KLP Kapitalforvaltning As
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), KLP Kapitalforvaltning As reported 2,165 stock positions worth $25.9 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by Apple (AAPL, 6.1%) and Microsoft (MSFT, 5.3%). Compared with Q3 2025, it opened 60 new positions, sold out of 67, added to 1,200 and reduced 400. The biggest buy was Alphabet Class A (GOOGL, shares +1%) and the biggest sale Meta Platforms Class A (META, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001717443
- Portfolio Value
- $25.9B (Q4 2025)
- SEC Filing
- 0001717443-26-000002 ↗ filed Jan 28, 2026
Holdings Value
Holdings 2,165 stocks · $25.9B
| NVDA Nvidia Corp. | 6.85% | 9,509,860 | $1.8B | Add +0.2% |
| AAPL Apple Inc. | 6.11% | 5,817,204 | $1.6B | Reduce -0.3% |
| MSFT Microsoft Corp. | 5.31% | 2,844,208 | $1.4B | Add +1.6% |
| AMZN Amazon.com Inc. | 3.08% | 3,452,300 | $796.9M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 2.88% | 2,381,160 | $745.3M | Add +0.9% |
| GOOG Alphabet Inc. Class C | 2.28% | 1,878,420 | $589.4M | Reduce -0.2% |
| AVGO Broadcom Inc. | 2.19% | 1,637,520 | $566.7M | Add +1.0% |
| META Meta Platforms Inc. Class A | 1.99% | 782,510 | $516.5M | Reduce -2.4% |
| TSLA Tesla Inc. | 1.87% | 1,078,810 | $485.2M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 1.40% | 1,123,352 | $362.0M | Reduce -0.1% |
| LLY Eli Lilly & Co. | 1.28% | 308,279 | $331.3M | Add +1.2% |
| V Visa Inc. Class A | 1.01% | 745,642 | $261.5M | Add +0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.99% | 507,973 | $255.3M | Add +0.9% |
| JNJ Johnson & Johnson | 0.85% | 1,062,814 | $219.9M | Add +0.2% |
| MA Mastercard Inc. Class A | 0.83% | 378,714 | $216.2M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.82% | 1,759,736 | $211.8M | Reduce -4.6% |
| WMT Walmart Inc. | 0.75% | 1,735,500 | $193.7M | Add +0.6% |
| ABBV Abbvie Inc. | 0.68% | 774,072 | $176.9M | Add +4.0% |
| NFLX Netflix Inc. | 0.65% | 1,798,530 | $168.6M | Add +0.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.60% | 2,814,841 | $154.8M | Reduce -0.3% |
| PLTR Palantir Technologies Inc. Class A | 0.59% | 862,000 | $153.2M | Add +1.6% |
| PG The Procter & Gamble Co. | 0.54% | 973,929 | $139.6M | Add +0.8% |
| CSCO Cisco Systems Inc. | 0.54% | 1,798,415 | $138.5M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 0.53% | 159,060 | $137.2M | Add +0.3% |
| MRK Merck & Co. Inc. | 0.52% | 1,275,270 | $135.2M | Reduce -3.7% |
| HD Home Depot Inc. | 0.52% | 391,742 | $134.8M | Reduce -1.2% |
| AMD Advanced Micro Devices | 0.51% | 620,747 | $132.9M | Add +6.8% |
