Varma Mutual Pension Insurance Co
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Varma Mutual Pension Insurance Co reported 316 stock positions worth $12.6 billion. Its top holding was Invesco MSCI GL CLM 500 ETF (KLMT) at 13.2% of the portfolio, followed by iShares Expanded Tech-Softwa (IGV, 5.3%) and Nvidia (NVDA, 5.0%). Compared with Q2 2024, it opened 23 new positions, sold out of 51, added to 104 and reduced 166. The biggest buy was a new position in Johnson & Johnson (JNJ) and the biggest sale Microsoft (MSFT, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- Varma, H9
- CIK
- 0001698484
- Portfolio Value
- $12.6B (Q3 2024)
- SEC Filing
- 0001140361-24-046085 ↗ filed Nov 12, 2024
Holdings Value
Holdings 316 stocks · $12.6B
| KLMT Invesco MSCI GL CLM 500 ETF | 13.22% | 64,298,247 | $1.7B | No change |
| IGV iShares Expanded Tech-Softwa | 5.27% | 7,293,414 | $665.6M | Add +4.2% |
| NVDA Nvidia Corp. | 5.01% | 4,763,866 | $632.5M | Reduce -3.7% |
| AAPL Apple Inc. | 4.09% | 2,287,483 | $516.8M | Reduce -19.9% |
| MSFT Microsoft Corp. | 3.56% | 1,106,276 | $449.5M | Reduce -14.0% |
| AMZN Amazon.com Inc. | 2.52% | 1,704,616 | $317.7M | Reduce -11.9% |
| LCTU iShares U.S. Carbon Transiti | 2.37% | 4,814,000 | $298.8M | No change |
| GOOGL Alphabet Inc. Class A | 2.27% | 1,676,399 | $286.8M | Reduce -13.7% |
| VCIT Vanguard Int-Term Corporate | 1.74% | 2,700,000 | $219.7M | No change |
| INDA iShares MSCI India ETF | 1.60% | 3,675,921 | $201.5M | No change |
| EMB iShares JP Morgan Usd Emergi | 1.44% | 2,000,000 | $181.8M | Reduce -24.7% |
| META Meta Platforms Inc. Class A | 1.43% | 318,694 | $180.9M | Reduce -27.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.35% | 2,180,000 | $171.0M | No change |
| VWOB Vanguard Emerg MKTS Gov BND | 1.05% | 2,050,000 | $132.1M | Reduce -8.9% |
| LLY Eli Lilly & Co. | 0.99% | 151,368 | $125.6M | Add +5.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.99% | 656,400 | $125.1M | No change |
| TSLA Tesla Inc. | 0.97% | 491,826 | $122.9M | Add +11.6% |
| JPM JPMorgan Chase & Co. | 0.96% | 545,111 | $121.0M | Reduce -4.4% |
| AVGO Broadcom Inc. | 0.90% | 671,330 | $114.0M | Reduce -4.3% |
| XOM Exxon Mobil Corp. | 0.81% | 878,803 | $102.6M | Add +98.2% |
| EMLC Vaneck JPM Em Local Curr BND | 0.78% | 4,100,000 | $99.0M | No change |
| UNH Unitedhealth Group Inc. | 0.73% | 163,862 | $92.5M | Add +7.7% |
| V Visa Inc. Class A | 0.73% | 316,941 | $91.9M | Reduce -4.4% |
| MA Mastercard Inc. Class A | 0.67% | 168,208 | $84.0M | Reduce -4.4% |
| PG The Procter & Gamble Co. | 0.63% | 481,787 | $79.6M | Add +22.9% |
| COST Costco Wholesale Corp. | 0.61% | 88,014 | $76.9M | Add +25.4% |
| WMT Walmart Inc. | 0.60% | 922,205 | $75.6M | Add +27.1% |
| HD Home Depot Inc. | 0.55% | 175,532 | $69.1M | Add +8.7% |
| ABBV Abbvie Inc. | 0.54% | 337,067 | $68.7M | Add +3.0% |
| JNJ Johnson & Johnson | 0.54% | 428,256 | $68.5M | New |
| ADBE Adobe Inc. | 0.50% | 133,226 | $63.7M | Add +71.6% |
| KO The Coca-Cola Co. | 0.49% | 941,430 | $61.5M | Add +29.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.47% | 1,429,924 | $59.8M | Reduce -4.4% |
| NFLX Netflix Inc. | 0.47% | 78,375 | $59.3M | Add +9.1% |
| ORCL Oracle Corp. | 0.46% | 349,818 | $58.7M | Add +41.6% |
| CVX Chevron Corp. | 0.42% | 356,130 | $53.0M | Reduce -15.5% |
