Varma Mutual Pension Insurance Co
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Varma Mutual Pension Insurance Co reported 313 stock positions worth $18.9 billion. Its top holding was Invesco MSCI N Amr Climt ETF (KLMN) at 13.4% of the portfolio, followed by Invesco MSCI GL CLM 500 ETF (KLMT, 8.2%) and iShares Expanded Tech-Softwa (IGV, 7.3%). Compared with Q1 2026, it opened 39 new positions, sold out of 45, added to 122 and reduced 129. The biggest buy was Invesco MSCI N Amr Climt ETF (KLMN, shares +47%) and the biggest sale SS Energy Select Sector (XLE, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- Varma, H9
- CIK
- 0001698484
- Portfolio Value
- $18.9B (Q2 2026)
- SEC Filing
- 0001140361-26-032435 ↗ filed Aug 12, 2026
Holdings Value
Holdings 313 stocks · $18.9B
| KLMN Invesco MSCI N Amr Climt ETF | 13.38% | 82,227,516 | $2.5B | Add +46.7% |
| KLMT Invesco MSCI GL CLM 500 ETF | 8.22% | 44,931,497 | $1.6B | No change |
| IGV iShares Expanded Tech-Softwa | 7.32% | 15,248,262 | $1.4B | Reduce -25.1% |
| EMCS Xtracke MSCI Emer Ms ETF-Usd | 5.13% | 20,621,177 | $967.3M | No change |
| NVDA Nvidia Corp. | 4.16% | 3,920,566 | $784.5M | Add +0.3% |
| AAPL Apple Inc. | 3.81% | 2,484,883 | $719.0M | Reduce -1.3% |
| RSP Invesco S&P 500 Equal Weight | 3.01% | 2,673,800 | $568.9M | New |
| GOOGL Alphabet Inc. Class A | 2.97% | 1,570,599 | $561.3M | Reduce -2.0% |
| MSFT Microsoft Corp. | 2.26% | 1,141,076 | $425.6M | Reduce -2.3% |
| AMZN Amazon.com Inc. | 2.17% | 1,721,811 | $410.4M | Add +3.9% |
| LCTU iShares U.S. Carbon Transiti | 2.04% | 4,814,000 | $385.9M | No change |
| INVESCO QQQ TR | 1.48% | 380,000 | $279.8M | New |
| AVGO Broadcom Inc. | 1.28% | 641,830 | $242.5M | Add +3.2% |
| META Meta Platforms Inc. Class A | 1.12% | 374,094 | $210.7M | Reduce -1.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.94% | 372,800 | $178.0M | Add +2.3% |
| TSLA Tesla Inc. | 0.92% | 413,723 | $174.0M | Reduce -0.1% |
| MU Micron Technology Inc. | 0.84% | 138,071 | $159.4M | Reduce -18.8% |
| JPM JPMorgan Chase & Co. | 0.80% | 461,411 | $151.0M | Add +2.4% |
| LLY Eli Lilly & Co. | 0.74% | 115,868 | $139.0M | Reduce -1.7% |
| AMD Advanced Micro Devices | 0.71% | 230,717 | $134.0M | Reduce -5.0% |
| V Visa Inc. Class A | 0.55% | 300,341 | $103.0M | Add +3.1% |
| JNJ Johnson & Johnson | 0.52% | 386,656 | $98.2M | Add +1.4% |
| AMAT Applied Materials Inc. | 0.52% | 134,482 | $97.2M | Reduce -14.1% |
| XOM Exxon Mobil Corp. | 0.48% | 667,203 | $91.2M | Add +0.7% |
| INTC Intel Corp. | 0.48% | 652,423 | $91.1M | Reduce -5.9% |
| INDA iShares MSCI India ETF | 0.47% | 1,804,110 | $89.1M | Add +196.8% |
| LRCX Lam Research Corp. | 0.46% | 201,030 | $87.1M | Reduce -16.8% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.45% | 1,250,000 | $84.0M | No change |
