S-Bank Fund Management Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), S-Bank Fund Management Ltd reported 209 stock positions worth $677.5 million. Its top holding was Microsoft (MSFT) at 8.7% of the portfolio, followed by Nvidia (NVDA, 8.5%) and Amazon.com (AMZN, 4.6%). Compared with Q1 2025, it opened 43 new positions, sold out of 26, added to 32 and reduced 134. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale Alphabet Class A (GOOGL, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- HELSINKI, H9
- CIK
- 0002036461
- Portfolio Value
- $677.5M (Q2 2025)
- SEC Filing
- 0002036461-25-000003 ↗ filed Jul 29, 2025
Holdings Value
Holdings 209 stocks · $677.5M
| MSFT Microsoft Corp. | 8.70% | 118,429 | $58.9M | Reduce -14.0% |
| NVDA Nvidia Corp. | 8.50% | 364,559 | $57.6M | Reduce -2.5% |
| AMZN Amazon.com Inc. | 4.61% | 142,250 | $31.2M | New |
| AAPL Apple Inc. | 4.05% | 133,689 | $27.4M | New |
| AVGO Broadcom Inc. | 2.89% | 71,106 | $19.6M | Reduce -4.0% |
| V Visa Inc. Class A | 2.39% | 45,620 | $16.2M | Reduce -14.4% |
| LLY Eli Lilly & Co. | 2.29% | 19,932 | $15.5M | Add +111.9% |
| META Meta Platforms Inc. Class A | 2.18% | 20,000 | $14.8M | Add +327.1% |
| TSLA Tesla Inc. | 2.07% | 44,209 | $14.0M | Reduce -17.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.98% | 283,892 | $13.4M | New |
| GOOGL Alphabet Inc. Class A | 1.97% | 75,618 | $13.3M | Reduce -31.7% |
| TMO Thermo Fisher Scientific Inc. | 1.42% | 23,751 | $9.6M | Add +22.9% |
| NFLX Netflix Inc. | 1.33% | 6,752 | $9.0M | Reduce -19.4% |
| WFC Wells Fargo & Co. | 1.32% | 112,001 | $9.0M | Reduce -17.2% |
| MU Micron Technology Inc. | 1.29% | 70,817 | $8.7M | Reduce -12.9% |
| JPM JPMorgan Chase & Co. | 1.28% | 29,962 | $8.7M | Reduce -18.9% |
| PLD Prologis Inc. | 1.21% | 77,892 | $8.2M | Reduce -2.3% |
| MA Mastercard Inc. Class A | 1.19% | 14,373 | $8.1M | Add +12.3% |
| GOOG Alphabet Inc. Class C | 1.18% | 45,127 | $8.0M | Reduce -6.2% |
| ACN Accenture PLC Class A | 1.05% | 23,702 | $7.1M | New |
| MRVL Marvell Technology Inc. | 1.04% | 90,665 | $7.0M | Add +285.0% |
| DLR Digital Realty Trust Inc. | 1.01% | 39,088 | $6.8M | Reduce -10.3% |
| INTU Intuit Inc. | 0.99% | 8,505 | $6.7M | Reduce -11.4% |
| TMUS T-Mobile US Inc. | 0.98% | 27,900 | $6.6M | Reduce -4.1% |
| MCD McDonald's Corp. | 0.95% | 22,141 | $6.5M | Reduce -11.5% |
| EQIX Equinix Inc. | 0.94% | 8,013 | $6.4M | Reduce -10.0% |
| ALL Allstate Corp. | 0.93% | 31,233 | $6.3M | New |
| NEE Nextera Energy Inc. | 0.92% | 90,000 | $6.2M | Reduce -13.7% |
| JNJ Johnson & Johnson | 0.91% | 40,296 | $6.2M | Reduce -20.4% |
