S-Bank Fund Management Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), S-Bank Fund Management Ltd reported 176 stock positions worth $771.4 million. Its top holding was Nvidia (NVDA) at 8.1% of the portfolio, followed by Microsoft (MSFT, 7.0%) and Apple (AAPL, 5.9%). Compared with Q3 2025, it opened 3 new positions, sold out of 34, added to 37 and reduced 128. The biggest buy was Meta Platforms Class A (META, shares +112%) and the biggest sale Amazon.com (AMZN, shares −31%).

Most Recent 13F
Q2 2026
Location
HELSINKI, H9
CIK
0002036461
Portfolio Value
$771.4M (Q4 2025)
SEC Filing
0002036461-26-000001 ↗ filed Feb 3, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2025: $531.0M Q1 2025 Q2 2025: $677.5M Q2 2025 Q3 2025: $753.5M Q3 2025 Q4 2025: $771.4M $771.4M Q4 2025 Q1 2026: $671.2M Q1 2026 Q2 2026: $735.9M Q2 2026

Holdings 176 stocks · $771.4M
NVDA Nvidia Corp. 8.11% 335,627 $62.6M Reduce -7.4%
MSFT Microsoft Corp. 6.99% 111,411 $53.9M Reduce -3.7%
AAPL Apple Inc. 5.88% 166,885 $45.4M Reduce -4.3%
META Meta Platforms Inc. Class A 4.71% 55,000 $36.3M Add +111.5%
LLY Eli Lilly & Co. 4.16% 29,855 $32.1M Add +7.5%
AMZN Amazon.com Inc. 2.97% 99,222 $22.9M Reduce -30.9%
GOOGL Alphabet Inc. Class A 2.90% 71,449 $22.4M Reduce -14.2%
AVGO Broadcom Inc. 2.67% 59,557 $20.6M Reduce -12.6%
TSLA Tesla Inc. 2.52% 43,257 $19.5M Reduce -1.1%
NFLX Netflix Inc. 2.30% 188,850 $17.7M Add +138.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.17% 303,768 $16.7M Reduce -0.0%
PLD Prologis Inc. 1.84% 111,475 $14.2M Add +43.6%
WFC Wells Fargo & Co. 1.71% 141,541 $13.2M Reduce -0.2%
TMO Thermo Fisher Scientific Inc. 1.58% 21,000 $12.2M Add +1.4%
DHR Danaher Corp. 1.55% 52,330 $12.0M Add +25.3%
CRM Salesforce Inc. 1.47% 42,913 $11.4M Add +111.7%
MRVL Marvell Technology Inc. 1.46% 132,156 $11.2M Add +18.2%
GOOG Alphabet Inc. Class C 1.39% 34,195 $10.7M Reduce -23.2%
V Visa Inc. Class A 1.29% 28,293 $9.9M Reduce -37.6%
COF Capital One Financial Corp. 1.26% 40,000 $9.7M New
LIN Linde PLC 1.22% 22,000 $9.4M Add +266.7%
MCD McDonald's Corp. 1.17% 29,644 $9.1M Add +34.8%
AMAT Applied Materials Inc. 1.13% 34,000 $8.7M Add +41.7%
ULTA Ulta Beauty Inc. 1.09% 13,900 $8.4M Add +11.3%
BDX Becton Dickinson and Co. 1.08% 43,000 $8.3M Add +14.2%
JPM JPMorgan Chase & Co. 1.05% 25,104 $8.1M Reduce -11.6%
MA Mastercard Inc. Class A 1.03% 13,912 $7.9M Reduce -1.9%
INTU Intuit Inc. 0.93% 10,774 $7.1M Reduce -6.0%
MU Micron Technology Inc. 0.93% 25,000 $7.1M Reduce -66.7%
NEE Nextera Energy Inc. 0.91% 87,000 $7.0M No change
