Varma Mutual Pension Insurance Co

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Varma Mutual Pension Insurance Co reported 318 stock positions worth $11.6 billion. Its top holding was Invesco MSCI N Amr Climt ETF (KLMN) at 16.9% of the portfolio, followed by Invesco MSCI GL CLM 500 ETF (KLMT, 10.0%) and Apple (AAPL, 4.3%). Compared with Q4 2024, it opened 5 new positions, sold out of 8, added to 27 and reduced 275. The biggest buy was iShares Expanded Tech-Softwa (IGV, shares +144%) and the biggest sale Invesco MSCI GL CLM 500 ETF (KLMT, shares −30%).

Most Recent 13F
Q2 2026
Location
Varma, H9
CIK
0001698484
Portfolio Value
$11.6B (Q1 2025)
SEC Filing
0001140361-25-018585 ↗ filed May 13, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $11.5B Q1 2024 Q2 2024: $12.4B Q2 2024 Q3 2024: $12.6B Q3 2024 Q4 2024: $13.2B Q4 2024 Q1 2025: $11.6B $11.6B Q1 2025 Q2 2025: $13.6B Q2 2025 Q3 2025: $15.6B Q3 2025 Q4 2025: $16.5B Q4 2025 Q1 2026: $17.1B Q1 2026 Q2 2026: $18.9B Q2 2026

Holdings 318 stocks · $11.6B

KLMN Invesco MSCI N Amr Climt ETF 16.88% 85,392,268 $2.0B Reduce -11.7%
KLMT Invesco MSCI GL CLM 500 ETF 9.95% 44,931,497 $1.2B Reduce -30.1%
AAPL Apple Inc. 4.27% 2,237,283 $497.0M Add +8.0%
MSFT Microsoft Corp. 3.34% 1,033,676 $388.0M Add +5.1%
NVDA Nvidia Corp. 3.26% 3,500,466 $379.4M Add +2.6%
LCTU iShares U.S. Carbon Transiti 2.51% 4,814,000 $291.8M No change
AMZN Amazon.com Inc. 1.99% 1,214,111 $231.0M Reduce -8.4%
IGV iShares Expanded Tech-Softwa 1.90% 2,482,227 $220.9M Add +144.3%
VCIT Vanguard Int-Term Corporate 1.90% 2,700,000 $220.8M No change
GOOGL Alphabet Inc. Class A 1.67% 1,256,099 $194.2M Reduce -6.7%
EMCS Xtracke MSCI Emer Ms ETF-Usd 1.45% 6,000,000 $168.2M Reduce -62.5%
META Meta Platforms Inc. Class A 1.45% 291,694 $168.1M Reduce -3.1%
VWOB Vanguard Emerg MKTS Gov BND 1.13% 2,050,000 $131.6M No change
VCLT Vanguard Long-Term Corp. Bond 1.04% 1,600,000 $121.5M No change
JNK SS SPDR BB High Yield Bond 0.90% 1,100,000 $104.8M New
EMLC Vaneck JPM Em Local Curr BND 0.84% 4,100,000 $97.8M No change
AVGO Broadcom Inc. 0.81% 565,030 $94.6M Reduce -13.0%
JPM JPMorgan Chase & Co. 0.80% 378,111 $92.8M Reduce -10.1%
TSLA Tesla Inc. 0.79% 354,323 $91.8M Reduce -12.9%
LLY Eli Lilly & Co. 0.77% 108,868 $89.9M Reduce -9.6%
V Visa Inc. Class A 0.70% 233,541 $81.8M Reduce -9.4%
XOM Exxon Mobil Corp. 0.61% 592,103 $70.4M Reduce -8.1%
VCEB Vanguard ESG US Corp. Bond 0.60% 1,100,000 $69.2M No change
MA Mastercard Inc. Class A 0.55% 116,608 $63.9M Reduce -9.1%
EMB iShares JP Morgan Usd Emergi 0.55% 700,000 $63.4M Add +133.3%
UNH Unitedhealth Group Inc. 0.54% 120,262 $63.0M Reduce -10.7%
TSM Taiwan Semiconductor-SP ADR 0.53% 372,400 $61.8M No change
JNJ Johnson & Johnson 0.51% 356,756 $59.2M Reduce -0.6%
