PKO Investment Management Joint-Stock Co
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), PKO Investment Management Joint-Stock Co reported 175 stock positions worth $930.8 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 10.4% of the portfolio, followed by Nvidia (NVDA, 4.9%) and Apple (AAPL, 4.9%). Compared with Q1 2025, it opened 8 new positions, sold out of 7, added to 48 and reduced 68. The biggest buy was Nvidia (NVDA, shares +7%) and the biggest sale Dirx Nasdaq-100EQ Wi ETF-Usd (QQQE, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002059321
- Portfolio Value
- $930.8M (Q2 2025)
- SEC Filing
- 0002059321-25-000059 ↗ filed Jul 31, 2025
Holdings Value
Holdings 175 stocks · $930.8M
| IVV iShares Core S&P 500 ETF | 10.45% | 156,612 | $97.2M | Reduce -23.4% |
| NVDA Nvidia Corp. | 4.92% | 290,000 | $45.8M | Add +7.4% |
| AAPL Apple Inc. | 4.92% | 223,000 | $45.8M | Add +48.7% |
| MSFT Microsoft Corp. | 4.38% | 82,000 | $40.8M | Reduce -21.1% |
| AMZN Amazon.com Inc. | 3.30% | 140,000 | $30.7M | Add +7.7% |
| GOOGL Alphabet Inc. Class A | 3.03% | 160,000 | $28.2M | Add +10.3% |
| VOO Vanguard S&P 500 ETF | 2.94% | 48,258 | $27.4M | Add +1.5% |
| AVGO Broadcom Inc. | 2.37% | 80,000 | $22.1M | Reduce -27.3% |
| NEM Newmont Corp. | 2.07% | 331,353 | $19.3M | Reduce -3.2% |
| AEM Agnico Eagle Mines Ltd. | 2.03% | 158,978 | $18.9M | Add +3.6% |
| QQQM Invesco Nasdaq 100 ETF | 1.83% | 75,000 | $17.0M | Reduce -65.9% |
| META Meta Platforms Inc. Class A | 1.82% | 23,000 | $17.0M | Add +9.5% |
| TSLA Tesla Inc. | 1.81% | 52,900 | $16.8M | Reduce -9.3% |
| WPM Wheaton Precious Metals Corp. | 1.76% | 182,691 | $16.4M | Reduce -3.3% |
| B Barrick Mining Corp. | 1.54% | 693,221 | $14.4M | Reduce -2.7% |
| NFLX Netflix Inc. | 1.51% | 10,500 | $14.1M | Add +34.6% |
| ISRG Intuitive Surgical Inc. | 1.45% | 24,905 | $13.5M | Add +149.1% |
| TMUS T-Mobile US Inc. | 1.28% | 50,000 | $11.9M | New |
| COST Costco Wholesale Corp. | 1.22% | 11,500 | $11.4M | No change |
| LLY Eli Lilly & Co. | 1.21% | 14,426 | $11.2M | Add +50.3% |
| QCOM Qualcomm Inc. | 1.09% | 64,000 | $10.2M | Add +29.7% |
| XOM Exxon Mobil Corp. | 1.08% | 93,581 | $10.1M | Add +13.6% |
| REGN Regeneron Pharmaceuticals | 1.06% | 18,800 | $9.9M | Add +22.9% |
| AMGN Amgen Inc. | 1.06% | 35,260 | $9.8M | Add +310.0% |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | 1.06% | 100,000 | $9.8M | Reduce -76.2% |
| FNV Franco-Nevada Corp. | 1.01% | 57,264 | $9.4M | Add +9.8% |
| AMD Advanced Micro Devices | 0.99% | 65,000 | $9.2M | Reduce -44.6% |
| PEP Pepsico Inc. | 0.96% | 68,000 | $9.0M | Add +126.7% |
| UNH Unitedhealth Group Inc. | 0.90% | 26,880 | $8.4M | Add +93.5% |
| ABBV Abbvie Inc. | 0.78% | 39,084 | $7.3M | Add +144.3% |
| JNJ Johnson & Johnson | 0.77% | 47,151 | $7.2M | Add +92.5% |