| PEP Pepsico Inc. | 0.42% | 318,380 | $52.9M | Add +25.8% |
| MRK Merck & Co. Inc. | 0.41% | 502,474 | $51.4M | Add +5.1% |
| CRM Salesforce Inc. | 0.39% | 170,628 | $49.7M | Add +2.5% |
| EMCR Xtrackers Emerg Mark Carb Re | 0.38% | 1,507,822 | $47.5M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 84,217 | $46.0M | Add +10.1% |
| WFC Wells Fargo & Co. | 0.36% | 707,059 | $45.9M | Reduce -4.3% |
| MCD McDonald's Corp. | 0.36% | 156,172 | $45.6M | New |
| GS Goldman Sachs Group Inc. | 0.33% | 79,300 | $41.1M | Reduce -5.7% |
| RY Royal Bank of Canada | 0.32% | 331,529 | $40.0M | New |
| NOW ServiceNow Inc. | 0.32% | 42,783 | $39.9M | Add +8.9% |
| SPGI S&P Global Inc. | 0.31% | 81,707 | $39.2M | Reduce -4.4% |
| AMGN Amgen Inc. | 0.29% | 114,859 | $36.8M | Add +7.5% |
| CAT Caterpillar Inc. | 0.29% | 97,556 | $36.7M | Add +11.0% |
| AMD Advanced Micro Devices | 0.29% | 254,117 | $36.6M | Reduce -7.9% |
| ABT Abbott Laboratories | 0.29% | 320,952 | $36.4M | Reduce -5.7% |
| ISRG Intuitive Surgical Inc. | 0.29% | 72,153 | $36.4M | Add +3.0% |
| T AT&T Inc. | 0.29% | 1,611,460 | $36.3M | Add +25.8% |
| LIN Linde PLC | 0.29% | 79,185 | $36.1M | Reduce -5.5% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 203,908 | $35.0M | Add +1.9% |
| BKNG Booking Holdings Inc. | 0.27% | 7,335 | $34.3M | Add +7.3% |
| AXP American Express Co. | 0.27% | 126,635 | $34.2M | Reduce -4.4% |
| GOOG Alphabet Inc. Class C | 0.27% | 198,000 | $34.2M | Reduce -12.2% |
| BX Blackstone Inc. | 0.26% | 197,300 | $33.1M | No change |
| MS Morgan Stanley | 0.26% | 282,612 | $32.9M | Reduce -4.3% |
| DHR Danaher Corp. | 0.26% | 133,126 | $32.7M | Add +7.3% |
| ACN Accenture PLC Class A | 0.25% | 92,686 | $32.0M | Reduce -18.3% |
| BSX Boston Scientific Corp. | 0.25% | 379,381 | $31.9M | Add +2.9% |
| TMUS T-Mobile US Inc. | 0.25% | 140,917 | $31.4M | Add +18.8% |
| COP Conocophillips | 0.25% | 284,668 | $31.2M | Reduce -15.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 150,658 | $31.1M | New |
| VZ Verizon Communications Inc. | 0.25% | 739,109 | $31.1M | Add +2.0% |
| ETN Eaton Corp. PLC | 0.24% | 92,991 | $30.8M | Add +11.8% |
| CMCSA Comcast Corp. Class A | 0.24% | 703,194 | $30.7M | Reduce -3.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 319,144 | $30.7M | Add +1.9% |
| CSCO Cisco Systems Inc. | 0.24% | 558,047 | $30.6M | Reduce -22.4% |
| PFE Pfizer Inc. | 0.24% | 1,056,663 | $29.9M | Add +1.3% |
| QCOM Qualcomm Inc. | 0.23% | 178,471 | $29.0M | Reduce -8.6% |
| PGR Progressive Corp. | 0.23% | 118,044 | $28.7M | Reduce -4.5% |
| C Citigroup Inc. | 0.22% | 441,476 | $28.3M | Reduce -4.4% |
| LOW Lowe's Cos Inc. | 0.22% | 108,099 | $28.3M | Add +8.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 249,883 | $28.2M | Add +18.2% |
| FISV Fiserv Inc. | 0.22% | 140,831 | $27.9M | Reduce -4.3% |
| INTU Intuit Inc. | 0.22% | 45,558 | $27.8M | Reduce -16.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.21% | 55,926 | $26.6M | Add +13.2% |
| CMG Chipotle Mexican Grill Inc. | 0.21% | 467,000 | $26.0M | Add +50.6% |
| SBUX Starbucks Corp. | 0.21% | 265,810 | $26.0M | Add +15.4% |
| ENB Enbridge Inc. | 0.20% | 640,361 | $25.8M | Reduce -15.5% |
| UBER Uber Technologies Inc. | 0.20% | 356,792 | $25.7M | Reduce -10.3% |
| UNP Union Pacific Corp. | 0.20% | 109,901 | $25.5M | Add +12.3% |