PG The Procter & Gamble Co. 0.49% 333,055 $56.8M Reduce -7.2%
NFLX Netflix Inc. 0.47% 58,975 $55.0M Reduce -10.8%
COST Costco Wholesale Corp. 0.47% 57,957 $54.8M Reduce -7.2%
FALN iShares Fallen Angels ETF 0.46% 2,000,000 $53.6M New
WMT Walmart Inc. 0.46% 605,166 $53.1M Reduce -7.1%
ASHR Xtrackers Harvest Csi 300 CH 0.45% 1,990,078 $52.9M New
ABBV Abbvie Inc. 0.44% 246,167 $51.6M Reduce -5.1%
HD Home Depot Inc. 0.44% 139,095 $51.0M Reduce -8.3%
KO The Coca-Cola Co. 0.38% 609,276 $43.6M Reduce -10.1%
KURE Kraneshares MSCI All China H 0.36% 2,682,129 $41.8M New
ORCL Oracle Corp. 0.36% 297,118 $41.5M Reduce -12.7%
CVX Chevron Corp. 0.35% 242,230 $40.5M Reduce -8.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.35% 961,624 $40.1M Reduce -9.4%
CRM Salesforce Inc. 0.32% 136,828 $36.7M Reduce -11.4%
ABT Abbott Laboratories 0.29% 258,552 $34.3M Add +0.1%
MRK Merck & Co. Inc. 0.29% 382,074 $34.3M Reduce -10.1%
MCD McDonald's Corp. 0.29% 109,566 $34.2M Reduce -6.5%
WFC Wells Fargo & Co. 0.29% 464,859 $33.4M Reduce -9.2%
LIN Linde PLC 0.29% 71,285 $33.2M Reduce -6.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.28% 132,258 $32.9M Reduce -7.7%
GE General Electric filed as GE AEROSPACE 0.28% 164,008 $32.8M Reduce -5.5%
T AT&T Inc. 0.28% 1,153,960 $32.6M Reduce -8.0%
PEP Pepsico Inc. 0.28% 213,457 $32.0M Reduce -7.2%
CSCO Cisco Systems Inc. 0.27% 503,147 $31.0M Reduce -6.4%
TMO Thermo Fisher Scientific Inc. 0.26% 61,117 $30.4M Reduce -14.1%
ALV Autoliv Inc. 0.25% 326,237 $28.9M New
BSX Boston Scientific Corp. 0.24% 279,081 $28.2M Reduce -9.2%
BABA Alibaba Group Holding-SP ADR 0.24% 210,400 $27.8M Reduce -12.5%
SPGI S&P Global Inc. 0.24% 54,507 $27.7M Reduce -9.5%
AMT American Tower Corp. 0.24% 147,848 $27.4M Add +66.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.23% 276,844 $27.3M Reduce -7.6%
GOOG Alphabet Inc. Class C 0.23% 171,800 $26.8M Reduce -13.2%
AMGN Amgen Inc. 0.23% 85,659 $26.7M Reduce -13.0%
CAT Caterpillar Inc. 0.23% 80,556 $26.6M Reduce -4.5%
GS Goldman Sachs Group Inc. 0.22% 47,500 $25.9M Reduce -9.2%
ISRG Intuitive Surgical Inc. 0.22% 52,253 $25.9M Reduce -10.0%
QCOM Qualcomm Inc. 0.22% 165,271 $25.4M Reduce -7.6%
NOW ServiceNow Inc. 0.22% 31,483 $25.1M Reduce -23.4%
RY Royal Bank of Canada 0.22% 222,529 $25.1M Reduce -10.3%
ACN Accenture PLC Class A 0.21% 79,886 $24.9M Reduce -6.9%
PLTR Palantir Technologies Inc. Class A 0.21% 285,100 $24.1M Reduce -7.6%
INTU Intuit Inc. 0.21% 38,958 $23.9M Reduce -7.4%
MRSH Marsh & McLennan Cos 0.20% 96,704 $23.6M Reduce -9.9%
BKNG Booking Holdings Inc. 0.20% 5,024 $23.1M Reduce -5.8%
TMUS T-Mobile US Inc. 0.20% 86,717 $23.1M Add +0.2%
PGR Progressive Corp. 0.20% 80,644 $22.8M Reduce -9.4%
UNP Union Pacific Corp. 0.19% 95,701 $22.6M Reduce -5.0%