| PLTR Palantir Technologies Inc. Class A | 0.76% | 52,000 | $7.1M | Add +30.0% |
| CVX Chevron Corp. | 0.76% | 49,273 | $7.1M | Add +4.9% |
| GFI Gold Fields Ltd.-Spons ADR | 0.75% | 293,996 | $7.0M | Reduce -10.9% |
| KGC Kinross Gold Corp. | 0.74% | 445,006 | $6.9M | Reduce -11.2% |
| AMAT Applied Materials Inc. | 0.69% | 35,000 | $6.4M | Reduce -32.7% |
| ADBE Adobe Inc. | 0.67% | 16,000 | $6.2M | Reduce -11.4% |
| MRK Merck & Co. Inc. | 0.66% | 77,375 | $6.1M | Add +46.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.65% | 13,500 | $6.0M | Add +650.0% |
| CRM Salesforce Inc. | 0.64% | 22,000 | $6.0M | Add +46.7% |
| IWM iShares Russell 2000 ETF | 0.63% | 27,000 | $5.8M | No change |
| TXN Texas Instruments Inc. | 0.58% | 26,000 | $5.4M | Reduce -30.8% |
| CSCO Cisco Systems Inc. | 0.56% | 75,000 | $5.2M | Add +150.0% |
| ABT Abbott Laboratories | 0.54% | 37,060 | $5.0M | Add +105.9% |
| IEMG iShares Core MSCI Emerging | 0.51% | 79,013 | $4.7M | Reduce -9.2% |
| EEM iShares MSCI Emerging Market | 0.50% | 97,074 | $4.7M | Reduce -62.6% |
| MRVL Marvell Technology Inc. | 0.50% | 60,000 | $4.6M | Reduce -25.0% |
| ADP Automatic Data Processing | 0.50% | 15,000 | $4.6M | Add +87.5% |
| PYPL PayPal Holdings Inc. | 0.48% | 60,000 | $4.5M | No change |
| IJR iShares Core S&P Small-Cap E | 0.47% | 39,786 | $4.3M | Reduce -20.1% |
| URTH iShares MSCI World ETF | 0.45% | 24,800 | $4.2M | No change |
| PANW Palo Alto Networks Inc. | 0.44% | 20,000 | $4.1M | Reduce -16.7% |
| AGI Alamos Gold Inc. Class A | 0.44% | 154,500 | $4.1M | Add +7.7% |
| BKNG Booking Holdings Inc. | 0.44% | 700 | $4.1M | Add +40.0% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.43% | 10,000 | $4.0M | New |
| LULU Lululemon Athletica Inc. | 0.43% | 17,000 | $4.0M | Add +70.0% |
| BHP BHP Group Ltd.-Spon ADR | 0.43% | 83,408 | $4.0M | No change |
| RGLD Royal Gold Inc. | 0.43% | 22,400 | $4.0M | Reduce -8.2% |
| MELI MercadoLibre Inc. | 0.39% | 1,400 | $3.7M | Reduce -6.7% |
| PAAS Pan American Silver Corp. | 0.39% | 128,266 | $3.6M | Reduce -25.1% |
| INTU Intuit Inc. | 0.38% | 4,500 | $3.5M | Reduce -30.8% |
| HON Honeywell International Inc. | 0.38% | 15,000 | $3.5M | Reduce -31.8% |
| CLH Clean Harbors Inc. | 0.37% | 15,000 | $3.5M | No change |
| ROP Roper Technologies Inc. | 0.37% | 6,000 | $3.4M | New |
| COP Conocophillips | 0.36% | 37,819 | $3.4M | Add +8.6% |
| MAR Marriott International Class A | 0.36% | 12,300 | $3.4M | Reduce -7.5% |
| HLT Hilton Worldwide Holdings Inc. | 0.36% | 12,600 | $3.4M | Reduce -1.6% |
| ADI Analog Devices Inc. | 0.36% | 14,000 | $3.3M | Reduce -48.1% |
| DXCM Dexcom Inc. | 0.35% | 37,000 | $3.2M | Reduce -59.3% |
| MDLZ Mondelez International Inc. Class A | 0.34% | 47,000 | $3.2M | New |
| HMY Harmony Gold MNG-Spon ADR | 0.34% | 225,700 | $3.2M | Reduce -1.3% |
