PKO Investment Management Joint-Stock Co

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed March 13, 2025), PKO Investment Management Joint-Stock Co reported 156 stock positions worth $810.8 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 33.9% of the portfolio, followed by Invesco Nasdaq 100 ETF (QQQM, 5.4%) and iShares Core S&P Small-Cap E (IJR, 2.7%). Compared with Q2 2024, it opened 4 new positions, sold out of 12, added to 40 and reduced 50. The biggest buy was iShares Core S&P Small-Cap E (IJR, shares +563%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −11%).

Most Recent 13F
Q2 2026
Location
WARSAW, R9
CIK
0002059321
Portfolio Value
$810.8M (Q3 2024)
SEC Filing
0002059321-25-000002 ↗ filed Mar 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $840.6M Q1 2024 Q2 2024: $809.5M Q2 2024 Q3 2024: $810.8M $810.8M Q3 2024 Q4 2024: $803.5M Q4 2024 Q1 2025: $881.7M Q1 2025 Q2 2025: $930.8M Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 156 stocks · $810.8M
IVV iShares Core S&P 500 ETF 33.88% 476,285 $274.7M Reduce -10.8%
QQQM Invesco Nasdaq 100 ETF 5.45% 220,000 $44.2M No change
IJR iShares Core S&P Small-Cap E 2.73% 189,086 $22.1M Add +563.5%
VOO Vanguard S&P 500 ETF 2.59% 39,758 $21.0M Add +11.3%
MSFT Microsoft Corp. 2.39% 45,000 $19.4M Add +32.4%
NEM Newmont Corp. 2.19% 332,853 $17.8M Reduce -13.5%
AEM Agnico Eagle Mines Ltd. 2.11% 212,478 $17.1M Add +1.1%
B Barrick Gold Corp. 1.95% 796,221 $15.8M Reduce -5.1%
NVDA Nvidia Corp. 1.74% 116,000 $14.1M Reduce -13.6%
AAPL Apple Inc. 1.70% 59,000 $13.7M Reduce -9.2%
WPM Wheaton Precious Metals Corp. 1.65% 218,391 $13.3M Add +9.5%
GOOGL Alphabet Inc. Class A 1.43% 70,000 $11.6M Add +55.6%
XOM Exxon Mobil Corp. 1.42% 97,932 $11.5M Add +1.4%
CVX Chevron Corp. 1.26% 69,173 $10.2M No change
TSLA Tesla Inc. 1.19% 36,800 $9.6M Reduce -17.5%
AVGO Broadcom Inc. 1.13% 53,000 $9.1M Add +6.0%
FNV Franco-Nevada Corp. 1.04% 67,764 $8.4M Reduce -2.6%
AMZN Amazon.com Inc. 0.97% 42,000 $7.8M Reduce -25.5%
LLY Eli Lilly & Co. 0.79% 7,200 $6.4M Reduce -18.4%
DXCM Dexcom Inc. 0.79% 95,000 $6.4M Add +150.0%
META Meta Platforms Inc. Class A 0.78% 11,000 $6.3M Add +10.0%
GFI Gold Fields Ltd.-Spons ADR 0.76% 401,996 $6.2M Add +2.5%
BHP BHP Group Ltd.-Spon ADR 0.75% 98,308 $6.1M Add +3.1%
EEM iShares MSCI Emerging Market 0.73% 129,813 $6.0M Add +3.9%
UNH Unitedhealth Group Inc. 0.70% 9,689 $5.7M Reduce -11.8%
KGC Kinross Gold Corp. 0.68% 589,006 $5.5M Reduce -18.1%
AMD Advanced Micro Devices 0.67% 33,000 $5.4M No change
LRCX Lam Research Corp. 0.60% 6,000 $4.9M Add +172.7%
PYPL PayPal Holdings Inc. 0.58% 60,000 $4.7M No change
COP Conocophillips 0.56% 43,300 $4.6M Add +4.1%
ADBE Adobe Inc. 0.51% 8,000 $4.1M Add +33.3%
PAAS Pan American Silver Corp. 0.51% 196,266 $4.1M Reduce -18.0%
QCOM Qualcomm Inc. 0.50% 24,000 $4.1M Add +60.0%
RGLD Royal Gold Inc. 0.50% 28,900 $4.1M Reduce -23.8%
MAR Marriott International Class A 0.49% 16,000 $4.0M No change