NOW ServiceNow Inc. 0.90% 45,170 $6.9M Add +168.4%
TRMB Trimble Inc. 0.89% 87,652 $6.9M Add +6.9%
ADBE Adobe Inc. 0.88% 19,358 $6.8M Add +362.9%
ALL Allstate Corp. 0.86% 32,000 $6.7M Add +2.5%
GEV GE Vernova Inc. 0.85% 10,000 $6.5M No change
ROST Ross Stores Inc. 0.84% 36,085 $6.5M Add +19.9%
AMD Advanced Micro Devices 0.82% 29,670 $6.4M Add +47.8%
KO The Coca-Cola Co. 0.82% 90,000 $6.3M Add +150.0%
SNPS Synopsys Inc. 0.78% 12,849 $6.0M Reduce -2.4%
EQIX Equinix Inc. 0.75% 7,575 $5.8M Reduce -4.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.67% 17,419 $5.2M Reduce -14.6%
DLR Digital Realty Trust Inc. 0.66% 32,905 $5.1M Reduce -14.7%
ACN Accenture PLC Class A 0.63% 17,984 $4.8M Reduce -20.4%
ECL Ecolab Inc. 0.62% 18,306 $4.8M Add +12.3%
EOG EOG Resources Inc. 0.61% 45,000 $4.7M Add +87.5%
ROK Rockwell Automation Inc. 0.60% 11,956 $4.7M Reduce -19.7%
TMUS T-Mobile US Inc. 0.60% 22,715 $4.6M Reduce -18.6%
GLOB Globant SA 0.58% 69,000 $4.5M Add +16.9%
UNH Unitedhealth Group Inc. 0.56% 13,000 $4.3M Reduce -7.7%
FSLR First Solar Inc. 0.55% 16,236 $4.2M Reduce -7.9%
ILMN Illumina Inc. 0.54% 32,000 $4.2M Add +1973.9%
KR Kroger Co. 0.53% 65,000 $4.1M Add +8.3%
HDB HDFC Bank Ltd.-ADR 0.51% 107,850 $3.9M No change
XYL Xylem Inc. 0.49% 27,635 $3.8M Reduce -20.0%
EMR Emerson Electric Co. 0.48% 28,000 $3.7M Add +12.0%
ORCL Oracle Corp. 0.46% 18,150 $3.5M Add +10.4%
WDAY Workday Inc. Class A 0.44% 15,931 $3.4M Add +1577.0%
MRK Merck & Co. Inc. 0.42% 30,570 $3.2M Reduce -22.3%
CCI Crown Castle Inc. 0.40% 34,950 $3.1M Add +40.1%
AVB Avalonbay Communities Inc. 0.38% 16,165 $2.9M Add +160.4%
MMYT Makemytrip Ltd. 0.36% 34,000 $2.8M Add +36.0%
LULU Lululemon Athletica Inc. 0.35% 13,000 $2.7M Add +6.9%
CSCO Cisco Systems Inc. 0.34% 34,343 $2.6M Reduce -59.2%
EIX Edison International 0.34% 43,691 $2.6M Reduce -12.0%
AMT American Tower Corp. 0.33% 14,692 $2.6M Add +302.6%
AWK American Water Works Co. Inc. 0.33% 19,699 $2.6M Reduce -18.0%
QCOM Qualcomm Inc. 0.32% 14,468 $2.5M Reduce -29.3%
ADI Analog Devices Inc. 0.31% 8,722 $2.4M Reduce -2.5%
MCO Moody's Corp. 0.31% 4,619 $2.4M Reduce -2.3%
SPGI S&P Global Inc. 0.30% 4,476 $2.3M Reduce -2.3%
JNJ Johnson & Johnson 0.25% 9,408 $1.9M Reduce -73.9%
AXON Axon Enterprise Inc. 0.25% 3,425 $1.9M Reduce -1.5%
ABBV Abbvie Inc. 0.24% 8,252 $1.9M Reduce -35.0%
TXN Texas Instruments Inc. 0.21% 9,533 $1.7M Reduce -19.9%
GRAB Grab Holdings Ltd. Class A 0.21% 320,000 $1.6M No change
SCHW Schwab (charles) Corp. 0.20% 15,650 $1.6M Reduce -2.5%
RIVN Rivian Automotive Inc. Class A 0.20% 77,734 $1.5M Reduce -20.6%