VZ Verizon Communications Inc. 0.19% 498,409 $22.6M Reduce -26.2%
AXP American Express Co. 0.19% 83,435 $22.4M Reduce -9.2%
PFE Pfizer Inc. 0.19% 863,263 $21.9M Reduce -0.1%
GILD Gilead Sciences Inc. 0.19% 195,015 $21.9M Reduce -10.1%
MS Morgan Stanley 0.18% 184,012 $21.5M Reduce -9.2%
C Citigroup Inc. 0.18% 298,976 $21.2M Reduce -9.2%
COP Conocophillips 0.18% 198,152 $20.8M Reduce -8.8%
DE Deere & Co. 0.18% 44,307 $20.8M Add +36.7%
NEE Nextera Energy Inc. 0.18% 291,793 $20.7M Reduce -1.0%
BLK BlackRock Inc. 0.18% 21,812 $20.6M Reduce -9.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.17% 166,566 $20.3M Reduce -7.8%
UBER Uber Technologies Inc. 0.17% 275,592 $20.1M Reduce -15.5%
TXN Texas Instruments Inc. 0.17% 110,741 $19.9M Reduce -6.7%
FISV Fiserv Inc. 0.17% 89,431 $19.7M Reduce -9.2%
ADBE Adobe Inc. 0.17% 51,326 $19.7M Reduce -42.6%
PLD Prologis Inc. 0.16% 169,946 $19.0M Reduce -9.6%
BMY Bristol-Myers Squibb Co. 0.16% 311,326 $19.0M Reduce -8.9%
ADI Analog Devices Inc. 0.16% 93,959 $18.9M Reduce -7.8%
ADP Automatic Data Processing 0.16% 61,653 $18.8M Add +11.0%
AMAT Applied Materials Inc. 0.16% 127,882 $18.6M Reduce -6.5%
LRCX Lam Research Corp. 0.16% 254,330 $18.5M Reduce -7.4%
DHR Danaher Corp. 0.16% 89,926 $18.4M Reduce -13.1%
LOW Lowe's Cos Inc. 0.16% 78,563 $18.3M Reduce -10.3%
ENB Enbridge Inc. 0.16% 413,661 $18.3M Reduce -9.5%
VRTX Vertex Pharmaceuticals Inc. 0.16% 37,626 $18.2M Reduce -19.6%
WELL Welltower Inc. 0.16% 117,776 $18.0M Reduce -9.6%
SCHW Schwab (charles) Corp. 0.15% 229,081 $17.9M Reduce -9.4%
MDLZ Mondelez International Inc. Class A 0.15% 262,965 $17.8M Reduce -7.2%
SYK Stryker Corp. 0.15% 47,510 $17.7M Reduce -9.0%
ETN Eaton Corp. PLC 0.15% 64,925 $17.6M Reduce -13.9%
CMCSA Comcast Corp. Class A 0.15% 475,094 $17.5M Reduce -23.8%
CB Chubb Ltd. 0.15% 58,021 $17.5M Reduce -11.7%
TD Toronto-Dominion Bank 0.15% 289,998 $17.4M Reduce -10.2%
PANW Palo Alto Networks Inc. 0.15% 100,676 $17.2M Reduce -7.8%
MDT Medtronic PLC 0.15% 191,051 $17.2M Reduce -7.9%
SHOP Shopify Inc. Class A 0.15% 180,358 $17.2M Reduce -6.4%
MCK McKesson Corp. 0.15% 25,253 $17.0M Reduce -10.3%
WM Waste Management Inc. 0.15% 72,950 $16.9M Reduce -8.0%
SBUX Starbucks Corp. 0.14% 166,642 $16.3M Reduce -17.7%
CME Cme Group Inc. 0.14% 61,396 $16.3M Reduce -9.6%
ICE Intercontinental Exchange Inc. 0.14% 94,401 $16.3M Reduce -9.3%
AMD Advanced Micro Devices 0.14% 157,017 $16.1M Reduce -36.7%
FCX Freeport-McMoran Inc. 0.14% 424,067 $16.1M Reduce -6.3%
BX Blackstone Inc. 0.13% 112,100 $15.7M Reduce -9.6%
CL Colgate-Palmolive Co. 0.13% 164,417 $15.4M Reduce -7.0%
TDG Transdigm Group Inc. 0.13% 11,120 $15.4M Reduce -9.7%
MCO Moody's Corp. 0.13% 32,266 $15.0M Reduce -9.0%
EOG EOG Resources Inc. 0.13% 116,892 $15.0M Reduce -8.3%