| ON On Semiconductor | 0.34% | 60,000 | $3.1M | Reduce -25.0% |
| CI The Cigna Group | 0.33% | 9,200 | $3.0M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.33% | 7,500 | $3.0M | Add +25.0% |
| RSG Republic Services Inc. | 0.31% | 11,747 | $2.9M | No change |
| SBUX Starbucks Corp. | 0.30% | 30,000 | $2.7M | New |
| DHR Danaher Corp. | 0.28% | 13,000 | $2.6M | Add +11.1% |
| APP AppLovin Corp. Class A | 0.26% | 7,000 | $2.5M | Reduce -58.8% |
| TEAM Atlassian Corp. Class A | 0.26% | 12,000 | $2.4M | New |
| LRCX Lam Research Corp. | 0.26% | 25,000 | $2.4M | Reduce -70.9% |
| FCX Freeport-McMoran Inc. | 0.26% | 55,300 | $2.4M | Add +11.5% |
| CCL Carnival Corp. | 0.26% | 85,000 | $2.4M | Reduce -15.0% |
| CVS CVS Health Corp. | 0.25% | 33,300 | $2.3M | Add +9.9% |
| KLAC KLA Corp. | 0.24% | 2,500 | $2.2M | Reduce -54.5% |
| PFE Pfizer Inc. | 0.23% | 90,000 | $2.2M | Reduce -4.3% |
| WCN Waste Connections Inc. | 0.23% | 11,448 | $2.1M | No change |
| MU Micron Technology Inc. | 0.23% | 17,000 | $2.1M | Reduce -77.3% |
| CDE Coeur Mining Inc. | 0.22% | 229,419 | $2.0M | Add +37.0% |
| INTC Intel Corp. | 0.22% | 90,000 | $2.0M | Reduce -3.2% |
| CNQ Canadian Natural Resources | 0.21% | 63,400 | $2.0M | No change |
| SAND Sandstorm Gold Ltd. | 0.21% | 210,400 | $2.0M | No change |
| CEG Constellation Energy | 0.21% | 6,000 | $1.9M | Reduce -71.4% |
| EOG EOG Resources Inc. | 0.19% | 14,500 | $1.7M | Reduce -14.7% |
| NGD New Gold Inc. | 0.19% | 350,000 | $1.7M | No change |
| OR Or Royalties Inc. | 0.18% | 66,800 | $1.7M | Reduce -14.1% |
| SU Suncor Energy Inc. | 0.18% | 44,500 | $1.7M | No change |
| CTVA Corteva Inc. | 0.18% | 22,198 | $1.7M | Reduce -0.5% |
| EQX Equinox Gold Corp. | 0.17% | 281,387 | $1.6M | Add +50.6% |
| BTG B2GOLD Corp. | 0.17% | 449,000 | $1.6M | Reduce -13.5% |
| EA Electronic Arts Inc. | 0.17% | 10,000 | $1.6M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Reduce -76.2% | 1.06% | −3.10 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -65.9% | 1.83% | −2.99 |
| IVV iShares Core S&P 500 ETF | Reduce -23.4% | 10.45% | −2.59 |
| EEM iShares MSCI Emerging Market | Reduce -62.6% | 0.50% | −0.78 |
| MU Micron Technology Inc. | Reduce -77.3% | 0.23% | −0.51 |
| LRCX Lam Research Corp. | Reduce -70.9% | 0.26% | −0.45 |
| AMD Advanced Micro Devices | Reduce -44.6% | 0.99% | −0.38 |
| DXCM Dexcom Inc. | Reduce -59.3% | 0.35% | −0.36 |
| CEG Constellation Energy | Reduce -71.4% | 0.21% | −0.27 |
| ADI Analog Devices Inc. | Reduce -48.1% | 0.36% | −0.26 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.26 |
| APP AppLovin Corp. Class A | Reduce -58.8% | 0.26% | −0.25 |
| TXN Texas Instruments Inc. | Reduce -30.8% | 0.58% | −0.19 |
| KLAC KLA Corp. | Reduce -54.5% | 0.24% | −0.18 |