SHW The Sherwin-Williams Co. 0.19% 4,579 $1.5M Reduce -74.0%
ZTS Zoetis Inc. 0.19% 11,463 $1.4M Reduce -19.8%
AFL Aflac Inc. 0.18% 12,414 $1.4M Reduce -19.5%
UDR Udr Inc. 0.17% 35,738 $1.3M New
AXP American Express Co. 0.16% 3,336 $1.2M Reduce -20.3%
RPRX Royalty Pharma PLC Class A 0.16% 30,972 $1.2M Reduce -27.9%
MSI Motorola Solutions Inc. 0.15% 3,086 $1.2M Reduce -20.4%
BXP BXP Inc. 0.15% 17,082 $1.2M Reduce -21.9%
KLAC KLA Corp. 0.15% 931 $1.1M Reduce -29.5%
BBD Banco Bradesco-ADR 0.14% 330,000 $1.1M No change
ABT Abbott Laboratories 0.14% 8,565 $1.1M Reduce -75.2%
MRSH Marsh & McLennan Cos 0.14% 5,766 $1.1M Reduce -19.9%
CB Chubb Ltd. 0.14% 3,353 $1.0M Reduce -34.4%
ELS Equity Lifestyle Properties 0.13% 17,101 $1.0M New
DOC Healthpeak Properties Inc. 0.13% 62,996 $1.0M Reduce -20.3%
ARRY Array Technologies Inc. 0.13% 108,715 $1.0M No change
ISRG Intuitive Surgical Inc. 0.13% 1,752 $992K Reduce -20.6%
PGR Progressive Corp. 0.12% 4,204 $957K Reduce -1.4%
CME Cme Group Inc. 0.12% 3,301 $901K Reduce -20.0%
NDAQ Nasdaq Inc. 0.11% 9,100 $884K Reduce -2.4%
ARE Alexandria Real Estate Equit 0.11% 17,673 $865K Add +124.8%
ICE Intercontinental Exchange Inc. 0.11% 5,270 $854K Reduce -2.2%
MTD Mettler-Toledo International 0.11% 600 $837K Reduce -35.3%
BMY Bristol-Myers Squibb Co. 0.11% 15,465 $834K Reduce -34.9%
ADSK Autodesk Inc. 0.10% 2,676 $792K Reduce -20.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.10% 6,783 $787K Reduce -20.7%
MELI MercadoLibre Inc. 0.10% 384 $773K Reduce -2.5%
AMGN Amgen Inc. 0.10% 2,356 $771K Reduce -34.5%
GRMN Garmin Ltd. 0.10% 3,647 $740K Reduce -3.1%
ABNB Airbnb Inc. Class A 0.09% 4,920 $668K Reduce -20.6%
VRTX Vertex Pharmaceuticals Inc. 0.08% 1,428 $647K Reduce -35.2%
WST West Pharmaceutical Services 0.08% 2,221 $611K Reduce -3.3%
APO Apollo Global Management Inc. 0.08% 4,046 $586K Reduce -3.8%
ACGL Arch Capital Group Ltd. 0.08% 6,064 $582K Reduce -20.2%
DAR Darling Ingredients Inc. 0.07% 15,000 $540K No change
FFIV F5 Inc. 0.07% 2,082 $531K Reduce -20.3%
IDXX Idexx Laboratories Inc. 0.07% 767 $519K Reduce -35.1%
ALNY Alnylam Pharmaceuticals Inc. 0.07% 1,281 $509K Reduce -19.6%
IEX Idex Corp. 0.06% 2,794 $497K Reduce -20.4%
CTAS Cintas Corp. 0.06% 2,625 $494K Reduce -19.4%
VLTO Veralto Corp. 0.06% 4,883 $487K Reduce -20.0%
MKL Markel Group Inc. 0.06% 223 $479K Reduce -20.1%
WAT Waters Corp. 0.06% 1,255 $477K Reduce -35.6%
REGN Regeneron Pharmaceuticals 0.06% 616 $475K Reduce -46.3%
KKR KKR & Co. Inc. 0.06% 3,670 $468K Reduce -3.4%
BRO Brown & Brown Inc. 0.06% 5,812 $463K Reduce -1.8%