| EMLC Vaneck JPM Em Local Curr BND | 0.42% | 3,100,000 | $79.2M | No change |
| CAT Caterpillar Inc. | 0.42% | 74,116 | $78.9M | Reduce -3.0% |
| WMT Walmart Inc. | 0.41% | 680,366 | $77.1M | Add +2.3% |
| MA Mastercard Inc. Class A | 0.41% | 150,008 | $77.0M | Add +1.2% |
| CSCO Cisco Systems Inc. | 0.39% | 626,147 | $73.5M | Add +2.3% |
| VCEB Vanguard ESG US Corp. Bond | 0.37% | 1,100,000 | $69.0M | No change |
| BAC Bank of America Corp. | 0.37% | 1,209,724 | $68.9M | Add +1.1% |
| ABBV Abbvie Inc. | 0.36% | 270,367 | $68.0M | Add +1.4% |
| GOOG Alphabet Inc. Class C | 0.36% | 190,914 | $67.5M | No change |
| KLAC KLA Corp. | 0.36% | 222,640 | $67.2M | Reduce -28.1% |
| XLE SS Energy Select Sector | 0.34% | 1,196,643 | $63.6M | Reduce -91.5% |
| HD Home Depot Inc. | 0.32% | 173,295 | $61.1M | Add +15.5% |
| UNH Unitedhealth Group Inc. | 0.32% | 146,662 | $61.0M | Add +4.7% |
| COST Costco Wholesale Corp. | 0.32% | 63,957 | $59.8M | No change |
| GE General Electric filed as GE AEROSPACE | 0.30% | 153,445 | $57.3M | Reduce -11.7% |
| KSTR Kraneshares China Technology | 0.30% | 1,740,631 | $56.3M | Add +67.3% |
| GS Goldman Sachs Group Inc. | 0.30% | 55,400 | $56.0M | Add +0.4% |
| PG The Procter & Gamble Co. | 0.29% | 368,855 | $54.1M | Reduce -2.6% |
| KO The Coca-Cola Co. | 0.29% | 662,576 | $53.8M | Reduce -6.3% |
| ECH iShares MSCI Chile ETF | 0.27% | 1,294,477 | $51.4M | No change |
| MRK Merck & Co. Inc. | 0.27% | 399,574 | $51.3M | Reduce -1.8% |
| CVX Chevron Corp. | 0.27% | 309,236 | $51.3M | Add +0.3% |
| RY Royal Bank of Canada | 0.27% | 245,329 | $50.8M | Add +2.0% |
| GEV GE Vernova Inc. | 0.27% | 43,043 | $50.6M | Reduce -5.3% |
| MS Morgan Stanley | 0.25% | 223,312 | $46.7M | Add +0.9% |
| NFLX Netflix Inc. | 0.24% | 641,950 | $45.8M | Add +3.5% |
| C Citigroup Inc. | 0.24% | 325,576 | $45.6M | Reduce -4.8% |
| TXN Texas Instruments Inc. | 0.24% | 150,741 | $44.9M | Add +16.9% |
| WFC Wells Fargo & Co. | 0.24% | 541,059 | $44.7M | Add +0.4% |
| PM Philip Morris International | 0.23% | 242,800 | $43.9M | New |
| RTX CORPORATION | 0.22% | 214,800 | $40.8M | New |
| PANW Palo Alto Networks Inc. | 0.21% | 118,624 | $40.5M | Add +3.0% |
| MRVL Marvell Technology Inc. | 0.21% | 133,058 | $39.6M | Reduce -0.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 137,458 | $38.7M | Add +3.8% |
| AXP American Express Co. | 0.20% | 112,035 | $37.9M | Add +1.0% |
| PLTR Palantir Technologies Inc. Class A | 0.20% | 322,300 | $37.6M | Reduce -11.9% |
| LIN Linde PLC | 0.20% | 72,285 | $37.5M | Reduce -9.2% |
| TD Toronto-Dominion Bank | 0.19% | 299,998 | $36.5M | Reduce -0.6% |
| GLW Corning Inc. | 0.19% | 141,132 | $36.0M | Reduce -13.1% |
| WDC Western Digital Corp. | 0.19% | 55,300 | $35.3M | Reduce -27.3% |