| PH Parker Hannifin Corp. | 0.20% | 39,537 | $25.1M | Add +6.8% |
| BMY Bristol-Myers Squibb Co. | 0.20% | 446,726 | $24.9M | Add +3.0% |
| MDLZ Mondelez International Inc. Class A | 0.20% | 362,612 | $24.8M | Add +26.3% |
| CB Chubb Ltd. | 0.20% | 87,321 | $24.7M | Reduce -4.4% |
| GILD Gilead Sciences Inc. | 0.19% | 273,215 | $24.3M | Add +7.3% |
| AMAT Applied Materials Inc. | 0.19% | 132,382 | $24.0M | Reduce -20.8% |
| SYK Stryker Corp. | 0.19% | 66,510 | $23.7M | Reduce -4.3% |
| NEE Nextera Energy Inc. | 0.19% | 298,393 | $23.6M | Reduce -5.9% |
| TD Toronto-Dominion Bank | 0.19% | 425,498 | $23.5M | New |
| MRSH Marsh & McLennan Cos | 0.18% | 106,404 | $23.2M | Reduce -4.3% |
| ADI Analog Devices Inc. | 0.18% | 102,859 | $22.9M | Reduce -7.1% |
| EOG EOG Resources Inc. | 0.18% | 184,692 | $22.5M | Reduce -14.4% |
| MDT Medtronic PLC | 0.18% | 251,651 | $22.5M | Reduce -4.5% |
| MCO Moody's Corp. | 0.18% | 49,466 | $22.5M | Reduce -4.6% |
| KKR KKR & Co. Inc. | 0.18% | 162,027 | $22.4M | Reduce -4.5% |
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -14.0% | 3.56% | −1.06 |
| AAPL Apple Inc. | Reduce -19.9% | 4.09% | −0.74 |
| GOOGL Alphabet Inc. Class A | Reduce -13.7% | 2.27% | −0.57 |
| AMZN Amazon.com Inc. | Reduce -11.9% | 2.52% | −0.49 |
| EMB iShares JP Morgan Usd Emergi | Reduce -24.7% | 1.44% | −0.45 |
| META Meta Platforms Inc. Class A | Reduce -27.3% | 1.43% | −0.35 |
| BABA Alibaba Group Holding-SP ADR | Reduce -72.7% | 0.17% | −0.29 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.25 |
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.21 |
| JD Jd.com Inc.-ADR | Reduce -79.8% | 0.06% | −0.14 |
| AMAT Applied Materials Inc. | Reduce -20.8% | 0.19% | −0.13 |
| CVX Chevron Corp. | Reduce -15.5% | 0.42% | −0.11 |
| INTC Intel Corp. | Reduce -36.0% | 0.08% | −0.10 |
| VWOB Vanguard Emerg MKTS Gov BND | Reduce -8.9% | 1.05% | −0.09 |
| TXN Texas Instruments Inc. | Reduce -36.3% | 0.16% | −0.08 |
| QCOM Qualcomm Inc. | Reduce -8.6% | 0.23% | −0.08 |
| MTSI Macom Technology Solutions H | Sold out | 0.00% | −0.08 |
| WWD Woodward Inc. | Sold out | 0.00% | −0.08 |
| BG Bunge Global SA | Sold out | 0.00% | −0.08 |
| FN Fabrinet | Sold out | 0.00% | −0.07 |
| AMD Advanced Micro Devices | Reduce -7.9% | 0.29% | −0.07 |
| CACI Caci International Inc. Class A | Sold out | 0.00% | −0.07 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.07 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.07 |
| GTES Gates Industrial Corp. UK Ltd. | Sold out | 0.00% | −0.07 |
| INTU Intuit Inc. | Reduce -16.1% | 0.22% | −0.07 |
| ELV Elevance Health Inc. | Reduce -10.1% | 0.13% | −0.07 |
| ITT Itt Inc. | Sold out | 0.00% | −0.07 |
| KBH KB Home | Sold out | 0.00% | −0.07 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.07 |
| INGR Ingredion Inc. | Sold out | 0.00% | −0.06 |
| MU Micron Technology Inc. | Reduce -8.7% | 0.14% | −0.06 |
| COP Conocophillips | Reduce -15.6% | 0.25% | −0.06 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −0.06 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −0.06 |
| DT Dynatrace Inc. | Sold out | 0.00% | −0.06 |
| GOOG Alphabet Inc. Class C | Reduce -12.2% | 0.27% | −0.06 |
| G Genpact Ltd. | Sold out | 0.00% | −0.06 |
| RMBS Rambus Inc. | Sold out | 0.00% | −0.06 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.06 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.06 |