WTW Willis Towers Watson PLC 0.05% 1,286 $423K Reduce -20.1%
AON Aon PLC Class A 0.05% 1,192 $421K Reduce -34.0%
CCEP Coca-Cola Europacific Partne 0.05% 4,485 $407K Add +13.1%
BLK BlackRock Inc. 0.05% 379 $406K Reduce -20.4%
PYPL PayPal Holdings Inc. 0.05% 6,947 $406K Reduce -3.1%
AFG American Financial Group Inc. 0.05% 2,959 $404K Reduce -34.9%
CINF Cincinnati Financial Corp. 0.05% 2,360 $385K Reduce -20.5%
ROP Roper Technologies Inc. 0.05% 863 $384K Reduce -19.6%
HIG Hartford Insurance Group Inc. 0.05% 2,688 $370K Reduce -34.8%
VRSK Verisk Analytics Inc. 0.05% 1,638 $366K Reduce -19.6%
MET Metlife Inc. 0.05% 4,516 $356K Reduce -2.3%
PAYX Paychex Inc. 0.05% 3,122 $350K Reduce -19.5%
SPG Simon Property Group Inc. 0.05% 1,885 $349K Reduce -20.6%
CPRT Copart Inc. 0.04% 8,851 $347K Reduce -3.1%
ROL Rollins Inc. 0.04% 5,738 $344K Reduce -34.1%
MPWR Monolithic Power Systems Inc. 0.04% 376 $341K Reduce -4.6%
CBOE Cboe Global Markets Inc. 0.04% 1,294 $325K Reduce -19.6%
FTNT Fortinet Inc. 0.04% 3,907 $310K Reduce -19.9%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.04% 4,386 $308K Reduce -2.0%
CMG Chipotle Mexican Grill Inc. 0.04% 8,013 $296K Reduce -20.4%
GGG Graco Inc. 0.04% 3,562 $292K Reduce -19.7%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.04% 2,683 $275K Reduce -20.8%
FWONK Liberty Media Corp. Class C 0.03% 2,611 $257K Reduce -20.3%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.03% 986 $255K Reduce -1.5%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.03% 4,005 $252K Reduce -2.4%
EFX Equifax Inc. 0.03% 1,127 $245K Reduce -3.0%
A Agilent Technologies Inc. 0.03% 1,765 $240K Reduce -35.1%
IQV Iqvia Holdings Inc. 0.03% 1,047 $236K Reduce -21.0%
ADP Automatic Data Processing 0.03% 910 $234K Reduce -19.8%
VEEV Veeva Systems Inc. Class A 0.03% 1,039 $232K Reduce -5.4%
VRSN Verisign Inc. 0.02% 632 $154K Reduce -14.9%
PANW Palo Alto Networks Inc. 0.02% 807 $149K Reduce -0.4%
NBIX Neurocrine Biosciences Inc. 0.02% 918 $130K Reduce -3.7%
TTWO Take-Two Interactive Softwre 0.02% 471 $121K Reduce -2.1%
TYL Tyler Technologies Inc. 0.02% 263 $119K Reduce -19.8%
AMP Ameriprise Financial Inc. 0.01% 226 $111K Reduce -3.0%
SNOW Snowflake Inc. 0.01% 498 $109K Reduce -20.8%
GILD Gilead Sciences Inc. 0.01% 839 $103K Reduce -35.1%
AUNA Auna SA Class A 0.01% 20,401 $100K No change
FISV Fiserv Inc. 0.01% 1,405 $94K Reduce -1.4%
OKTA Okta Inc. 0.01% 912 $79K Reduce -4.3%
XYZ Block Inc. 0.01% 1,059 $69K Reduce -20.4%
PINS Pinterest Inc. Class A 0.01% 2,416 $63K Reduce -2.6%
ZM Zoom Communications Inc. 0.01% 713 $62K Reduce -2.7%
