Add +189.9% 0.17% +0.09
GEV GE Vernova Inc. Add +61.3% 0.32% +0.09
KO The Coca-Cola Co. Add +57.5% 0.85% +0.09
T AT&T Inc. Add +53.4% 0.56% +0.08
PEP Pepsico Inc. Add +60.2% 0.65% +0.07
MRK Merck & Co. Inc. Add +48.3% 0.78% +0.07
LITE Lumentum Holdings Inc. New 0.07% +0.07
GLW Corning Inc. Add +53.8% 0.20% +0.07
NEM Newmont Corp. New 0.07% +0.07
NFLX Netflix Inc. Add +60.9% 0.97% +0.07
LIN Linde PLC Add +51.0% 0.53% +0.07
EXC Exelon Corp. Add +100.2% 0.21% +0.07
SHW The Sherwin-Williams Co. Add +200.5% 0.13% +0.06
DUK Duke Energy Corp. New 0.06% +0.06
PCAR Paccar Inc. New 0.06% +0.06
TXN Texas Instruments Inc. Add +60.4% 0.38% +0.05
WDC Western Digital Corp. Add +64.2% 0.13% +0.05
GILD Gilead Sciences Inc. Add +58.1% 0.35% +0.05
INTC Intel Corp. Add +57.8% 0.27% +0.05
PG The Procter & Gamble Co. Add +60.9% 0.93% +0.05
COHR Coherent Corp. New 0.05% +0.05
D Dominion Energy Inc. Add +114.6% 0.15% +0.05
EIX Edison International Add +113.2% 0.11% +0.05
ES Eversource Energy New 0.05% +0.05
DTE DTE Energy Company New 0.05% +0.05
SLB SLB Ltd. New 0.05% +0.05
J Jacobs Solutions Inc. New 0.04% +0.04
WMB Williams Cos Inc. Add +161.9% 0.09% +0.04
FDX FedEx Corp. New 0.04% +0.04
ADI Analog Devices Inc. Add +62.3% 0.22% +0.04
CME Cme Group Inc. Add +57.8% 0.41% +0.04
CHRW C.H. Robinson Worldwide Inc. New 0.04% +0.04
HAL Halliburton Co. New 0.04% +0.04
CSCO Cisco Systems Inc. Add +59.4% 0.93% +0.04
AEP American Electric Power New 0.04% +0.04
DE Deere & Co. Add +58.9% 0.19% +0.04
SRE Sempra New 0.04% +0.04
STX Seagate Technology Holdings Add +59.1% 0.12% +0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 525$20.9BNVDA, AAPL, MSFT, AMZN, GOOGL
Q1 2026 538$18.3BNVDA, AAPL, MSFT, AMZN, IEMG
Q4 2025 499$11.9BNVDA, AAPL, MSFT, AMZN, GOOGL
Q3 2025 465$11.6BNVDA, AAPL, MSFT, AMZN, META
Q2 2025 494$10.8BNVDA, MSFT, AAPL, AMZN, META
Q1 2025 527$8.3BAAPL, MSFT, NVDA, AMZN, META
Q4 2024 531$9.9BAAPL, NVDA, MSFT, AMZN, META
Q3 2024 527$9.8BAAPL, NVDA, MSFT, AMZN, META
Q1 2024 535$9.0BMSFT, AAPL, NVDA, AMZN, META