| KO The Coca-Cola Co. | 0.49% | 1,809,645 | $126.5M | Reduce -1.8% |
| CVX Chevron Corp. | 0.48% | 814,097 | $124.1M | Reduce -6.6% |
| ORCL Oracle Corp. | 0.47% | 624,462 | $121.7M | Add +2.4% |
| WFC Wells Fargo & Co. | 0.47% | 1,302,075 | $121.4M | Reduce -0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.45% | 397,670 | $117.8M | Reduce -1.0% |
| GS Goldman Sachs Group Inc. | 0.45% | 133,063 | $117.0M | Reduce -1.1% |
| MU Micron Technology Inc. | 0.45% | 406,605 | $116.1M | Add +0.9% |
| UNH Unitedhealth Group Inc. | 0.44% | 346,855 | $114.5M | Add +0.3% |
| LRCX Lam Research Corp. | 0.42% | 638,680 | $109.5M | Reduce -2.0% |
| QCOM Qualcomm Inc. | 0.40% | 606,759 | $103.8M | Reduce -2.1% |
| C Citigroup Inc. | 0.40% | 884,241 | $103.2M | Add +0.9% |
| CRM Salesforce Inc. | 0.40% | 385,643 | $102.3M | Add +0.1% |
| GE General Electric filed as GE AEROSPACE | 0.39% | 323,893 | $99.9M | Reduce -1.8% |
| GILD Gilead Sciences Inc. | 0.37% | 790,808 | $97.1M | Reduce -0.7% |
| T AT&T Inc. | 0.37% | 3,829,564 | $95.1M | Add +0.7% |
| MCD McDonald's Corp. | 0.37% | 309,936 | $94.7M | Add +4.7% |
| AMAT Applied Materials Inc. | 0.35% | 353,341 | $90.8M | Reduce -4.2% |
| VZ Verizon Communications Inc. | 0.35% | 2,211,224 | $90.1M | Add +5.7% |
| MS Morgan Stanley | 0.34% | 494,989 | $87.9M | Reduce -0.2% |
| ABT Abbott Laboratories | 0.33% | 686,499 | $86.0M | Reduce -3.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 739,312 | $84.6M | Add +0.8% |
| BMY Bristol-Myers Squibb Co. | 0.33% | 1,563,158 | $84.3M | Add +2.3% |
| KLAC KLA Corp. | 0.32% | 69,100 | $84.0M | Reduce -0.3% |
| AXP American Express Co. | 0.32% | 226,339 | $83.7M | Add +0.4% |
| BKNG Booking Holdings Inc. | 0.32% | 15,543 | $83.2M | Add +0.2% |
| INTU Intuit Inc. | 0.32% | 125,390 | $83.1M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.32% | 142,823 | $82.8M | Add +0.3% |
| PEP Pepsico Inc. | 0.31% | 548,596 | $79.4M | Add +0.3% |
| SPOT Spotify Technology SA | 0.30% | 134,840 | $78.3M | Add +1.0% |
| PFE Pfizer Inc. | 0.30% | 3,073,932 | $76.5M | Reduce -0.5% |
| NEE Nextera Energy Inc. | 0.30% | 953,012 | $76.5M | Add +10.8% |
| LIN Linde PLC | 0.29% | 178,134 | $76.0M | Add +4.1% |
| ADBE Adobe Inc. | 0.29% | 216,443 | $75.8M | Add +2.6% |
| DE Deere & Co. | 0.29% | 160,549 | $75.0M | Add +0.5% |
| COF Capital One Financial Corp. | 0.29% | 307,362 | $74.5M | Add +0.9% |
| ISRG Intuitive Surgical Inc. | 0.28% | 128,142 | $72.6M | Reduce -0.0% |
| ANET Arista Networks Inc. | 0.27% | 539,500 | $70.7M | Add +4.0% |