MRK Merck & Co. Inc. 0.49% 34,676 $3.9M Add +20.9%
URTH iShares MSCI World ETF 0.48% 24,800 $3.9M No change
AGI Alamos Gold Inc. Class A 0.47% 192,500 $3.8M Reduce -17.9%
MBLY Mobileye Global Inc. Class A 0.47% 280,000 $3.8M Add +154.6%
CLH Clean Harbors Inc. 0.45% 15,000 $3.6M No change
INTC Intel Corp. 0.44% 153,000 $3.6M Reduce -39.5%
SNOW Snowflake Inc. 0.44% 31,000 $3.6M Add +40.9%
LULU Lululemon Athletica Inc. 0.44% 13,000 $3.5M No change
HLT Hilton Worldwide Holdings Inc. 0.43% 15,000 $3.5M Reduce -11.8%
HMY Harmony Gold MNG-Spon ADR 0.41% 328,700 $3.3M Reduce -9.9%
JNJ Johnson & Johnson 0.40% 20,000 $3.2M Reduce -37.5%
IEMG iShares Core MSCI Emerging 0.39% 54,739 $3.1M Reduce -1.4%
TTWO Take-Two Interactive Softwre 0.38% 20,000 $3.1M New
AMGN Amgen Inc. 0.37% 9,200 $3.0M Reduce -9.8%
MU Micron Technology Inc. 0.36% 28,000 $2.9M Add +86.7%
NFLX Netflix Inc. 0.35% 4,000 $2.8M No change
PFE Pfizer Inc. 0.35% 97,484 $2.8M No change
AMAT Applied Materials Inc. 0.34% 13,500 $2.7M Add +92.9%
FCX Freeport-McMoran Inc. 0.33% 53,700 $2.7M Reduce -2.0%
CI The Cigna Group 0.33% 7,700 $2.7M Reduce -10.5%
CSCO Cisco Systems Inc. 0.33% 50,000 $2.7M No change
CNQ Canadian Natural Resources 0.33% 79,400 $2.6M No change
CVS CVS Health Corp. 0.31% 40,300 $2.5M No change
EOG EOG Resources Inc. 0.30% 19,700 $2.4M Reduce -4.8%
RSG Republic Services Inc. 0.29% 11,747 $2.4M No change
ABBV Abbvie Inc. 0.29% 11,800 $2.3M Reduce -12.6%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.28% 22,500 $2.2M No change
ON On Semiconductor 0.27% 30,000 $2.2M Reduce -33.3%
INTU Intuit Inc. 0.27% 3,500 $2.2M No change
MRVL Marvell Technology Inc. 0.27% 30,000 $2.2M Add +50.0%
BTG B2GOLD Corp. 0.26% 689,000 $2.1M Reduce -17.9%
HL Hecla Mining Co. 0.26% 318,500 $2.1M Reduce -25.7%
WCN Waste Connections Inc. 0.25% 11,448 $2.0M No change
EGO Eldorado Gold Corp. 0.24% 111,000 $1.9M No change
TMO Thermo Fisher Scientific Inc. 0.24% 3,100 $1.9M Reduce -3.1%
CRM Salesforce Inc. 0.24% 7,000 $1.9M Reduce -44.4%
LVS Las Vegas Sands Corp. 0.22% 36,000 $1.8M No change
OR Osisko Gold Royalties Ltd. 0.22% 97,800 $1.8M Reduce -20.4%
BDX Becton Dickinson and Co. 0.22% 7,500 $1.8M No change
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 0.22% 126,942 $1.8M Reduce -24.0%
DHR Danaher Corp. 0.21% 6,000 $1.7M Reduce -7.7%
CCL Carnival Corp. 0.21% 90,000 $1.7M No change
CTVA Corteva Inc. 0.20% 28,098 $1.7M Add +7.7%
TEAM Atlassian Corp. Class A 0.20% 10,000 $1.6M No change
IAG Iamgold Corp. 0.19% 300,000 $1.6M No change
SU Suncor Energy Inc. 0.19% 42,000 $1.6M No change
WSM Williams-Sonoma Inc. 0.19% 10,000 $1.5M Reduce -25.4%
KLAC KLA Corp. 0.19% 2,000 $1.5M New
ABT Abbott Laboratories 0.18% 13,000 $1.5M Reduce -38.1%
CDE Coeur Mining Inc. 0.17% 200,000 $1.4M No change
NUE Nucor Corp. 0.17% 9,120 $1.4M Add +22.9%
HES Hess Corp. 0.17% 10,095 $1.4M No change
PANW Palo Alto Networks Inc. 0.17% 4,000 $1.4M No change