| SNPS Synopsys Inc. | 0.91% | 11,996 | $6.2M | Add +1.6% |
| MRK Merck & Co. Inc. | 0.91% | 77,588 | $6.1M | Reduce -12.6% |
| SHW The Sherwin-Williams Co. | 0.90% | 17,813 | $6.1M | Reduce -6.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.90% | 20,663 | $6.1M | Reduce -8.2% |
| CSCO Cisco Systems Inc. | 0.87% | 84,546 | $5.9M | Reduce -31.9% |
| ULTA Ulta Beauty Inc. | 0.86% | 12,501 | $5.8M | Reduce -10.6% |
| DHR Danaher Corp. | 0.84% | 28,838 | $5.7M | Reduce -3.3% |
| CRM Salesforce Inc. | 0.82% | 20,376 | $5.6M | Reduce -7.2% |
| TRMB Trimble Inc. | 0.81% | 72,059 | $5.5M | Add +11.8% |
| GLOB Globant SA | 0.79% | 59,000 | $5.4M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.78% | 42,555 | $5.3M | Reduce -37.9% |
| BDX Becton Dickinson and Co. | 0.75% | 29,657 | $5.1M | New |
| GEV GE Vernova Inc. | 0.70% | 9,000 | $4.8M | Reduce -6.7% |
| ABT Abbott Laboratories | 0.69% | 34,565 | $4.7M | New |
| XYL Xylem Inc. | 0.67% | 34,976 | $4.5M | Add +0.5% |
| ECL Ecolab Inc. | 0.65% | 16,306 | $4.4M | Add +15.4% |
| KR Kroger Co. | 0.64% | 60,000 | $4.3M | Reduce -18.7% |
| HDB HDFC Bank Ltd.-ADR | 0.61% | 53,925 | $4.1M | Reduce -10.1% |
| ROST Ross Stores Inc. | 0.57% | 30,085 | $3.8M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.54% | 23,000 | $3.7M | Reduce -11.5% |
| AMAT Applied Materials Inc. | 0.54% | 20,000 | $3.7M | New |
| ORCL Oracle Corp. | 0.54% | 16,658 | $3.6M | Reduce -8.2% |
| ROK Rockwell Automation Inc. | 0.54% | 10,946 | $3.6M | Reduce -47.2% |
| NOW ServiceNow Inc. | 0.52% | 3,410 | $3.5M | Reduce -7.1% |
| XOM Exxon Mobil Corp. | 0.51% | 32,000 | $3.4M | Reduce -26.7% |
| AWK American Water Works Co. Inc. | 0.50% | 24,335 | $3.4M | New |
| EMR Emerson Electric Co. | 0.49% | 25,000 | $3.3M | Reduce -13.9% |
| LULU Lululemon Athletica Inc. | 0.49% | 13,980 | $3.3M | Reduce -15.7% |
| QCOM Qualcomm Inc. | 0.48% | 20,468 | $3.3M | Reduce -12.7% |
| UNH Unitedhealth Group Inc. | 0.47% | 10,144 | $3.2M | Add +35.3% |
| HD Home Depot Inc. | 0.46% | 8,545 | $3.1M | Reduce -4.9% |
| FSLR First Solar Inc. | 0.43% | 17,798 | $2.9M | Reduce -63.6% |
| AXON Axon Enterprise Inc. | 0.43% | 3,522 | $2.9M | Add +290.5% |
| AMD Advanced Micro Devices | 0.43% | 20,342 | $2.9M | New |
| EOG EOG Resources Inc. | 0.42% | 24,000 | $2.9M | Reduce -13.5% |
| LIN Linde PLC | 0.42% | 6,000 | $2.8M | New |
| EIX Edison International | 0.38% | 50,278 | $2.6M | Reduce -0.8% |
| CCI Crown Castle Inc. | 0.38% | 24,950 | $2.6M | Reduce -32.7% |
| KO The Coca-Cola Co. | 0.38% | 36,000 | $2.5M | Reduce -8.7% |
| TXN Texas Instruments Inc. | 0.37% | 12,063 | $2.5M | Reduce -7.3% |