| ORCL Oracle Corp. | 0.19% | 239,618 | $35.1M | Add +6.7% |
| APH Amphenol Corp. Class A | 0.19% | 198,389 | $35.0M | Reduce -9.2% |
| EWY iShares MSCI South Korea ETF | 0.18% | 169,474 | $34.2M | Reduce -31.7% |
| AMGN Amgen Inc. | 0.18% | 93,659 | $33.9M | Reduce -1.6% |
| EMB iShares JP Morgan Usd Emergi | 0.18% | 350,000 | $33.8M | No change |
| ADI Analog Devices Inc. | 0.17% | 81,359 | $32.3M | Add +0.3% |
| STX Seagate Technology Holdings | 0.17% | 33,300 | $32.1M | Reduce -24.5% |
| ETN Eaton Corp. PLC | 0.17% | 75,075 | $32.0M | Reduce -5.5% |
| QCOM Qualcomm Inc. | 0.17% | 171,971 | $31.8M | Reduce -4.9% |
| ANET Arista Networks Inc. | 0.17% | 187,050 | $31.8M | Reduce -5.8% |
| PEP Pepsico Inc. | 0.17% | 232,457 | $31.5M | Reduce -5.7% |
| TMO Thermo Fisher Scientific Inc. | 0.17% | 62,217 | $31.2M | Reduce -1.6% |
| VZ Verizon Communications Inc. | 0.16% | 732,023 | $31.0M | Reduce -1.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.16% | 40,215 | $30.7M | Add +1.5% |
| WELL Welltower Inc. | 0.16% | 134,476 | $30.5M | Reduce -2.3% |
| SCHW Schwab (charles) Corp. | 0.16% | 327,481 | $30.2M | Add +5.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.16% | 308,894 | $29.7M | Add +6.3% |
| EBND State Street SPDR Bloomberg | 0.16% | 1,400,000 | $29.3M | No change |
| DELL Dell Technologies -C | 0.15% | 67,500 | $29.1M | Add +42.1% |
| DE Deere & Co. | 0.15% | 45,367 | $28.8M | Reduce -2.6% |
| ABT Abbott Laboratories | 0.15% | 315,052 | $28.6M | Add +8.0% |
| BLK BlackRock Inc. | 0.15% | 29,312 | $28.2M | Add +5.0% |
| UNP Union Pacific Corp. | 0.15% | 102,049 | $27.8M | Reduce -2.7% |
| SPGI S&P Global Inc. | 0.14% | 67,007 | $27.3M | Add +3.9% |
| MCD McDonald's Corp. | 0.14% | 100,566 | $27.2M | Reduce -6.3% |
| NEE Nextera Energy Inc. | 0.14% | 307,793 | $27.0M | Reduce -5.5% |
| GILD Gilead Sciences Inc. | 0.14% | 208,515 | $26.3M | Add +1.3% |
| COP Conocophillips | 0.14% | 250,052 | $26.0M | Reduce -9.3% |
| PH Parker Hannifin Corp. | 0.14% | 26,575 | $26.0M | Reduce -18.2% |
| T AT&T Inc. | 0.14% | 1,230,860 | $25.5M | Reduce -1.4% |
| PFE Pfizer Inc. | 0.13% | 1,055,663 | $25.4M | Add +3.3% |
| FCX Freeport-McMoran Inc. | 0.13% | 404,167 | $25.4M | Add +12.5% |
Portfolio Sells Q1 2026 → Q2 2026
| XLE SS Energy Select Sector | Reduce -91.5% | 0.34% | −4.72 |
| IGV iShares Expanded Tech-Softwa | Reduce -25.1% | 7.32% | −2.23 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −1.48 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −1.35 |
| VCIT Vanguard Int-Term Corporate | Sold out | 0.00% | −1.31 |
| VCLT Vanguard Long-Term Corp. Bond | Sold out | 0.00% | −0.70 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.41 |
| ASHR Xtrackers Harvest Csi 300 CH | Sold out | 0.00% | −0.33 |
| MSFT Microsoft Corp. | Reduce -2.3% | 2.26% | −0.28 |