XYL Xylem Inc. 0.17% 10,000 $1.4M No change
WM Waste Management Inc. 0.16% 6,412 $1.3M Reduce -59.7%
AWK American Water Works Co. Inc. 0.16% 9,022 $1.3M No change
TOL Toll Brothers Inc. 0.16% 8,500 $1.3M Reduce -34.6%
SAND Sandstorm Gold Ltd. 0.16% 210,400 $1.3M No change
BIIB Biogen Inc. 0.16% 6,500 $1.3M Add +85.7%
OXY Occidental Petroleum Corp. 0.15% 23,150 $1.2M No change
TECK Teck Resources Ltd.-CLS B 0.15% 22,724 $1.2M Add +28.2%
EQX Equinox Gold Corp. 0.14% 186,887 $1.1M No change
WDS Woodside Energy Group-ADR 0.14% 66,000 $1.1M No change
HUM Humana Inc. 0.14% 3,500 $1.1M Add +16.7%
ELV Elevance Health Inc. 0.13% 2,100 $1.1M Add +23.5%
CPRI Capri Holdings Ltd. 0.13% 25,000 $1.1M No change
WYNN WYNN Resorts Ltd. 0.13% 11,000 $1.1M No change
CGAU Centerra Gold Inc. 0.13% 145,000 $1.0M No change
BMY Bristol-Myers Squibb Co. 0.13% 20,000 $1.0M No change
TPR Tapestry Inc. 0.13% 22,000 $1.0M No change
NGD New Gold Inc. 0.13% 350,000 $1.0M New
ADM Archer-Daniels-Midland Co. 0.12% 16,900 $1.0M Reduce -9.6%
CRL Charles River Laboratories 0.12% 5,000 $985K New
ISRG Intuitive Surgical Inc. 0.12% 2,000 $983K No change
NTR Nutrien Ltd. 0.12% 20,396 $981K Add +14.0%
FANG Diamondback Energy Inc. 0.12% 5,500 $948K No change
CVE Cenovus Energy Inc. 0.11% 55,500 $929K No change
SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC 0.11% 17,000 $928K No change
MAG Mag Silver Corp. 0.11% 65,918 $928K No change
EW Edwards Lifesciences Corp. 0.11% 14,000 $924K Add +133.3%
DVN Devon Energy Corp. 0.11% 22,661 $886K No change
DRD Drdgold Ltd.-Sponsored ADR 0.11% 90,814 $875K No change
SSRM SSR Mining Inc. 0.11% 152,128 $864K No change
BMRN Biomarin Pharmaceutical Inc. 0.10% 12,000 $843K Add +100.0%
REGN Regeneron Pharmaceuticals 0.10% 800 $841K Add +166.7%
VRTX Vertex Pharmaceuticals Inc. 0.10% 1,800 $837K Add +80.0%
SILV Silvercrest Metals Inc. 0.10% 90,166 $837K Reduce -51.8%
NXE Nexgen Energy Ltd. 0.10% 123,000 $802K No change
AG First Majestic Silver Corp. 0.10% 131,500 $790K No change
RL Ralph Lauren Corp. 0.10% 4,000 $775K No change
EQT Eqt Corp. 0.09% 20,200 $740K Add +80.4%
SYK Stryker Corp. 0.09% 2,000 $723K Reduce -76.1%
SIG Signet Jewelers Ltd. 0.09% 7,000 $722K No change
FSM Fortuna Mining Corp. 0.09% 154,377 $718K Reduce -34.1%
NCLH Norwegian Cruise Line Holdin 0.09% 35,000 $718K Reduce -22.2%
RS Reliance Inc. 0.09% 2,464 $713K Add +39.7%
CTRA Coterra Energy Inc. 0.09% 29,000 $695K No change
STLD Steel Dynamics Inc. 0.08% 5,000 $630K Add +21.9%
ZTS Zoetis Inc. 0.07% 3,000 $586K Reduce -25.0%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.07% 6,700 $575K Add +42.5%
TPL Texas Pacific Land Corp. 0.07% 630 $557K No change
MRO Marathon Oil Corp. 0.07% 20,861 $556K No change
PVH PVH Corp. 0.07% 5,500 $555K No change
RIVN Rivian Automotive Inc. Class A 0.06% 45,000 $505K Reduce -22.4%
RH RH 0.06% 1,500 $502K No change
OVV Ovintiv Inc. 0.06% 12,500 $479K Add +38.9%
TDOC Teladoc Health Inc. 0.06% 50,000 $459K No change