APH Amphenol Corp. Class A 0.13% 227,939 $15.0M Reduce -7.9%
ECL Ecolab Inc. 0.13% 57,540 $14.6M Reduce -5.9%
PH Parker Hannifin Corp. 0.13% 23,937 $14.6M Reduce -23.1%
ELV Elevance Health Inc. 0.12% 33,382 $14.5M Reduce -6.2%
BDX Becton Dickinson and Co. 0.12% 62,921 $14.4M Reduce -3.4%
HLT Hilton Worldwide Holdings Inc. 0.12% 63,170 $14.4M Reduce -8.0%
CP Canadian Pacific Kansas City 0.12% 201,709 $14.2M Add +41.0%
AEM Agnico Eagle Mines Ltd. 0.12% 130,252 $14.1M Reduce -3.8%
WPM Wheaton Precious Metals Corp. 0.12% 181,458 $14.1M Reduce -4.8%
MMM 3M Co. 0.12% 95,345 $14.0M Reduce -5.3%
TT Trane Technologies PLC 0.12% 41,511 $14.0M Reduce -12.1%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.12% 145,829 $13.9M Reduce -10.4%
BN Brookfield Corp. 0.12% 263,513 $13.8M Reduce -10.4%
MU Micron Technology Inc. 0.12% 157,571 $13.7M Reduce -7.6%
EQIX Equinix Inc. 0.12% 16,753 $13.7M Reduce -9.2%
CVS CVS Health Corp. 0.12% 199,773 $13.5M Add +19.4%
AON Aon PLC Class A 0.12% 33,900 $13.5M Reduce -9.6%
TEL Te Connectivity PLC 0.12% 95,645 $13.5M Reduce -8.0%
CI The Cigna Group 0.12% 40,642 $13.4M Reduce -12.1%
JCI Johnson Controls Internation 0.11% 166,606 $13.3M Add +1.2%
CRWD CrowdStrike Holdings Inc. Class A 0.11% 37,815 $13.3M Reduce -8.3%
MELI MercadoLibre Inc. 0.11% 6,821 $13.3M Reduce -10.4%
CMG Chipotle Mexican Grill Inc. 0.11% 260,802 $13.1M Add +1.4%
SHW The Sherwin-Williams Co. 0.11% 37,493 $13.1M Reduce -5.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.11% 155,590 $13.0M Reduce -9.2%
GEV GE Vernova Inc. 0.11% 42,743 $13.0M Reduce -10.3%
ORLY O'reilly Automotive Inc. 0.11% 9,108 $13.0M Reduce -13.8%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.11% 37,650 $13.0M Reduce -9.6%
ANET Arista Networks Inc. 0.11% 166,800 $12.9M Reduce -7.8%
ROP Roper Technologies Inc. 0.11% 21,734 $12.8M Reduce -7.7%
WMB Williams Cos Inc. 0.11% 214,300 $12.8M Reduce -8.0%
EMR Emerson Electric Co. 0.11% 115,505 $12.7M Add +1.1%
ADSK Autodesk Inc. 0.11% 48,295 $12.6M Reduce -8.0%
AIG American International Group 0.11% 145,130 $12.6M Reduce -9.5%
ED Consolidated Edison Inc. 0.11% 114,015 $12.6M Reduce -3.4%
COF Capital One Financial Corp. 0.11% 70,036 $12.6M Reduce -9.1%
SPG Simon Property Group Inc. 0.11% 75,349 $12.5M Reduce -9.1%
RSG Republic Services Inc. 0.11% 51,478 $12.5M Reduce -11.4%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.11% 293,452 $12.3M Reduce -8.1%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.10% 256,656 $12.2M Reduce -10.5%
COR Cencora Inc. 0.10% 42,925 $11.9M Reduce -7.7%
CTAS Cintas Corp. 0.10% 57,956 $11.9M Reduce -14.2%
MFC Manulife Financial Corp. 0.10% 382,039 $11.9M Reduce -10.9%
ITW Illinois Tool Works 0.10% 47,834 $11.9M Add +36.9%