| META Meta Platforms Inc. Class A | Reduce -1.8% | 1.12% | −0.16 |
| PLTR Palantir Technologies Inc. Class A | Reduce -11.9% | 0.20% | −0.11 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.11 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.10 |
| TRV The Travelers Cos Inc. | Sold out | 0.00% | −0.09 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.08 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.08 |
| COR Cencora Inc. | Sold out | 0.00% | −0.08 |
| RSG Republic Services Inc. | Sold out | 0.00% | −0.08 |
| TRP TC Energy Corp. | Sold out | 0.00% | −0.08 |
| T AT&T Inc. | Reduce -1.4% | 0.14% | −0.08 |
| COP Conocophillips | Reduce -9.3% | 0.14% | −0.08 |
| TGT Target Corp. | Sold out | 0.00% | −0.07 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.07 |
| CRH CRH PLC | Sold out | 0.00% | −0.07 |
| FTNT Fortinet Inc. | Sold out | 0.00% | −0.07 |
| FISV Fiserv Inc. | Reduce -93.9% | 0.00% | −0.07 |
| PEP Pepsico Inc. | Reduce -5.7% | 0.17% | −0.06 |
| DOC Healthpeak Properties Inc. | Sold out | 0.00% | −0.06 |
| AIG American International Group | Reduce -89.2% | 0.01% | −0.06 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.06 |
| OMC Omnicom Group | Sold out | 0.00% | −0.06 |
| AEM Agnico Eagle Mines Ltd. | Reduce -3.3% | 0.11% | −0.06 |
| MET Metlife Inc. | Reduce -90.0% | 0.01% | −0.06 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.05 |
| CTSH Cognizant Tech Solutions-A | Sold out | 0.00% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -1.4% | 0.16% | −0.05 |
| RCI Rogers Communications Inc. Class B | Sold out | 0.00% | −0.05 |
| MCD McDonald's Corp. | Reduce -6.3% | 0.14% | −0.05 |
| PTC PTC Inc. | Sold out | 0.00% | −0.05 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −0.05 |
| STN Stantec Inc. | Sold out | 0.00% | −0.05 |
| GEHC GE Healthcare Technology | Sold out | 0.00% | −0.05 |
| HEI Heico Corp. | Sold out | 0.00% | −0.05 |
| ACM Aecom | Sold out | 0.00% | −0.04 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −0.04 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −0.04 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −0.04 |
| TJX TJX Companies Inc. | Reduce -13.8% | 0.12% | −0.04 |
| CCEP Coca-Cola Europacific Partne | Sold out | 0.00% | −0.04 |
| COIN Coinbase Global Inc. Class A | Reduce -89.4% | 0.00% | −0.04 |
Portfolio Buys Q1 2026 → Q2 2026
| KLMN Invesco MSCI N Amr Climt ETF | Add +46.7% | 13.38% | +4.61 |
| RSP Invesco S&P 500 Equal Weight | New | 3.01% | +3.01 |
| INVESCO QQQ TR | New | 1.48% | +1.48 |
| INDA iShares MSCI India ETF | Add +196.8% | 0.47% | +0.31 |
| PM Philip Morris International | New | 0.23% | +0.23 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.3% | 0.94% | +0.22 |
| RTX CORPORATION | New | 0.22% | +0.22 |
| KSTR Kraneshares China Technology | Add +67.3% | 0.30% | +0.19 |