| GEV GE Vernova Inc. | 0.27% | 106,210 | $69.4M | Reduce -1.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 451,400 | $69.3M | Reduce -0.0% |
| ACN Accenture PLC Class A | 0.26% | 251,906 | $67.6M | Add +1.1% |
| SPGI S&P Global Inc. | 0.26% | 128,378 | $67.1M | Reduce -0.6% |
| NOW ServiceNow Inc. | 0.25% | 427,345 | $65.5M | Add +0.9% |
| AMGN Amgen Inc. | 0.25% | 197,916 | $64.8M | Add +3.1% |
| MCK McKesson Corp. | 0.25% | 78,470 | $64.4M | Reduce -0.9% |
| UNP Union Pacific Corp. | 0.24% | 271,964 | $62.9M | Add +24.9% |
| ETN Eaton Corp. PLC | 0.24% | 196,029 | $62.4M | Add +17.7% |
| APP AppLovin Corp. Class A | 0.24% | 91,560 | $61.7M | Reduce -4.6% |
| SCHW Schwab (charles) Corp. | 0.24% | 615,072 | $61.5M | Reduce -0.0% |
| UBER Uber Technologies Inc. | 0.24% | 749,400 | $61.2M | Reduce -0.2% |
| INTC Intel Corp. | 0.23% | 1,631,708 | $60.2M | Add +4.9% |
| APH Amphenol Corp. Class A | 0.23% | 440,224 | $59.6M | Add +0.6% |
| CB Chubb Ltd. | 0.23% | 190,162 | $59.6M | Add +31.1% |
| CMCSA Comcast Corp. Class A | 0.23% | 1,971,906 | $58.9M | Add +19.7% |
| HWM Howmet Aerospace Inc. | 0.23% | 284,544 | $58.3M | Reduce -2.4% |
| BSX Boston Scientific Corp. | 0.22% | 610,556 | $58.2M | Reduce -0.3% |
| CMI Cummins Inc. | 0.22% | 111,501 | $56.9M | Reduce -5.2% |
| TXN Texas Instruments Inc. | 0.22% | 327,985 | $56.9M | Add +0.5% |
| MMM 3M Co. | 0.22% | 354,763 | $56.8M | Add +1.4% |
| NEM Newmont Corp. | 0.22% | 567,881 | $56.7M | Add +1.4% |
| BLK BlackRock Inc. | 0.22% | 52,875 | $56.6M | Add +0.0% |
| ADI Analog Devices Inc. | 0.21% | 200,521 | $54.4M | Reduce -0.3% |
| WELL Welltower Inc. | 0.21% | 291,146 | $54.0M | Add +21.2% |
| DHR Danaher Corp. | 0.21% | 233,651 | $53.6M | Add +0.3% |
| PANW Palo Alto Networks Inc. | 0.21% | 290,142 | $53.4M | Add +3.2% |
| WM Waste Management Inc. | 0.20% | 236,153 | $51.9M | Add +18.5% |
| ADP Automatic Data Processing | 0.20% | 200,419 | $51.8M | Add +0.2% |
| PGR Progressive Corp. | 0.20% | 227,068 | $51.7M | Reduce -8.9% |
| COP Conocophillips | 0.20% | 552,242 | $51.7M | Reduce -4.2% |
| CEG Constellation Energy | 0.20% | 145,974 | $51.6M | Reduce -11.9% |
| CL Colgate-Palmolive Co. | 0.19% | 629,523 | $49.7M | Add +2.2% |
| LOW Lowe's Cos Inc. | 0.19% | 202,983 | $49.0M | Add +0.2% |
| ITW Illinois Tool Works | 0.19% | 193,545 | $47.9M | Add +21.5% |
| ED Consolidated Edison Inc. | 0.18% | 481,365 | $47.8M | Reduce -13.0% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $38K (not counted above)
Total filed on the 13F, all lines: $25.9B.