CNI Canadian Natl Railway Co. 0.10% 121,346 $11.8M Add +33.1%
MAR Marriott International Class A 0.10% 49,536 $11.8M Reduce -7.8%
SNPS Synopsys Inc. 0.10% 27,365 $11.7M Reduce -7.4%
KKR KKR & Co. Inc. 0.10% 101,027 $11.7M Reduce -9.1%
NEM Newmont Corp. 0.10% 240,656 $11.6M Reduce -5.9%
PPG PPG Industries Inc. 0.10% 106,086 $11.6M Reduce -6.8%
YUM Yum! Brands Inc. 0.10% 73,653 $11.6M Reduce -10.4%
DOV Dover Corp. 0.10% 65,806 $11.6M Reduce -12.5%
MSI Motorola Solutions Inc. 0.10% 26,401 $11.6M Reduce -8.0%
PNC PNC Financial Services Group 0.10% 65,634 $11.5M Reduce -9.1%
CDNS Cadence Design SYS Inc. 0.10% 45,349 $11.5M Reduce -8.1%
PCAR Paccar Inc. 0.10% 118,083 $11.5M Reduce -14.4%
CSX CSX Corp. 0.10% 390,664 $11.5M Add +36.7%
KMB Kimberly-Clark Corp. 0.10% 79,516 $11.3M Reduce -7.3%
O Realty Income Corp. 0.10% 194,118 $11.3M Reduce -9.7%
AVB Avalonbay Communities Inc. 0.10% 52,461 $11.3M Reduce -10.0%
UPS United Parcel Service Class B 0.10% 102,270 $11.2M Add +35.7%
TRV The Travelers Cos Inc. 0.10% 42,447 $11.2M Reduce -9.0%
USB US Bancorp 0.10% 263,520 $11.1M Reduce -9.2%
AZO AutoZone Inc. 0.10% 2,903 $11.1M Reduce -2.4%
HES Hess Corp. 0.09% 68,938 $11.0M Reduce -8.1%
NKE Nike Inc. Class B 0.09% 173,195 $11.0M Reduce -15.3%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 0.09% 194,311 $10.9M Reduce -10.6%
HWM Howmet Aerospace Inc. 0.09% 84,124 $10.9M Reduce -31.3%
EXC Exelon Corp. 0.09% 236,415 $10.9M Add +5.2%
OKE Oneok Inc. 0.09% 108,262 $10.7M Reduce -8.2%
REGN Regeneron Pharmaceuticals 0.09% 16,888 $10.7M Reduce -3.4%
TRI Thomson Reuters Corp. 0.09% 62,054 $10.7M Reduce -9.9%
KMI Kinder Morgan Inc. 0.09% 374,803 $10.7M Reduce -8.1%
CMI Cummins Inc. 0.09% 34,020 $10.7M Reduce -13.7%
FTNT Fortinet Inc. 0.09% 109,600 $10.6M Reduce -7.9%
CARR Carrier Global Corp. 0.09% 166,309 $10.5M Reduce -14.8%
CTVA Corteva Inc. 0.09% 166,476 $10.5M Reduce -6.0%
BKR Baker Hughes Co. 0.09% 238,029 $10.5M Reduce -7.9%
ZTS Zoetis Inc. 0.09% 63,458 $10.4M Reduce -10.6%
KDP Keurig Dr Pepper Inc. 0.09% 305,226 $10.4M Reduce -7.2%
KLAC KLA Corp. 0.09% 15,364 $10.4M Reduce -4.4%
CTSH Cognizant Tech Solutions-A 0.09% 134,311 $10.3M Reduce -7.5%
REG Regency Centers Corp. 0.09% 138,737 $10.2M Reduce -9.5%
PYPL PayPal Holdings Inc. 0.09% 156,229 $10.2M Reduce -9.1%
IQV Iqvia Holdings Inc. 0.09% 57,650 $10.2M Reduce -10.6%
FANG Diamondback Energy Inc. 0.09% 63,299 $10.1M Reduce -7.9%
GLW Corning Inc. 0.09% 220,632 $10.1M Reduce -8.3%
CTRA Coterra Energy Inc. 0.09% 348,591 $10.1M Reduce -7.8%
NSC Norfolk Southern Corp. 0.09% 42,510 $10.1M Reduce -11.8%
DVN Devon Energy Corp. 0.09% 267,970 $10.0M Reduce -7.9%
VTR Ventas Inc. 0.09% 145,268 $10.0M Reduce -9.3%
CEG Constellation Energy 0.09% 49,397 $10.0M Reduce -10.0%
