Kedalion Capital Management LLP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Kedalion Capital Management LLP reported 3 stock positions worth $4.1 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 48.6% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 43.8%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 7.6%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 1 and reduced 1. The biggest buy was a new position in Vanguard S&P 500 ETF (VOO) and the biggest sale Ste STR SPDR PT S&P 500 ETF (SPYM, shares −70%).