BSX Boston Scientific Corp. 0.05% 5,000 $419K No change
MRNA Moderna Inc. 0.05% 6,000 $401K Add +252.9%
INCY Incyte Corp. 0.05% 6,000 $397K No change
IQV Iqvia Holdings Inc. 0.04% 1,500 $355K Reduce -50.0%
IDXX Idexx Laboratories Inc. 0.04% 700 $354K Reduce -50.0%
VEEV Veeva Systems Inc. Class A 0.04% 1,600 $336K Reduce -83.3%
BAX Baxter International Inc. 0.04% 8,000 $304K Reduce -55.6%
MOS The Mosaic Co. 0.04% 11,000 $295K No change
APA Apa Corp. 0.04% 12,000 $294K No change
GILD Gilead Sciences Inc. 0.03% 3,000 $252K Reduce -50.0%
ILMN Illumina Inc. 0.02% 1,500 $196K No change
LH Labcorp Holdings Inc. 0.02% 800 $179K Reduce -46.7%
A Agilent Technologies Inc. 0.02% 1,200 $178K Reduce -66.7%
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.02% 15,000 $165K No change

Portfolio Sells Q2 2024 → Q3 2024
IVV iShares Core S&P 500 ETF Reduce -10.8% 33.88% −2.20
INTC Intel Corp. Reduce -39.5% 0.44% −0.53
MA Mastercard Inc. Class A Sold out 0.00% −0.44
V Visa Inc. Class A Sold out 0.00% −0.42
AMZN Amazon.com Inc. Reduce -25.5% 0.97% −0.38
NKE Nike Inc. Class B Sold out 0.00% −0.35
COST Costco Wholesale Corp. Sold out 0.00% −0.32
NVDA Nvidia Corp. Reduce -13.6% 1.74% −0.31
DECK Deckers Outdoor Corp. Sold out 0.00% −0.27
SYK Stryker Corp. Reduce -76.1% 0.09% −0.26
WM Waste Management Inc. Reduce -59.7% 0.16% −0.26
AXP American Express Co. Sold out 0.00% −0.25
ECL Ecolab Inc. Sold out 0.00% −0.23
EMR Emerson Electric Co. Sold out 0.00% −0.22
LLY Eli Lilly & Co. Reduce -18.4% 0.79% −0.20
TXN Texas Instruments Inc. Sold out 0.00% −0.19
JNJ Johnson & Johnson Reduce -37.5% 0.40% −0.18
VEEV Veeva Systems Inc. Class A Reduce -83.3% 0.04% −0.18
CRM Salesforce Inc. Reduce -44.4% 0.24% −0.16
BVN Cia DE Minas Buenaventur-ADR Reduce -24.0% 0.22% −0.13
MELI MercadoLibre Inc. Sold out 0.00% −0.13
ON On Semiconductor Reduce -33.3% 0.27% −0.11
ABT Abbott Laboratories Reduce -38.1% 0.18% −0.09
RGLD Royal Gold Inc. Reduce -23.8% 0.50% −0.09
SILV Silvercrest Metals Inc. Reduce -51.8% 0.10% −0.09
PAAS Pan American Silver Corp. Reduce -18.0% 0.51% −0.08
PII Polaris Inc. Sold out 0.00% −0.07
KGC Kinross Gold Corp. Reduce -18.1% 0.68% −0.06
FSM Fortuna Mining Corp. Reduce -34.1% 0.09% −0.05
WSM Williams-Sonoma Inc. Reduce -25.4% 0.19% −0.04
IDXX Idexx Laboratories Inc. Reduce -50.0% 0.04% −0.04
BAX Baxter International Inc. Reduce -55.6% 0.04% −0.04
A Agilent Technologies Inc. Reduce -66.7% 0.02% −0.04
IQV Iqvia Holdings Inc. Reduce -50.0% 0.04% −0.03
RIVN Rivian Automotive Inc. Class A Reduce -22.4% 0.06% −0.03
HLT Hilton Worldwide Holdings Inc. Reduce -11.8% 0.43% −0.03
AMGN Amgen Inc. Reduce -9.8% 0.37% −0.03
EOG EOG Resources Inc. Reduce -4.8% 0.30% −0.02
TOL Toll Brothers Inc. Reduce -34.6% 0.16% −0.02
CI The Cigna Group Reduce -10.5% 0.33% −0.02
GILD Gilead Sciences Inc. Reduce -50.0% 0.03% −0.02
CLF Cleveland-Cliffs Inc. Sold out 0.00% −0.02
NCLH Norwegian Cruise Line Holdin Reduce -22.2% 0.09% −0.02
