PKO Investment Management Joint-Stock Co
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 27, 2025), PKO Investment Management Joint-Stock Co reported 202 stock positions worth $1.2 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.7% of the portfolio, followed by Nvidia (NVDA, 5.3%) and Microsoft (MSFT, 4.9%). Compared with Q2 2025, it opened 38 new positions, sold out of 11, added to 51 and reduced 57. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +31%) and the biggest sale an exit from Invesco Nasdaq 100 ETF (QQQM).
- Most Recent 13F
- Q2 2026
- Location
- WARSAW, R9
- CIK
- 0002059321
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0002059321-25-000062 ↗ filed Oct 27, 2025
Holdings Value
Holdings 202 stocks · $1.2B
| IVV iShares Core S&P 500 ETF | 11.74% | 205,246 | $137.4M | Add +31.1% |
| NVDA Nvidia Corp. | 5.29% | 332,000 | $61.9M | Add +14.5% |
| MSFT Microsoft Corp. | 4.87% | 110,000 | $57.0M | Add +34.1% |
| AAPL Apple Inc. | 4.24% | 195,000 | $49.7M | Reduce -12.6% |
| AMZN Amazon.com Inc. | 3.19% | 170,000 | $37.3M | Add +21.4% |
| GOOGL Alphabet Inc. Class A | 2.87% | 138,000 | $33.5M | Reduce -13.8% |
| AVGO Broadcom Inc. | 2.82% | 100,000 | $33.0M | Add +25.0% |
| VOO Vanguard S&P 500 ETF | 2.71% | 51,758 | $31.7M | Add +7.3% |
| AEM Agnico Eagle Mines Ltd. | 2.45% | 169,878 | $28.6M | Add +6.9% |
| NEM Newmont Corp. | 2.38% | 330,553 | $27.9M | Reduce -0.2% |
| TSLA Tesla Inc. | 2.11% | 55,550 | $24.7M | Add +5.0% |
| B Barrick Mining Corp. | 1.98% | 705,921 | $23.2M | Add +1.8% |
| META Meta Platforms Inc. Class A | 1.88% | 30,000 | $22.0M | Add +30.4% |
| WPM Wheaton Precious Metals Corp. | 1.74% | 182,191 | $20.4M | Reduce -0.3% |
| NFLX Netflix Inc. | 1.43% | 14,000 | $16.8M | Add +33.3% |
| COST Costco Wholesale Corp. | 1.23% | 15,500 | $14.3M | Add +34.8% |
| FNV Franco-Nevada Corp. | 1.19% | 62,764 | $14.0M | Add +9.6% |
| ISRG Intuitive Surgical Inc. | 1.11% | 29,105 | $13.0M | Add +16.9% |
| PLTR Palantir Technologies Inc. Class A | 1.04% | 67,000 | $12.2M | Add +28.9% |
| GFI Gold Fields Ltd.-Spons ADR | 1.02% | 285,496 | $12.0M | Reduce -2.9% |
| KGC Kinross Gold Corp. | 0.95% | 450,006 | $11.2M | Add +1.1% |
| AMGN Amgen Inc. | 0.93% | 38,660 | $10.9M | Add +9.6% |
| LLY Eli Lilly & Co. | 0.91% | 13,926 | $10.6M | Reduce -3.5% |
| XOM Exxon Mobil Corp. | 0.83% | 86,481 | $9.8M | Reduce -7.6% |
| AMD Advanced Micro Devices | 0.80% | 58,000 | $9.4M | Reduce -10.8% |
| TMUS T-Mobile US Inc. | 0.80% | 39,000 | $9.3M | Reduce -22.0% |
| UNH Unitedhealth Group Inc. | 0.73% | 24,680 | $8.5M | Reduce -8.2% |
| TXN Texas Instruments Inc. | 0.72% | 46,000 | $8.5M | Add +76.9% |