| AMAT Applied Materials Inc. | Reduce -32.7% | 0.69% | −0.17 |
| HON Honeywell International Inc. | Reduce -31.8% | 0.38% | −0.15 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −0.13 |
| IJR iShares Core S&P Small-Cap E | Reduce -20.1% | 0.47% | −0.12 |
| ADBE Adobe Inc. | Reduce -11.4% | 0.67% | −0.12 |
| IDXX Idexx Laboratories Inc. | Reduce -78.8% | 0.04% | −0.12 |
| PAAS Pan American Silver Corp. | Reduce -25.1% | 0.39% | −0.11 |
| TOL Toll Brothers Inc. | Reduce -53.3% | 0.09% | −0.10 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.10 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.10 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.09 |
| DOW Dow Inc. | Sold out | 0.00% | −0.09 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -10.9% | 0.75% | −0.08 |
| INTU Intuit Inc. | Reduce -30.8% | 0.38% | −0.07 |
| MCK McKesson Corp. | Reduce -60.0% | 0.05% | −0.07 |
| EOG EOG Resources Inc. | Reduce -14.7% | 0.19% | −0.06 |
| MRVL Marvell Technology Inc. | Reduce -25.0% | 0.50% | −0.06 |
| HCA HCA Healthcare Inc. | Reduce -48.5% | 0.07% | −0.06 |
| EW Edwards Lifesciences Corp. | Reduce -41.2% | 0.08% | −0.06 |
| SYK Stryker Corp. | Reduce -23.1% | 0.17% | −0.05 |
| DRD Drdgold Ltd.-Sponsored ADR | Reduce -43.3% | 0.04% | −0.05 |
| MSFT Microsoft Corp. | Reduce -21.1% | 4.38% | −0.05 |
| HMY Harmony Gold MNG-Spon ADR | Reduce -1.3% | 0.34% | −0.04 |
| CGAU Centerra Gold Inc. | Reduce -45.5% | 0.06% | −0.04 |
| PFE Pfizer Inc. | Reduce -4.3% | 0.23% | −0.04 |
| FSM Fortuna Mining Corp. | Reduce -32.4% | 0.07% | −0.03 |
| ON On Semiconductor | Reduce -25.0% | 0.34% | −0.03 |
| OXY Occidental Petroleum Corp. | Reduce -4.5% | 0.10% | −0.03 |
| B Barrick Mining Corp. | Reduce -2.7% | 1.54% | −0.03 |
| BVN Cia DE Minas Buenaventur-ADR | Reduce -14.7% | 0.15% | −0.03 |
| LH Labcorp Holdings Inc. | Sold out | 0.00% | −0.03 |
| PANW Palo Alto Networks Inc. | Reduce -16.7% | 0.44% | −0.02 |
| RGLD Royal Gold Inc. | Reduce -8.2% | 0.43% | −0.02 |
| MAG Mag Silver Corp. | Reduce -41.4% | 0.08% | −0.02 |
| IEMG iShares Core MSCI Emerging | Reduce -9.2% | 0.51% | −0.02 |
| INTC Intel Corp. | Reduce -3.2% | 0.22% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +7.4% | 4.92% | +1.60 |
| TMUS T-Mobile US Inc. | New | 1.28% | +1.28 |
| AAPL Apple Inc. | Add +48.7% | 4.92% | +1.14 |
| ISRG Intuitive Surgical Inc. | Add +149.1% | 1.45% | +0.89 |
| AMGN Amgen Inc. | Add +310.0% | 1.06% | +0.75 |
| NFLX Netflix Inc. | Add +34.6% | 1.51% | +0.69 |
| VRTX Vertex Pharmaceuticals Inc. | Add +650.0% | 0.65% | +0.55 |
| AMZN Amazon.com Inc. | Add +7.7% | 3.30% | +0.49 |
| GOOGL Alphabet Inc. Class A | Add +10.3% | 3.03% | +0.49 |
| PEP Pepsico Inc. | Add +126.7% | 0.96% | +0.45 |
| META Meta Platforms Inc. Class A | Add +9.5% | 1.82% | +0.45 |