LH Labcorp Holdings Inc. Reduce -46.7% 0.02% −0.02
ADM Archer-Daniels-Midland Co. Reduce -9.6% 0.12% −0.02
BTG B2GOLD Corp. Reduce -17.9% 0.26% −0.01
ZTS Zoetis Inc. Reduce -25.0% 0.07% −0.01
OR Osisko Gold Royalties Ltd. Reduce -20.4% 0.22% −0.01
HMY Harmony Gold MNG-Spon ADR Reduce -9.9% 0.41% −0.00
ABBV Abbvie Inc. Reduce -12.6% 0.29% +0.00

Portfolio Buys Q2 2024 → Q3 2024
IJR iShares Core S&P Small-Cap E Add +563.5% 2.73% +2.35
MSFT Microsoft Corp. Add +32.4% 2.39% +0.51
GOOGL Alphabet Inc. Class A Add +55.6% 1.43% +0.42
AEM Agnico Eagle Mines Ltd. Add +1.1% 2.11% +0.42
VOO Vanguard S&P 500 ETF Add +11.3% 2.59% +0.38
TTWO Take-Two Interactive Softwre New 0.38% +0.38
WPM Wheaton Precious Metals Corp. Add +9.5% 1.65% +0.36
LRCX Lam Research Corp. Add +172.7% 0.60% +0.31
DXCM Dexcom Inc. Add +150.0% 0.79% +0.25
KLAC KLA Corp. New 0.19% +0.19
META Meta Platforms Inc. Class A Add +10.0% 0.78% +0.15
AVGO Broadcom Inc. Add +6.0% 1.13% +0.14
QCOM Qualcomm Inc. Add +60.0% 0.50% +0.13
AMAT Applied Materials Inc. Add +92.9% 0.34% +0.13
NGD New Gold Inc. New 0.13% +0.13
CRL Charles River Laboratories New 0.12% +0.12
MU Micron Technology Inc. Add +86.7% 0.36% +0.11
ADBE Adobe Inc. Add +33.3% 0.51% +0.10
MRVL Marvell Technology Inc. Add +50.0% 0.27% +0.09
MBLY Mobileye Global Inc. Class A Add +154.6% 0.47% +0.09
BHP BHP Group Ltd.-Spon ADR Add +3.1% 0.75% +0.08
EEM iShares MSCI Emerging Market Add +3.9% 0.73% +0.08
SNOW Snowflake Inc. Add +40.9% 0.44% +0.07
REGN Regeneron Pharmaceuticals Add +166.7% 0.10% +0.06
BIIB Biogen Inc. Add +85.7% 0.16% +0.06
MRK Merck & Co. Inc. Add +20.9% 0.49% +0.05
EW Edwards Lifesciences Corp. Add +133.3% 0.11% +0.05
VRTX Vertex Pharmaceuticals Inc. Add +80.0% 0.10% +0.05
BMRN Biomarin Pharmaceutical Inc. Add +100.0% 0.10% +0.04
XOM Exxon Mobil Corp. Add +1.4% 1.42% +0.04
TECK Teck Resources Ltd.-CLS B Add +28.2% 0.15% +0.04
EQT Eqt Corp. Add +80.4% 0.09% +0.04
GFI Gold Fields Ltd.-Spons ADR Add +2.5% 0.76% +0.04
CTVA Corteva Inc. Add +7.7% 0.20% +0.03
CF CF Industries Holdings Inc. Add +42.5% 0.07% +0.03
RS Reliance Inc. Add +39.7% 0.09% +0.03
MRNA Moderna Inc. Add +252.9% 0.05% +0.02
NUE Nucor Corp. Add +22.9% 0.17% +0.02
ELV Elevance Health Inc. Add +23.5% 0.13% +0.02
STLD Steel Dynamics Inc. Add +21.9% 0.08% +0.01
NTR Nutrien Ltd. Add +14.0% 0.12% +0.01
OVV Ovintiv Inc. Add +38.9% 0.06% +0.01
HUM Humana Inc. Add +16.7% 0.14% −0.00
COP Conocophillips Add +4.1% 0.56% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 228$1.4BIVV, NVDA, AAPL, MU, MSFT
Q1 2026 220$1.2BIVV, NVDA, AAPL, MSFT, AEM
Q4 2025 218$1.3BIVV, NVDA, MSFT, AAPL, AMZN
Q3 2025 202$1.2BIVV, NVDA, MSFT, AAPL, AMZN
Q2 2025 175$930.8MIVV, NVDA, AAPL, MSFT, AMZN
Q1 2025 174$881.7MIVV, QQQM, MSFT, QQQE, AAPL
Q4 2024 156$803.5MIVV, QQQM, QQQE, MSFT, VOO
Q3 2024 156$810.8MIVV, QQQM, IJR, VOO, MSFT
Q2 2024 164$809.5MIVV, QQQM, VOO, NVDA, NEM
Q1 2024 159$840.6MIVV, QQQM, AAPL, VOO, B