| JNJ Johnson & Johnson | 0.72% | 45,151 | $8.4M | Reduce -4.2% |
| ABBV Abbvie Inc. | 0.70% | 35,584 | $8.2M | Reduce -9.0% |
| INTU Intuit Inc. | 0.70% | 12,000 | $8.2M | Add +166.7% |
| EEM iShares MSCI Emerging Market | 0.67% | 147,724 | $7.9M | Add +52.2% |
| CVX Chevron Corp. | 0.67% | 50,295 | $7.8M | Add +2.1% |
| IWM iShares Russell 2000 ETF | 0.66% | 32,000 | $7.7M | Add +18.5% |
| AMAT Applied Materials Inc. | 0.63% | 36,000 | $7.4M | Add +2.9% |
| QCOM Qualcomm Inc. | 0.63% | 44,000 | $7.3M | Reduce -31.3% |
| HON Honeywell International Inc. | 0.59% | 33,000 | $6.9M | Add +120.0% |
| ADBE Adobe Inc. | 0.57% | 19,000 | $6.7M | Add +18.8% |
| CSCO Cisco Systems Inc. | 0.56% | 95,000 | $6.5M | Add +26.7% |
| PEP Pepsico Inc. | 0.55% | 46,000 | $6.5M | Reduce -32.4% |
| ADP Automatic Data Processing | 0.55% | 22,000 | $6.5M | Add +46.7% |
| REGN Regeneron Pharmaceuticals | 0.54% | 11,200 | $6.3M | Reduce -40.4% |
| MRK Merck & Co. Inc. | 0.52% | 71,875 | $6.0M | Reduce -7.1% |
| BKNG Booking Holdings Inc. | 0.51% | 1,100 | $5.9M | Add +57.1% |
| MELI MercadoLibre Inc. | 0.50% | 2,500 | $5.8M | Add +78.6% |
| AGI Alamos Gold Inc. Class A | 0.47% | 158,000 | $5.5M | Add +2.3% |
| PAAS Pan American Silver Corp. | 0.47% | 141,224 | $5.5M | Add +10.1% |
| SHOP Shopify Inc. Class A | 0.46% | 36,000 | $5.4M | New |
| ABT Abbott Laboratories | 0.45% | 39,060 | $5.2M | Add +5.4% |
| MRVL Marvell Technology Inc. | 0.43% | 60,000 | $5.0M | No change |
| APP AppLovin Corp. Class A | 0.43% | 7,000 | $5.0M | No change |
| MU Micron Technology Inc. | 0.43% | 30,000 | $5.0M | Add +76.5% |
| MSTR Strategy Inc. | 0.41% | 15,000 | $4.8M | Add +50.0% |
| IEMG iShares Core MSCI Emerging | 0.41% | 73,013 | $4.8M | Reduce -7.6% |
| IJR iShares Core S&P Small-Cap E | 0.40% | 39,786 | $4.7M | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.38% | 11,500 | $4.5M | Reduce -14.8% |
| URTH iShares MSCI World ETF | 0.38% | 24,800 | $4.5M | No change |
| ROP Roper Technologies Inc. | 0.38% | 9,000 | $4.5M | Add +50.0% |
| CEG Constellation Energy | 0.37% | 13,000 | $4.3M | Add +116.7% |
| BHP BHP Group Ltd.-Spon ADR | 0.36% | 76,208 | $4.2M | Reduce -8.6% |
| RGLD Royal Gold Inc. | 0.36% | 21,150 | $4.2M | Reduce -5.6% |
| GILD Gilead Sciences Inc. | 0.36% | 38,000 | $4.2M | Add +322.2% |
| CTAS Cintas Corp. | 0.35% | 20,000 | $4.1M | New |
| AXON Axon Enterprise Inc. | 0.35% | 5,700 | $4.1M | New |
| CDE Coeur Mining Inc. | 0.35% | 215,419 | $4.0M | Reduce -6.1% |
| INTC Intel Corp. | 0.34% | 120,000 | $4.0M | Add +33.3% |
| PYPL PayPal Holdings Inc. | 0.34% | 60,000 | $4.0M | No change |