Portfolio Sells Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | Reduce -2.4% | 1.99% | −0.34 |
| HD Home Depot Inc. | Reduce -1.2% | 0.52% | −0.12 |
| TMUS T-Mobile US Inc. | Reduce -21.0% | 0.17% | −0.09 |
| CI The Cigna Group | Reduce -40.2% | 0.11% | −0.09 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.07 |
| K Kellanova | Sold out | 0.00% | −0.07 |
| TSLA Tesla Inc. | Reduce -1.8% | 1.87% | −0.06 |
| CVX Chevron Corp. | Reduce -6.6% | 0.48% | −0.06 |
| UBER Uber Technologies Inc. | Reduce -0.2% | 0.24% | −0.06 |
| OC Owens Corning | Reduce -83.0% | 0.01% | −0.05 |
| VRSK Verisk Analytics Inc. | Reduce -44.0% | 0.05% | −0.05 |
| SRE Sempra | Reduce -26.4% | 0.13% | −0.05 |
| ABT Abbott Laboratories | Reduce -3.5% | 0.33% | −0.05 |
| PGR Progressive Corp. | Reduce -8.9% | 0.20% | −0.04 |
| SYY Sysco Corp. | Reduce -18.7% | 0.10% | −0.04 |
| CTVA Corteva Inc. | Reduce -36.9% | 0.07% | −0.04 |
| RSG Republic Services Inc. | Reduce -28.7% | 0.07% | −0.04 |
| CUK Carnival PLC-ADR | Sold out | 0.00% | −0.04 |
| CTRA Coterra Energy Inc. | Reduce -70.4% | 0.02% | −0.04 |
| ED Consolidated Edison Inc. | Reduce -13.0% | 0.18% | −0.04 |
| CME Cme Group Inc. | Reduce -16.7% | 0.16% | −0.04 |
| APP AppLovin Corp. Class A | Reduce -4.6% | 0.24% | −0.04 |
| CTAS Cintas Corp. | Reduce -9.7% | 0.14% | −0.03 |
| ADM Archer-Daniels-Midland Co. | Reduce -22.7% | 0.08% | −0.03 |
| EXC Exelon Corp. | Reduce -10.7% | 0.17% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -14.0% | 0.17% | −0.03 |
| CCEP Coca-Cola Europacific Partne | Reduce -47.3% | 0.03% | −0.03 |
| KMB Kimberly-Clark Corp. | Reduce -19.6% | 0.05% | −0.03 |
| GEN Gen Digital Inc. | Reduce -52.9% | 0.02% | −0.03 |
| ES Eversource Energy | Reduce -17.1% | 0.08% | −0.03 |
| EG Everest Group Ltd. | Reduce -35.0% | 0.04% | −0.03 |
| TDY Teledyne Technologies Inc. | Reduce -8.4% | 0.09% | −0.02 |
| HUBS HubSpot Inc. | Reduce -33.5% | 0.03% | −0.02 |
| CDNS Cadence Design SYS Inc. | Reduce -0.3% | 0.15% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -2.0% | 0.09% | −0.02 |
| FERG Ferguson Enterprises Inc. | Reduce -23.9% | 0.06% | −0.02 |
| DOCU Docusign Inc. | Reduce -28.3% | 0.04% | −0.02 |
| TYL Tyler Technologies Inc. | Reduce -34.3% | 0.03% | −0.02 |
| VLO Valero Energy Corp. | Reduce -6.8% | 0.13% | −0.02 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.02 |
| WRB WR Berkley Corp. | Reduce -32.4% | 0.03% | −0.02 |
| HSY The Hershey Co. | Reduce -15.7% | 0.08% | −0.02 |
| TT Trane Technologies PLC | Reduce -0.3% | 0.16% | −0.02 |
| MRSH Marsh & McLennan Cos | Reduce -0.6% | 0.15% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -0.6% | 0.10% | −0.02 |
| CEG Constellation Energy | Reduce -11.9% | 0.20% | −0.02 |
| DBX Dropbox Inc. Class A | Reduce -9.0% | 0.07% | −0.02 |
| COP Conocophillips | Reduce -4.2% | 0.20% | −0.02 |
| PFE Pfizer Inc. | Reduce -0.5% | 0.30% | −0.02 |
| PSA Public Storage | Reduce -11.5% | 0.06% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +0.9% | 2.88% | +0.60 |
| LLY Eli Lilly & Co. | Add +1.2% | 1.28% | +0.36 |
| MU Micron Technology Inc. | Add +0.9% | 0.45% | +0.18 |
| AMD Advanced Micro Devices | Add +6.8% | 0.51% | +0.14 |
| AMZN Amazon.com Inc. | Add +0.9% | 3.08% | +0.10 |