TW Tradeweb Markets Inc. Class A 0.01% 563 $61K Reduce -1.9%
VZ Verizon Communications Inc. 0.01% 1,331 $54K Reduce -35.5%
MDB Mongodb Inc. 0.01% 128 $54K Reduce -21.5%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.01% 1,287 $49K Reduce -3.5%
TRU Transunion 0.00% 412 $35K Add +3.0%
HUBS HubSpot Inc. 0.00% 86 $35K Reduce -7.5%
PAYC Paycom Software Inc. 0.00% 202 $32K Add +30.3%
COIN Coinbase Global Inc. Class A 0.00% 141 $32K Reduce -20.3%
SNAP Snap Inc. Class A 0.00% 3,933 $32K Reduce -35.8%

Portfolio Sells Q3 2025 → Q4 2025
AMZN Amazon.com Inc. Reduce -30.9% 2.97% −1.21
MSFT Microsoft Corp. Reduce -3.7% 6.99% −0.96
NVDA Nvidia Corp. Reduce -7.4% 8.11% −0.86
V Visa Inc. Class A Reduce -37.6% 1.29% −0.77
MU Micron Technology Inc. Reduce -66.7% 0.93% −0.74
DIS The Walt Disney Co. Sold out 0.00% −0.72
JNJ Johnson & Johnson Reduce -73.9% 0.25% −0.63
SHW The Sherwin-Williams Co. Reduce -74.0% 0.19% −0.62
XOM Exxon Mobil Corp. Sold out 0.00% −0.48
ABT Abbott Laboratories Reduce -75.2% 0.14% −0.48
PG The Procter & Gamble Co. Sold out 0.00% −0.47
HD Home Depot Inc. Sold out 0.00% −0.45
CSCO Cisco Systems Inc. Reduce -59.2% 0.34% −0.42
AVGO Broadcom Inc. Reduce -12.6% 2.67% −0.31
TMUS T-Mobile US Inc. Reduce -18.6% 0.60% −0.29
AME Ametek Inc. Sold out 0.00% −0.26
DLR Digital Realty Trust Inc. Reduce -14.7% 0.66% −0.23
ESS Essex Property Trust Inc. Sold out 0.00% −0.19
XYL Xylem Inc. Reduce -20.0% 0.49% −0.19
UNP Union Pacific Corp. Sold out 0.00% −0.16
ABBV Abbvie Inc. Reduce -35.0% 0.24% −0.15
JPM JPMorgan Chase & Co. Reduce -11.6% 1.05% −0.14
FAST Fastenal Co. Sold out 0.00% −0.14
QCOM Qualcomm Inc. Reduce -29.3% 0.32% −0.13
BSX Boston Scientific Corp. Sold out 0.00% −0.13
PFE Pfizer Inc. Sold out 0.00% −0.12
SBUX Starbucks Corp. Sold out 0.00% −0.12
UBER Uber Technologies Inc. Sold out 0.00% −0.12
ACN Accenture PLC Class A Reduce -20.4% 0.63% −0.11
BX Blackstone Inc. Sold out 0.00% −0.11
INTU Intuit Inc. Reduce -6.0% 0.93% −0.11
AWK American Water Works Co. Inc. Reduce -18.0% 0.33% −0.11
CHD Church & Dwight Co. Inc. Sold out 0.00% −0.10
FTV Fortive Corp. Sold out 0.00% −0.10
IBM Intl Business Machines Corp. Reduce -14.6% 0.67% −0.09
BF.B Brown-Forman Corp. Class B Sold out 0.00% −0.09
ZTS Zoetis Inc. Reduce -19.8% 0.19% −0.09
UNH Unitedhealth Group Inc. Reduce -7.7% 0.56% −0.09
MNST Monster Beverage Corp. Sold out 0.00% −0.09
ROK Rockwell Automation Inc. Reduce -19.7% 0.60% −0.09
YUM Yum! Brands Inc. Sold out 0.00% −0.09
MSI Motorola Solutions Inc. Reduce -20.4% 0.15% −0.08