JD Jd.com Inc.-ADR 0.09% 241,300 $9.9M No change
INTC Intel Corp. 0.09% 435,023 $9.9M Reduce -5.0%
GIS General Mills Inc. 0.08% 165,172 $9.9M Reduce -7.3%
APO Apollo Global Management Inc. 0.08% 72,101 $9.9M Reduce -8.8%
AFL Aflac Inc. 0.08% 88,691 $9.9M Reduce -9.1%
TFC Truist Financial Corp. 0.08% 239,480 $9.9M Reduce -9.3%
EW Edwards Lifesciences Corp. 0.08% 135,958 $9.9M Reduce -3.4%
TRP TC Energy Corp. 0.08% 208,600 $9.8M Reduce -8.1%
PRU Prudential Financial Inc. 0.08% 87,739 $9.8M Reduce -9.4%
GM General Motors Co. 0.08% 208,203 $9.8M Reduce -12.0%
NDAQ Nasdaq Inc. 0.08% 129,076 $9.8M Reduce -9.2%
APD Air Products & Chemicals Inc. 0.08% 33,043 $9.7M Reduce -6.0%
PBA Pembina Pipeline Corp. 0.08% 243,479 $9.7M Reduce -10.2%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.08% 135,700 $9.7M Reduce -9.6%
LNG Cheniere Energy Inc. 0.08% 41,900 $9.7M Reduce -7.7%
PEG Public Service Enterprise GP 0.08% 117,237 $9.6M Reduce -20.9%
SLF Sun Life Financial Inc. 0.08% 167,864 $9.6M Reduce -10.1%
SYY Sysco Corp. 0.08% 127,907 $9.6M Reduce -7.2%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.08% 294,088 $9.6M Reduce -9.5%
CRH CRH PLC 0.08% 107,200 $9.4M Reduce -8.0%
PAYX Paychex Inc. 0.08% 61,053 $9.4M Reduce -11.2%
CHD Church & Dwight Co. Inc. 0.08% 84,699 $9.3M Reduce -7.3%
ALL Allstate Corp. 0.08% 44,900 $9.3M Reduce -10.6%
ABNB Airbnb Inc. Class A 0.08% 77,805 $9.3M Reduce -4.2%
KVUE Kenvue Inc. 0.08% 385,566 $9.2M Reduce -7.2%
AME Ametek Inc. 0.08% 53,695 $9.2M Add +0.8%
WY Weyerhaeuser Co. 0.08% 315,442 $9.2M Reduce -9.7%
DFS Discover Financial Services 0.08% 53,421 $9.1M Reduce -9.2%
CPRT Copart Inc. 0.08% 161,088 $9.1M Reduce -13.7%
PSX Phillips 66 0.08% 73,800 $9.1M Reduce -8.2%
MET Metlife Inc. 0.08% 113,156 $9.1M Reduce -9.4%
AMP Ameriprise Financial Inc. 0.08% 18,762 $9.1M Reduce -8.8%
DD Dupont DE Nemours Inc. 0.08% 121,439 $9.1M Reduce -6.4%
SNOW Snowflake Inc. 0.08% 61,746 $9.0M Reduce -7.5%
CAH Cardinal Health Inc. 0.08% 65,500 $9.0M Reduce -3.4%
DASH DoorDash Inc. Class A 0.08% 49,300 $9.0M Reduce -3.1%
MRVL Marvell Technology Inc. 0.08% 145,678 $9.0M Reduce -7.7%
PCG P G & E Corp. 0.08% 514,377 $8.8M Add +11.4%
HCA HCA Healthcare Inc. 0.08% 25,363 $8.8M Reduce -1.2%
HSY The Hershey Co. 0.07% 50,726 $8.7M Reduce -7.0%
F Ford Motor Co. filed as FORD MTR CO 0.07% 854,872 $8.6M Reduce -7.9%
GRMN Garmin Ltd. 0.07% 39,100 $8.5M Reduce -3.5%
DLR Digital Realty Trust Inc. 0.07% 58,983 $8.5M Reduce -9.2%
PDD PDD Holdings Inc. 0.07% 71,300 $8.4M Reduce -8.9%
ROST Ross Stores Inc. 0.07% 65,927 $8.4M Reduce -7.8%
CBRE CBRE Group Inc. Class A 0.07% 64,400 $8.4M Reduce -10.7%
PSA Public Storage 0.07% 28,098 $8.4M Reduce -9.4%
HAL Halliburton Co. 0.07% 330,503 $8.4M Reduce -8.0%
APP AppLovin Corp. Class A 0.07% 31,600 $8.4M Reduce -7.6%