| SPGI S&P Global Inc. | 0.36% | 4,639 | $2.4M | Reduce -25.0% |
| MCO Moody's Corp. | 0.35% | 4,789 | $2.4M | Reduce -24.2% |
| ABBV Abbvie Inc. | 0.35% | 12,866 | $2.4M | Reduce -4.8% |
| ZTS Zoetis Inc. | 0.33% | 14,481 | $2.3M | Add +14.9% |
| ADI Analog Devices Inc. | 0.32% | 9,062 | $2.2M | New |
| AME Ametek Inc. | 0.29% | 10,754 | $1.9M | New |
| MMYT Makemytrip Ltd. | 0.27% | 19,000 | $1.9M | New |
| MSI Motorola Solutions Inc. | 0.24% | 3,926 | $1.7M | Reduce -8.1% |
| AFL Aflac Inc. | 0.24% | 15,616 | $1.6M | New |
| ADBE Adobe Inc. | 0.24% | 4,237 | $1.6M | Reduce -6.8% |
| GRAB Grab Holdings Ltd. Class A | 0.24% | 320,000 | $1.6M | New |
| MRSH Marsh & McLennan Cos | 0.24% | 7,296 | $1.6M | Reduce -6.9% |
| ESS Essex Property Trust Inc. | 0.23% | 5,539 | $1.6M | Add +13.0% |
| RPRX Royalty Pharma PLC Class A | 0.23% | 43,508 | $1.6M | New |
| CB Chubb Ltd. | 0.22% | 5,181 | $1.5M | New |
| BXP BXP Inc. | 0.22% | 22,159 | $1.5M | Reduce -6.7% |
| SCHW Schwab (charles) Corp. | 0.22% | 16,267 | $1.5M | Reduce -7.7% |
| DOC Healthpeak Properties Inc. | 0.21% | 80,113 | $1.4M | Reduce -7.7% |
| RIVN Rivian Automotive Inc. Class A | 0.20% | 99,145 | $1.4M | Add +9.9% |
| AXP American Express Co. | 0.20% | 4,238 | $1.4M | New |
| AVB Avalonbay Communities Inc. | 0.19% | 6,289 | $1.3M | New |
| ISRG Intuitive Surgical Inc. | 0.18% | 2,235 | $1.2M | Reduce -9.4% |
| KLAC KLA Corp. | 0.18% | 1,339 | $1.2M | Reduce -7.1% |
| PGR Progressive Corp. | 0.17% | 4,322 | $1.2M | Reduce -26.0% |
| CME Cme Group Inc. | 0.17% | 4,178 | $1.2M | Reduce -8.0% |
| UNP Union Pacific Corp. | 0.17% | 5,000 | $1.2M | Reduce -49.2% |
| BMY Bristol-Myers Squibb Co. | 0.16% | 24,061 | $1.1M | Reduce -77.6% |
| MTD Mettler-Toledo International | 0.16% | 939 | $1.1M | Reduce -5.4% |
| CSGP Costar Group Inc. | 0.16% | 13,316 | $1.1M | Reduce -70.9% |
| BSX Boston Scientific Corp. | 0.16% | 9,939 | $1.1M | Reduce -28.2% |
| ADSK Autodesk Inc. | 0.15% | 3,393 | $1.1M | New |
Portfolio Sells Q1 2025 → Q2 2025
| GOOGL Alphabet Inc. Class A | Reduce -31.7% | 1.97% | −1.26 |
| V Visa Inc. Class A | Reduce -14.4% | 2.39% | −1.12 |
| BMY Bristol-Myers Squibb Co. | Reduce -77.6% | 0.16% | −1.07 |
| MSFT Microsoft Corp. | Reduce -14.0% | 8.70% | −1.04 |
| FSLR First Solar Inc. | Reduce -63.6% | 0.43% | −0.73 |
| CSL Carlisle Cos Inc. | Sold out | 0.00% | −0.73 |
| JNJ Johnson & Johnson | Reduce -20.4% | 0.91% | −0.67 |
| MRK Merck & Co. Inc. | Reduce -12.6% | 0.91% | −0.59 |
| CSCO Cisco Systems Inc. | Reduce -31.9% | 0.87% | −0.58 |
| TSLA Tesla Inc. | Reduce -17.8% | 2.07% | −0.55 |
| CSGP Costar Group Inc. | Reduce -70.9% | 0.16% | −0.53 |