| NVDA Nvidia Corp. | Add +0.3% | 4.16% | +0.16 |
| AVGO Broadcom Inc. | Add +3.2% | 1.28% | +0.16 |
| AMZN Amazon.com Inc. | Add +3.9% | 2.17% | +0.15 |
| BA The Boeing Co. | New | 0.13% | +0.13 |
| MO Altria Group Inc. | New | 0.11% | +0.11 |
| CSCO Cisco Systems Inc. | Add +2.3% | 0.39% | +0.11 |
| DELL Dell Technologies -C | Add +42.1% | 0.15% | +0.11 |
| QUANTA SVCS INC | New | 0.11% | +0.11 |
| PANW Palo Alto Networks Inc. | Add +3.0% | 0.21% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +4.7% | 0.32% | +0.10 |
| LMT Lockheed Martin Corp. | New | 0.10% | +0.10 |
| TER Teradyne Inc. | New | 0.10% | +0.10 |
| FTNT Fortinet Inc. | New | 0.09% | +0.09 |
| TXN Texas Instruments Inc. | Add +16.9% | 0.24% | +0.09 |
| TRAVELERS COMPANIES INC | New | 0.09% | +0.09 |
| COHR Coherent Corp. | New | 0.08% | +0.08 |
| FIX Comfort Systems USA Inc. | New | 0.08% | +0.08 |
| GD General Dynamics Corp. | New | 0.08% | +0.08 |
| FLEX Flex Ltd. | New | 0.08% | +0.08 |
| LITE Lumentum Holdings Inc. | New | 0.08% | +0.08 |
| LHX L3HARRIS Technologies Inc. | New | 0.08% | +0.08 |
| ALAB Astera Labs Inc. | New | 0.07% | +0.07 |
| HON Honeywell International Inc. | New | 0.07% | +0.07 |
| HONA Honeywell Aerospace Inc. | New | 0.07% | +0.07 |
| BE Bloom Energy Corp. Class A | New | 0.07% | +0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.5% | 0.16% | +0.07 |
| HPE Hewlett Packard Enterprise | New | 0.07% | +0.07 |
| CENCORA INC | New | 0.07% | +0.07 |
| NOC Northrop Grumman Corp. | New | 0.07% | +0.07 |
| MPWR Monolithic Power Systems Inc. | New | 0.07% | +0.07 |
| ROST Ross Stores Inc. | New | 0.07% | +0.07 |
| MNST Monster Beverage Corp. | New | 0.07% | +0.07 |
| CIEN Ciena Corp. | New | 0.07% | +0.07 |
| FTI Technipfmc PLC | New | 0.07% | +0.07 |
| TARGET CORP | New | 0.06% | +0.06 |
| EDWARDS LIFESCIENCES CORP | New | 0.06% | +0.06 |
| CHD Church & Dwight Co. Inc. | New | 0.05% | +0.05 |
| RKLB Rocket Lab Corp. | New | 0.05% | +0.05 |
| KVUE Kenvue Inc. | New | 0.05% | +0.05 |
| QSR Restaurant Brands Intern | New | 0.05% | +0.05 |
| RY Royal Bank of Canada | Add +2.0% | 0.27% | +0.04 |
| CVS CVS Health Corp. | Add +12.8% | 0.12% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 313 | $18.9B | KLMN, KLMT, IGV, EMCS, NVDA |
| Q1 2026Amended | 319 | $17.1B | IGV, KLMN, KLMT, XLE, EMCS |
| Q4 2025 | 308 | $16.5B | KLMN, KLMT, VOO, NVDA, AAPL |
| Q3 2025 | 312 | $15.6B | KLMN, KLMT, EMCS, NVDA, AAPL |
| Q2 2025 | 309 | $13.6B | KLMN, KLMT, EMCS, NVDA, MSFT |
| Q1 2025 | 318 | $11.6B | KLMN, KLMT, AAPL, MSFT, NVDA |
| Q4 2024 | 320 | $13.2B | KLMN, KLMT, AAPL, NVDA, EMCS |
| Q3 2024 | 316 | $12.6B | KLMT, IGV, NVDA, AAPL, MSFT |
| Q2 2024 | 344 | $12.4B | KLMT, NVDA, IGV, AAPL, MSFT |
| Q1 2024 | 354 | $11.5B | MSFT, EMCR, AAPL, NVDA, AMZN |