| HMY Harmony Gold MNG-Spon ADR | 0.33% | 211,700 | $3.8M | Reduce -6.2% |
| PANW Palo Alto Networks Inc. | 0.31% | 18,000 | $3.7M | Reduce -10.0% |
| DXCM Dexcom Inc. | 0.31% | 54,000 | $3.6M | Add +46.0% |
| CLH Clean Harbors Inc. | 0.30% | 15,000 | $3.5M | No change |
| CRWD CrowdStrike Holdings Inc. Class A | 0.29% | 7,000 | $3.4M | New |
| SBUX Starbucks Corp. | 0.29% | 40,000 | $3.4M | Add +33.3% |
| LRCX Lam Research Corp. | 0.29% | 25,000 | $3.3M | No change |
| CDNS Cadence Design SYS Inc. | 0.29% | 9,500 | $3.3M | New |
| CRM Salesforce Inc. | 0.28% | 14,000 | $3.3M | Reduce -36.4% |
| HLT Hilton Worldwide Holdings Inc. | 0.28% | 12,600 | $3.3M | No change |
| SNPS Synopsys Inc. | 0.27% | 6,500 | $3.2M | New |
| MAR Marriott International Class A | 0.27% | 12,300 | $3.2M | No change |
| COP Conocophillips | 0.26% | 32,219 | $3.0M | Reduce -14.8% |
| LULU Lululemon Athletica Inc. | 0.26% | 17,000 | $3.0M | No change |
| ON On Semiconductor | 0.25% | 60,000 | $3.0M | No change |
| CI The Cigna Group | 0.25% | 10,200 | $2.9M | Add +10.9% |
| MDLZ Mondelez International Inc. Class A | 0.25% | 47,000 | $2.9M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 5,700 | $2.8M | Reduce -24.0% |
| EQX Equinox Gold Corp. | 0.23% | 242,387 | $2.7M | Reduce -13.9% |
| TEAM Atlassian Corp. Class A | 0.23% | 17,000 | $2.7M | Add +41.7% |
| KLAC KLA Corp. | 0.23% | 2,500 | $2.7M | No change |
| HL Hecla Mining Co. | 0.22% | 210,500 | $2.5M | No change |
| CMCSA Comcast Corp. Class A | 0.21% | 80,000 | $2.5M | New |
| CVS CVS Health Corp. | 0.21% | 33,300 | $2.5M | No change |
| CCL Carnival Corp. | 0.21% | 85,000 | $2.5M | No change |
| ADI Analog Devices Inc. | 0.21% | 10,000 | $2.5M | Reduce -28.6% |
| IAG Iamgold Corp. | 0.21% | 190,000 | $2.5M | No change |
| DASH DoorDash Inc. Class A | 0.21% | 9,000 | $2.4M | New |
| RSG Republic Services Inc. | 0.21% | 10,500 | $2.4M | Reduce -10.6% |
| ARM Arm Holdings PLC-ADR | 0.21% | 17,000 | $2.4M | New |
| OR Or Royalties Inc. | 0.20% | 59,800 | $2.4M | Reduce -10.5% |
| PFE Pfizer Inc. | 0.20% | 90,000 | $2.3M | No change |
| DHR Danaher Corp. | 0.19% | 11,500 | $2.3M | Reduce -11.5% |
Portfolio Sells Q2 2025 → Q3 2025
| QQQM Invesco Nasdaq 100 ETF | Sold out | 0.00% | −1.83 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Sold out | 0.00% | −1.06 |
| AAPL Apple Inc. | Reduce -12.6% | 4.24% | −0.67 |
| REGN Regeneron Pharmaceuticals | Reduce -40.4% | 0.54% | −0.52 |
| TMUS T-Mobile US Inc. | Reduce -22.0% | 0.80% | −0.48 |
| QCOM Qualcomm Inc. | Reduce -31.3% | 0.63% | −0.47 |
| PEP Pepsico Inc. | Reduce -32.4% | 0.55% | −0.41 |
| CRM Salesforce Inc. | Reduce -36.4% | 0.28% | −0.36 |