| MSTR Strategy Inc. | New | 0.43% | +0.43 |
| ABBV Abbvie Inc. | Add +144.3% | 0.78% | +0.40 |
| PLTR Palantir Technologies Inc. Class A | Add +30.0% | 0.76% | +0.38 |
| ROP Roper Technologies Inc. | New | 0.37% | +0.37 |
| CSCO Cisco Systems Inc. | Add +150.0% | 0.56% | +0.35 |
| MDLZ Mondelez International Inc. Class A | New | 0.34% | +0.34 |
| JNJ Johnson & Johnson | Add +92.5% | 0.77% | +0.31 |
| LLY Eli Lilly & Co. | Add +50.3% | 1.21% | +0.31 |
| SBUX Starbucks Corp. | New | 0.30% | +0.30 |
| ABT Abbott Laboratories | Add +105.9% | 0.54% | +0.27 |
| TEAM Atlassian Corp. Class A | New | 0.26% | +0.26 |
| QCOM Qualcomm Inc. | Add +29.7% | 1.09% | +0.24 |
| ADP Automatic Data Processing | Add +87.5% | 0.50% | +0.22 |
| CRM Salesforce Inc. | Add +46.7% | 0.64% | +0.19 |
| BKNG Booking Holdings Inc. | Add +40.0% | 0.44% | +0.17 |
| VOO Vanguard S&P 500 ETF | Add +1.5% | 2.94% | +0.17 |
| AEM Agnico Eagle Mines Ltd. | Add +3.6% | 2.03% | +0.14 |
| MRK Merck & Co. Inc. | Add +46.3% | 0.66% | +0.12 |
| LULU Lululemon Athletica Inc. | Add +70.0% | 0.43% | +0.11 |
| ORLA Orla Mining Ltd. | New | 0.11% | +0.11 |
| CDE Coeur Mining Inc. | Add +37.0% | 0.22% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +93.5% | 0.90% | +0.08 |
| FNV Franco-Nevada Corp. | Add +9.8% | 1.01% | +0.07 |
| GILD Gilead Sciences Inc. | Add +200.0% | 0.11% | +0.07 |
| HUM Humana Inc. | Add +140.0% | 0.13% | +0.07 |
| BMY Bristol-Myers Squibb Co. | Add +137.5% | 0.14% | +0.06 |
| AAUC Allied Gold Corp. | New | 0.05% | +0.05 |
| FCX Freeport-McMoran Inc. | Add +11.5% | 0.26% | +0.04 |
| AG First Majestic Silver Corp. | Add +20.5% | 0.14% | +0.04 |
| WYNN WYNN Resorts Ltd. | Add +37.5% | 0.11% | +0.03 |
| LVS Las Vegas Sands Corp. | Add +17.9% | 0.15% | +0.03 |
| EQX Equinox Gold Corp. | Add +50.6% | 0.17% | +0.03 |
| TECK Teck Resources Ltd.-CLS B | Add +28.9% | 0.10% | +0.02 |
| CVS CVS Health Corp. | Add +9.9% | 0.25% | +0.01 |
| DHR Danaher Corp. | Add +11.1% | 0.28% | +0.00 |
| AGI Alamos Gold Inc. Class A | Add +7.7% | 0.44% | +0.00 |
| DVN Devon Energy Corp. | Add +29.3% | 0.06% | +0.00 |
| IQV Iqvia Holdings Inc. | Add +14.3% | 0.14% | −0.00 |
| ELV Elevance Health Inc. | Add +11.1% | 0.17% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 228 | $1.4B | IVV, NVDA, AAPL, MU, MSFT |
| Q1 2026 | 220 | $1.2B | IVV, NVDA, AAPL, MSFT, AEM |
| Q4 2025 | 218 | $1.3B | IVV, NVDA, MSFT, AAPL, AMZN |
| Q3 2025 | 202 | $1.2B | IVV, NVDA, MSFT, AAPL, AMZN |
| Q2 2025 | 175 | $930.8M | IVV, NVDA, AAPL, MSFT, AMZN |
| Q1 2025 | 174 | $881.7M | IVV, QQQM, MSFT, QQQE, AAPL |
| Q4 2024 | 156 | $803.5M | IVV, QQQM, QQQE, MSFT, VOO |
| Q3 2024 | 156 | $810.8M | IVV, QQQM, IJR, VOO, MSFT |
| Q2 2024 | 164 | $809.5M | IVV, QQQM, VOO, NVDA, NEM |
| Q1 2024 | 159 | $840.6M | IVV, QQQM, AAPL, VOO, B |