| NXPI NXP Semiconductors NV | Reduce -40.0% | 0.06% | −0.06 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.06 |
| SNA Snap-on Inc. | Sold out | 0.00% | −0.06 |
| ZWS Zurn Elkay Water Solutions C | Sold out | 0.00% | −0.06 |
| AMERICAN EAGLE OUTFITTERS IN | Sold out | 0.00% | −0.06 |
| AGCO Agco Corp. | Sold out | 0.00% | −0.06 |
| EDWARDS LIFESCIENCES CORP | Reduce -20.6% | 0.07% | −0.06 |
| GGG Graco Inc. | Sold out | 0.00% | −0.06 |
| DE Deere & Co. | Reduce -34.1% | 0.13% | −0.06 |
Portfolio Buys Q2 2024 → Q3 2024
| JNJ Johnson & Johnson | New | 0.54% | +0.54 |
| XOM Exxon Mobil Corp. | Add +98.2% | 0.81% | +0.40 |
| IGV iShares Expanded Tech-Softwa | Add +4.2% | 5.27% | +0.38 |
| MCD McDonald's Corp. | New | 0.36% | +0.36 |
| RY Royal Bank of Canada | New | 0.32% | +0.32 |
| TSLA Tesla Inc. | Add +11.6% | 0.97% | +0.27 |
| IBM Intl Business Machines Corp. | New | 0.25% | +0.25 |
| WMT Walmart Inc. | Add +27.1% | 0.60% | +0.20 |
| TD Toronto-Dominion Bank | New | 0.19% | +0.19 |
| ORCL Oracle Corp. | Add +41.6% | 0.46% | +0.18 |
| CM Can Imperial BK of Commerce | New | 0.16% | +0.16 |
| BNS Bank of Nova Scotia | New | 0.16% | +0.16 |
| ADBE Adobe Inc. | Add +71.6% | 0.50% | +0.16 |
| BMO Bank of Montreal | New | 0.15% | +0.15 |
| CI The Cigna Group | New | 0.14% | +0.14 |
| CNI Canadian Natl Railway Co. | New | 0.14% | +0.14 |
| PBA Pembina Pipeline Corp. | New | 0.14% | +0.14 |
| SHW The Sherwin-Williams Co. | New | 0.13% | +0.13 |
| COST Costco Wholesale Corp. | Add +25.4% | 0.61% | +0.13 |
| AEM Agnico Eagle Mines Ltd. | New | 0.12% | +0.12 |
| SLF Sun Life Financial Inc. | New | 0.12% | +0.12 |
| KO The Coca-Cola Co. | Add +29.6% | 0.49% | +0.12 |
| WPM Wheaton Precious Metals Corp. | New | 0.11% | +0.11 |
| PG The Procter & Gamble Co. | Add +22.9% | 0.63% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +7.7% | 0.73% | +0.11 |
| TRI Thomson Reuters Corp. | New | 0.10% | +0.10 |
| HD Home Depot Inc. | Add +8.7% | 0.55% | +0.10 |
| ABBV Abbvie Inc. | Add +3.0% | 0.54% | +0.09 |
| T AT&T Inc. | Add +25.8% | 0.29% | +0.09 |
| KLAC KLA Corp. | New | 0.09% | +0.09 |
| PEP Pepsico Inc. | Add +25.8% | 0.42% | +0.08 |
| TMUS T-Mobile US Inc. | Add +18.8% | 0.25% | +0.08 |
| NFLX Netflix Inc. | Add +9.1% | 0.47% | +0.08 |
| GEV GE Vernova Inc. | Add +11.0% | 0.16% | +0.08 |
| RCI Rogers Communications Inc. Class B | New | 0.07% | +0.07 |
| NOW ServiceNow Inc. | Add +8.9% | 0.32% | +0.07 |
| SBUX Starbucks Corp. | Add +15.4% | 0.21% | +0.06 |
| HWM Howmet Aerospace Inc. | Add +62.2% | 0.12% | +0.06 |
| JCI Johnson Controls Internation | Add +73.8% | 0.12% | +0.06 |
| CP Canadian Pacific Kansas City | Add +63.8% | 0.16% | +0.06 |
| NSC Norfolk Southern Corp. | Add +60.1% | 0.13% | +0.06 |
| TECK Teck Resources Ltd.-CLS B | New | 0.06% | +0.06 |
| ULTA Ulta Beauty Inc. | New | 0.06% | +0.06 |
| CAT Caterpillar Inc. | Add +11.0% | 0.29% | +0.06 |
| CSX CSX Corp. | Add +66.0% | 0.14% | +0.05 |
| BKNG Booking Holdings Inc. | Add +7.3% | 0.27% | +0.05 |
| K Kellanova | Add +24.1% | 0.13% | +0.05 |
| BMY Bristol-Myers Squibb Co. | Add +3.0% | 0.20% | +0.05 |
| GILD Gilead Sciences Inc. | Add +7.3% | 0.19% | +0.05 |
| WAB Wabtec Corp. | Add +65.0% | 0.10% | +0.05 |
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 |