SNPS Synopsys Inc. Reduce -2.4% 0.78% −0.08
AXON Axon Enterprise Inc. Reduce -1.5% 0.25% −0.08
TXN Texas Instruments Inc. Reduce -19.9% 0.21% −0.08
EQIX Equinix Inc. Reduce -4.2% 0.75% −0.07
DOC Healthpeak Properties Inc. Reduce -20.3% 0.13% −0.07
BXP BXP Inc. Reduce -21.9% 0.15% −0.07
NTRS Northern Trust Corp. Sold out 0.00% −0.06
TSLA Tesla Inc. Reduce -1.1% 2.52% −0.06

Portfolio Buys Q3 2025 → Q4 2025
META Meta Platforms Inc. Class A Add +111.5% 4.71% +2.17
LLY Eli Lilly & Co. Add +7.5% 4.16% +1.35
COF Capital One Financial Corp. New 1.26% +1.26
NFLX Netflix Inc. Add +138.8% 2.30% +1.04
LIN Linde PLC Add +266.7% 1.22% +0.84
CRM Salesforce Inc. Add +111.7% 1.47% +0.84
ADBE Adobe Inc. Add +362.9% 0.88% +0.68
PLD Prologis Inc. Add +43.6% 1.84% +0.67
ILMN Illumina Inc. Add +1973.9% 0.54% +0.52
KO The Coca-Cola Co. Add +150.0% 0.82% +0.50
NOW ServiceNow Inc. Add +168.4% 0.90% +0.49
AMAT Applied Materials Inc. Add +41.7% 1.13% +0.48
DHR Danaher Corp. Add +25.3% 1.55% +0.45
WDAY Workday Inc. Class A Add +1577.0% 0.44% +0.41
AMD Advanced Micro Devices Add +47.8% 0.82% +0.39
MCD McDonald's Corp. Add +34.8% 1.17% +0.29
EOG EOG Resources Inc. Add +87.5% 0.61% +0.26
TMO Thermo Fisher Scientific Inc. Add +1.4% 1.58% +0.24
AMT American Tower Corp. Add +302.6% 0.33% +0.24
ROST Ross Stores Inc. Add +19.9% 0.84% +0.23
AVB Avalonbay Communities Inc. Add +160.4% 0.38% +0.22
MRVL Marvell Technology Inc. Add +18.2% 1.46% +0.21
ULTA Ulta Beauty Inc. Add +11.3% 1.09% +0.18
UDR Udr Inc. New 0.17% +0.17
BDX Becton Dickinson and Co. Add +14.2% 1.08% +0.15
GLOB Globant SA Add +16.9% 0.58% +0.14
ELS Equity Lifestyle Properties New 0.13% +0.13
CCI Crown Castle Inc. Add +40.1% 0.40% +0.08
LULU Lululemon Athletica Inc. Add +6.9% 0.35% +0.06
MMYT Makemytrip Ltd. Add +36.0% 0.36% +0.05
EMR Emerson Electric Co. Add +12.0% 0.48% +0.05
ECL Ecolab Inc. Add +12.3% 0.62% +0.03
ARE Alexandria Real Estate Equit Add +124.8% 0.11% +0.03
CCEP Coca-Cola Europacific Partne Add +13.1% 0.05% +0.01
TRMB Trimble Inc. Add +6.9% 0.89% +0.00
TRU Transunion Add +3.0% 0.00% +0.00
PAYC Paycom Software Inc. Add +30.3% 0.00% −0.00
KR Kroger Co. Add +8.3% 0.53% −0.01
ALL Allstate Corp. Add +2.5% 0.86% −0.03
ORCL Oracle Corp. Add +10.4% 0.46% −0.16

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 249$735.9MNVDA, AAPL, MSFT, GOOGL, AVGO
Q1 2026 178$671.2MNVDA, MSFT, AAPL, GOOGL, AMZN
Q4 2025 176$771.4MNVDA, MSFT, AAPL, META, LLY
Q3 2025 207$753.5MNVDA, MSFT, AAPL, AMZN, AVGO
Q2 2025 209$677.5MMSFT, NVDA, AMZN, AAPL, AVGO
Q1 2025 192$531.0MMSFT, NVDA, V, GOOGL, TSLA