| MCD McDonald's Corp. | Reduce -11.5% | 0.95% | −0.52 |
| WFC Wells Fargo & Co. | Reduce -17.2% | 1.32% | −0.50 |
| DAR Darling Ingredients Inc. | Reduce -80.9% | 0.11% | −0.50 |
| DIS The Walt Disney Co. | Reduce -37.9% | 0.78% | −0.49 |
| TMUS T-Mobile US Inc. | Reduce -4.1% | 0.98% | −0.48 |
| ROK Rockwell Automation Inc. | Reduce -47.2% | 0.54% | −0.47 |
| NEE Nextera Energy Inc. | Reduce -13.7% | 0.92% | −0.47 |
| PLD Prologis Inc. | Reduce -2.3% | 1.21% | −0.47 |
| XOM Exxon Mobil Corp. | Reduce -26.7% | 0.51% | −0.47 |
| EQIX Equinix Inc. | Reduce -10.0% | 0.94% | −0.43 |
| JPM JPMorgan Chase & Co. | Reduce -18.9% | 1.28% | −0.42 |
| LULU Lululemon Athletica Inc. | Reduce -15.7% | 0.49% | −0.39 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.38 |
| ACM Aecom | Sold out | 0.00% | −0.36 |
| CCI Crown Castle Inc. | Reduce -32.7% | 0.38% | −0.35 |
| SHW The Sherwin-Williams Co. | Reduce -6.3% | 0.90% | −0.35 |
| DHR Danaher Corp. | Reduce -3.3% | 0.84% | −0.31 |
| KR Kroger Co. | Reduce -18.7% | 0.64% | −0.31 |
| PG The Procter & Gamble Co. | Reduce -11.5% | 0.54% | −0.29 |
| CRM Salesforce Inc. | Reduce -7.2% | 0.82% | −0.29 |
| UNP Union Pacific Corp. | Reduce -49.2% | 0.17% | −0.27 |
| EOG EOG Resources Inc. | Reduce -13.5% | 0.42% | −0.25 |
| GOOG Alphabet Inc. Class C | Reduce -6.2% | 1.18% | −0.23 |
| SPGI S&P Global Inc. | Reduce -25.0% | 0.36% | −0.23 |
| SYK Stryker Corp. | Sold out | 0.00% | −0.22 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.22 |
| INTC Intel Corp. | Sold out | 0.00% | −0.20 |
| MCO Moody's Corp. | Reduce -24.2% | 0.35% | −0.20 |
| QCOM Qualcomm Inc. | Reduce -12.7% | 0.48% | −0.20 |
| ABBV Abbvie Inc. | Reduce -4.8% | 0.35% | −0.18 |
| EIX Edison International | Reduce -0.8% | 0.38% | −0.18 |
| DLR Digital Realty Trust Inc. | Reduce -10.3% | 1.01% | −0.17 |
| ROST Ross Stores Inc. | Reduce -0.1% | 0.57% | −0.16 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.16 |
| HD Home Depot Inc. | Reduce -4.9% | 0.46% | −0.16 |
| KO The Coca-Cola Co. | Reduce -8.7% | 0.38% | −0.16 |
| FTV Fortive Corp. | Reduce -22.9% | 0.12% | −0.15 |
| IBM Intl Business Machines Corp. | Reduce -8.2% | 0.90% | −0.15 |
| EBAY eBay Inc. | Sold out | 0.00% | −0.15 |
Portfolio Buys Q1 2025 → Q2 2025
| AMZN Amazon.com Inc. | New | 4.61% | +4.61 |
| AAPL Apple Inc. | New | 4.05% | +4.05 |
| BAC Bank of America Corp. | New | 1.98% | +1.98 |
| META Meta Platforms Inc. Class A | Add +327.1% | 2.18% | +1.67 |
| ACN Accenture PLC Class A | New | 1.05% | +1.05 |
| ALL Allstate Corp. | New | 0.93% | +0.93 |
| LLY Eli Lilly & Co. | Add +111.9% | 2.29% | +0.83 |