| JNJ Johnson & Johnson | Add +0.2% | 0.85% | +0.07 |
| AVGO Broadcom Inc. | Add +1.0% | 2.19% | +0.07 |
| CB Chubb Ltd. | Add +31.1% | 0.23% | +0.07 |
| GGG Graco Inc. | Add +167.7% | 0.10% | +0.06 |
| BMY Bristol-Myers Squibb Co. | Add +2.3% | 0.33% | +0.05 |
| BDX Becton Dickinson and Co. | Add +61.2% | 0.13% | +0.05 |
| WDC Western Digital Corp. | Add +28.3% | 0.11% | +0.05 |
| C Citigroup Inc. | Add +0.9% | 0.40% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +0.3% | 0.32% | +0.05 |
| CCL Carnival Corp. | Add +75700.0% | 0.04% | +0.04 |
| WBD Warner Bros Discovery Inc. | Add +15.6% | 0.11% | +0.04 |
| WMT Walmart Inc. | Add +0.6% | 0.75% | +0.04 |
| QRVO Qorvo Inc. | Add +669.6% | 0.05% | +0.04 |
| AMRZ Amrize Ltd. | New | 0.04% | +0.04 |
| REGN Regeneron Pharmaceuticals | Add +0.2% | 0.15% | +0.04 |
| UNP Union Pacific Corp. | Add +24.9% | 0.24% | +0.04 |
| WELL Welltower Inc. | Add +21.2% | 0.21% | +0.04 |
| NEE Nextera Energy Inc. | Add +10.8% | 0.30% | +0.04 |
| BIIB Biogen Inc. | Add +15.1% | 0.13% | +0.04 |
| EL Estee Lauder Companies Class A | Add +71.3% | 0.07% | +0.04 |
| TRV The Travelers Cos Inc. | Add +29.9% | 0.15% | +0.04 |
| AMGN Amgen Inc. | Add +3.1% | 0.25% | +0.04 |
| CIEN Ciena Corp. | Add +94.6% | 0.05% | +0.03 |
| RS Reliance Inc. | Add +66.2% | 0.09% | +0.03 |
| CRM Salesforce Inc. | Add +0.1% | 0.40% | +0.03 |
| NEM Newmont Corp. | Add +1.4% | 0.22% | +0.03 |
| PINS Pinterest Inc. Class A | Add +103.4% | 0.08% | +0.03 |
| COF Capital One Financial Corp. | Add +0.9% | 0.29% | +0.03 |
| ELV Elevance Health Inc. | Add +20.1% | 0.14% | +0.03 |
| EXPD Expeditors Intl Wash Inc. | Add +35.9% | 0.08% | +0.03 |
| GDDY GoDaddy Inc. Class A | Add +125.9% | 0.05% | +0.03 |
| LNG Cheniere Energy Inc. | Add +66.5% | 0.11% | +0.03 |
| AXP American Express Co. | Add +0.4% | 0.32% | +0.03 |
| INSM Insmed Inc. | Add +80.5% | 0.05% | +0.03 |
| WM Waste Management Inc. | Add +18.5% | 0.20% | +0.03 |
| INTC Intel Corp. | Add +4.9% | 0.23% | +0.03 |
| PH Parker Hannifin Corp. | Add +3.6% | 0.17% | +0.02 |
| RKT Rocket Cos Inc. Class A | New | 0.02% | +0.02 |
| DHR Danaher Corp. | Add +0.3% | 0.21% | +0.02 |
| HLT Hilton Worldwide Holdings Inc. | Add +10.7% | 0.14% | +0.02 |
| CMCSA Comcast Corp. Class A | Add +19.7% | 0.23% | +0.02 |
| FIX Comfort Systems USA Inc. | Add +59.8% | 0.05% | +0.02 |
| KVUE Kenvue Inc. | Add +31.6% | 0.08% | +0.02 |
| ITW Illinois Tool Works | Add +21.5% | 0.19% | +0.02 |
| TPR Tapestry Inc. | Add +14.5% | 0.10% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | Add +38.1% | 6,296 | $6K |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 6,296 | $3K |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 6,296 | $3K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,137 | $31.0B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q1 2026 | 2,150 | $25.5B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,165 | $25.9B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 2,171 | $25.2B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 2,188 | $23.2B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,252 | $20.4B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 2,288 | $21.1B | AAPL, NVDA, MSFT, AMZN, META |