| LLY Eli Lilly & Co. | Reduce -3.5% | 0.91% | −0.30 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -14.8% | 0.38% | −0.26 |
| XOM Exxon Mobil Corp. | Reduce -7.6% | 0.83% | −0.25 |
| AMD Advanced Micro Devices | Reduce -10.8% | 0.80% | −0.19 |
| UNH Unitedhealth Group Inc. | Reduce -8.2% | 0.73% | −0.17 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.17 |
| GOOGL Alphabet Inc. Class A | Reduce -13.8% | 2.87% | −0.16 |
| ADI Analog Devices Inc. | Reduce -28.6% | 0.21% | −0.15 |
| MRK Merck & Co. Inc. | Reduce -7.1% | 0.52% | −0.14 |
| HES Hess Corp. | Sold out | 0.00% | −0.14 |
| PANW Palo Alto Networks Inc. | Reduce -10.0% | 0.31% | −0.13 |
| SAND Sandstorm Gold Ltd. | Reduce -53.7% | 0.10% | −0.11 |
| RSG Republic Services Inc. | Reduce -10.6% | 0.21% | −0.11 |
| COP Conocophillips | Reduce -14.8% | 0.26% | −0.10 |
| IEMG iShares Core MSCI Emerging | Reduce -7.6% | 0.41% | −0.10 |
| TMO Thermo Fisher Scientific Inc. | Reduce -24.0% | 0.24% | −0.09 |
| HUM Humana Inc. | Reduce -62.5% | 0.04% | −0.09 |
| XYL Xylem Inc. | Reduce -55.0% | 0.06% | −0.08 |
| DHR Danaher Corp. | Reduce -11.5% | 0.19% | −0.08 |
| FCX Freeport-McMoran Inc. | Reduce -4.7% | 0.18% | −0.08 |
| IQV Iqvia Holdings Inc. | Reduce -56.3% | 0.06% | −0.08 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.08 |
| ABBV Abbvie Inc. | Reduce -9.0% | 0.70% | −0.08 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -8.6% | 0.36% | −0.07 |
| CRL Charles River Laboratories | Reduce -69.1% | 0.02% | −0.07 |
| RGLD Royal Gold Inc. | Reduce -5.6% | 0.36% | −0.07 |
| CTVA Corteva Inc. | Reduce -12.2% | 0.11% | −0.07 |
| JNJ Johnson & Johnson | Reduce -4.2% | 0.72% | −0.06 |
| A Agilent Technologies Inc. | Reduce -41.2% | 0.05% | −0.05 |
| WDS Woodside Energy Group-ADR | Reduce -30.3% | 0.06% | −0.05 |
| TECK Teck Resources Ltd.-CLS B | Reduce -37.6% | 0.05% | −0.04 |
| LVS Las Vegas Sands Corp. | Reduce -24.2% | 0.11% | −0.04 |
| BDX Becton Dickinson and Co. | Reduce -15.6% | 0.10% | −0.04 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.04 |
| SU Suncor Energy Inc. | Reduce -11.9% | 0.14% | −0.04 |
| NUE Nucor Corp. | Reduce -15.3% | 0.09% | −0.04 |
| OVV Ovintiv Inc. | Sold out | 0.00% | −0.03 |
| BIIB Biogen Inc. | Reduce -23.1% | 0.07% | −0.03 |
| OXY Occidental Petroleum Corp. | Reduce -20.4% | 0.07% | −0.03 |
| NTR Nutrien Ltd. | Reduce -11.7% | 0.07% | −0.03 |
| TDOC Teladoc Health Inc. | Sold out | 0.00% | −0.03 |
| BF.B Brown-Forman Corp. Class B | Sold out | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| IVV iShares Core S&P 500 ETF | Add +31.1% | 11.74% | +1.29 |
| MSFT Microsoft Corp. | Add +34.1% | 4.87% | +0.49 |