| GLOB Globant SA | New | 0.79% | +0.79 |
| MRVL Marvell Technology Inc. | Add +285.0% | 1.04% | +0.76 |
| BDX Becton Dickinson and Co. | New | 0.75% | +0.75 |
| ABT Abbott Laboratories | New | 0.69% | +0.69 |
| AMAT Applied Materials Inc. | New | 0.54% | +0.54 |
| AWK American Water Works Co. Inc. | New | 0.50% | +0.50 |
| AMD Advanced Micro Devices | New | 0.43% | +0.43 |
| LIN Linde PLC | New | 0.42% | +0.42 |
| AXON Axon Enterprise Inc. | Add +290.5% | 0.43% | +0.34 |
| ADI Analog Devices Inc. | New | 0.32% | +0.32 |
| AME Ametek Inc. | New | 0.29% | +0.29 |
| MMYT Makemytrip Ltd. | New | 0.27% | +0.27 |
| AFL Aflac Inc. | New | 0.24% | +0.24 |
| GRAB Grab Holdings Ltd. Class A | New | 0.24% | +0.24 |
| RPRX Royalty Pharma PLC Class A | New | 0.23% | +0.23 |
| CB Chubb Ltd. | New | 0.22% | +0.22 |
| AXP American Express Co. | New | 0.20% | +0.20 |
| AVB Avalonbay Communities Inc. | New | 0.19% | +0.19 |
| ADSK Autodesk Inc. | New | 0.15% | +0.15 |
| BBD Banco Bradesco-ADR | New | 0.15% | +0.15 |
| AMGN Amgen Inc. | New | 0.15% | +0.15 |
| ABNB Airbnb Inc. Class A | New | 0.12% | +0.12 |
| GRMN Garmin Ltd. | New | 0.12% | +0.12 |
| BNY Bank of New York Mellon Corp. | New | 0.12% | +0.12 |
| ACGL Arch Capital Group Ltd. | New | 0.10% | +0.10 |
| AON Aon PLC Class A | New | 0.10% | +0.10 |
| VLTO Veralto Corp. | New | 0.09% | +0.09 |
| ROP Roper Technologies Inc. | New | 0.09% | +0.09 |
| AFG American Financial Group Inc. | New | 0.09% | +0.09 |
| ARE Alexandria Real Estate Equit | New | 0.09% | +0.09 |
| FTNT Fortinet Inc. | New | 0.08% | +0.08 |
| WTW Willis Towers Watson PLC | New | 0.07% | +0.07 |
| BF.B Brown-Forman Corp. Class B | Add +242.3% | 0.10% | +0.06 |
| CCEP Coca-Cola Europacific Partne | New | 0.05% | +0.05 |
| ADP Automatic Data Processing | New | 0.05% | +0.05 |
| FWONK Liberty Media Corp. Class C | New | 0.05% | +0.05 |
| WRB WR Berkley Corp. | New | 0.05% | +0.05 |
| TRV The Travelers Cos Inc. | New | 0.04% | +0.04 |
| VRSN Verisign Inc. | New | 0.03% | +0.03 |
| AUNA Auna SA Class A | New | 0.02% | +0.02 |
| BAH Booz Allen Hamilton Holdings | New | 0.01% | +0.01 |
| TRMB Trimble Inc. | Add +11.8% | 0.81% | +0.01 |
| NTRS Northern Trust Corp. | Add +14.0% | 0.06% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 249 | $735.9M | NVDA, AAPL, MSFT, GOOGL, AVGO |
| Q1 2026 | 178 | $671.2M | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q4 2025 | 176 | $771.4M | NVDA, MSFT, AAPL, META, LLY |
| Q3 2025 | 207 | $753.5M | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 209 | $677.5M | MSFT, NVDA, AMZN, AAPL, AVGO |
| Q1 2025 | 192 | $531.0M | MSFT, NVDA, V, GOOGL, TSLA |