| SHOP Shopify Inc. Class A | New | 0.46% | +0.46 |
| AVGO Broadcom Inc. | Add +25.0% | 2.82% | +0.45 |
| B Barrick Mining Corp. | Add +1.8% | 1.98% | +0.44 |
| AEM Agnico Eagle Mines Ltd. | Add +6.9% | 2.45% | +0.42 |
| NVDA Nvidia Corp. | Add +14.5% | 5.29% | +0.37 |
| CTAS Cintas Corp. | New | 0.35% | +0.35 |
| AXON Axon Enterprise Inc. | New | 0.35% | +0.35 |
| INTU Intuit Inc. | Add +166.7% | 0.70% | +0.32 |
| TSLA Tesla Inc. | Add +5.0% | 2.11% | +0.31 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.29% | +0.29 |
| CDNS Cadence Design SYS Inc. | New | 0.29% | +0.29 |
| PLTR Palantir Technologies Inc. Class A | Add +28.9% | 1.04% | +0.28 |
| SNPS Synopsys Inc. | New | 0.27% | +0.27 |
| GILD Gilead Sciences Inc. | Add +322.2% | 0.36% | +0.25 |
| HON Honeywell International Inc. | Add +120.0% | 0.59% | +0.22 |
| CMCSA Comcast Corp. Class A | New | 0.21% | +0.21 |
| KGC Kinross Gold Corp. | Add +1.1% | 0.95% | +0.21 |
| DASH DoorDash Inc. Class A | New | 0.21% | +0.21 |
| ARM Arm Holdings PLC-ADR | New | 0.21% | +0.21 |
| MU Micron Technology Inc. | Add +76.5% | 0.43% | +0.20 |
| FNV Franco-Nevada Corp. | Add +9.6% | 1.19% | +0.19 |
| ORLY O'reilly Automotive Inc. | New | 0.18% | +0.18 |
| ABNB Airbnb Inc. Class A | New | 0.18% | +0.18 |
| EEM iShares MSCI Emerging Market | Add +52.2% | 0.67% | +0.17 |
| PDD PDD Holdings Inc. | New | 0.17% | +0.17 |
| CEG Constellation Energy | Add +116.7% | 0.37% | +0.16 |
| WDAY Workday Inc. Class A | New | 0.15% | +0.15 |
| EXC Exelon Corp. | New | 0.15% | +0.15 |
| AEP American Electric Power | New | 0.15% | +0.15 |
| FAST Fastenal Co. | New | 0.15% | +0.15 |
| TTD Trade Desk Inc./the Class A | New | 0.15% | +0.15 |
| DDOG Datadog Inc. Class A | New | 0.15% | +0.15 |
| FTNT Fortinet Inc. | New | 0.14% | +0.14 |
| TXN Texas Instruments Inc. | Add +76.9% | 0.72% | +0.14 |
| INTC Intel Corp. | Add +33.3% | 0.34% | +0.13 |
| MELI MercadoLibre Inc. | Add +78.6% | 0.50% | +0.11 |
| IDXX Idexx Laboratories Inc. | Add +271.4% | 0.14% | +0.10 |
| MCHP Microchip Technology Inc. | New | 0.10% | +0.10 |
| MNST Monster Beverage Corp. | New | 0.10% | +0.10 |
| GEHC GE Healthcare Technology | Add +123.1% | 0.19% | +0.08 |
| PAAS Pan American Silver Corp. | Add +10.1% | 0.47% | +0.08 |
| ADSK Autodesk Inc. | New | 0.08% | +0.08 |
| BKNG Booking Holdings Inc. | Add +57.1% | 0.51% | +0.07 |
| META Meta Platforms Inc. Class A | Add +30.4% | 1.88% | +0.06 |
| ADP Automatic Data Processing | Add +46.7% | 0.55% | +0.05 |
| COR Cencora Inc. | New | 0.05% | +0.05 |
| RMD Resmed Inc. | New | 0.05% | +0.05 |
| MCK McKesson Corp. | Add +133.3% | 0.09% | +0.05 |
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 |