ZBH Zimmer Biomet Holdings Inc. 0.07% 73,712 $8.3M Reduce -19.7%
KIM Kimco Realty Corp. 0.07% 388,993 $8.3M Reduce -9.7%
QSR Restaurant Brands Intern 0.07% 122,929 $8.2M Reduce -7.9%
RCL Royal Caribbean Cruises Ltd. 0.07% 39,754 $8.2M Reduce -8.6%
FAST Fastenal Co. 0.07% 104,200 $8.1M Add +37.5%
IT Gartner Inc. 0.07% 19,201 $8.1M Reduce -7.7%
EFX Equifax Inc. 0.07% 33,064 $8.1M Reduce -14.0%
ARES Ares Management Corp. Class A 0.07% 54,900 $8.0M Reduce -10.6%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.07% 27,900 $8.0M Reduce -7.6%
OTIS Otis Worldwide Corp. 0.07% 77,542 $8.0M Reduce -32.3%
IR Ingersoll-Rand Inc. 0.07% 99,664 $8.0M Reduce -14.1%
FDX FedEx Corp. 0.07% 32,620 $8.0M Add +36.4%
ES Eversource Energy 0.07% 127,963 $7.9M Add +4.1%
WAB Wabtec Corp. 0.07% 43,624 $7.9M Reduce -16.1%
DOC Healthpeak Properties Inc. 0.07% 389,350 $7.9M Reduce -9.4%
AVY Avery Dennison Corp. 0.07% 44,129 $7.9M Reduce -6.6%
FLUT Flutter Entertainment PLC-Di 0.07% 35,200 $7.8M Reduce -3.3%
TGT Target Corp. 0.07% 74,480 $7.8M Reduce -7.3%
OMC Omnicom Group 0.07% 91,474 $7.6M Reduce -7.6%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.06% 7,638 $7.5M Reduce -11.6%
IPG Interpublic Group of Cos Inc. 0.06% 277,500 $7.5M Reduce -7.6%
GEHC GE Healthcare Technology 0.06% 92,300 $7.4M Add +30.7%
AXON Axon Enterprise Inc. 0.06% 14,100 $7.4M Reduce -13.5%
HEI Heico Corp. 0.06% 27,700 $7.4M Reduce -2.1%
URI United Rentals Inc. 0.06% 11,805 $7.4M Add +2.5%
FICO Fair Isaac Corp. 0.06% 4,000 $7.4M Reduce -9.1%
FIS Fidelity National Info Serv 0.06% 96,782 $7.2M Reduce -9.3%
HPQ HP Inc. 0.06% 257,147 $7.1M Reduce -8.0%
NUE Nucor Corp. 0.06% 59,035 $7.1M Reduce -6.2%
PWR Quanta Services Inc. 0.06% 27,840 $7.1M Reduce -10.9%
VMC Vulcan Materials Co. 0.06% 30,109 $7.0M Reduce -5.9%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.06% 80,238 $6.9M Reduce -9.4%
WDAY Workday Inc. Class A 0.06% 28,969 $6.8M Reduce -36.4%
A Agilent Technologies Inc. 0.06% 56,871 $6.7M Reduce -23.4%
HST Host Hotels & Resorts Inc. 0.06% 462,000 $6.6M Reduce -9.6%
DHI D.R. Horton Inc. 0.06% 50,946 $6.5M Reduce -14.9%
EIX Edison International 0.05% 107,847 $6.4M Reduce -16.5%
FERG Ferguson Enterprises Inc. 0.05% 39,301 $6.3M Reduce -9.2%
NXPI NXP Semiconductors NV 0.05% 32,544 $6.2M Reduce -4.7%
LEN Lennar Corp. Class A 0.05% 50,826 $5.8M Reduce -10.2%
SCCO Southern Copper Corp. 0.05% 62,351 $5.8M Reduce -5.1%
XYZ Block Inc. 0.05% 106,725 $5.8M Reduce -9.1%
MCHP Microchip Technology Inc. 0.05% 119,334 $5.8M Reduce -7.7%
COIN Coinbase Global Inc. Class A 0.05% 31,000 $5.3M Reduce -10.7%
EBND State Street SPDR Bloomberg 0.03% 200,000 $4.0M No change
CVNA Carvana Co. 0.03% 19,060 $4.0M Reduce -8.4%
TCOM Trip.com Group Ltd.-ADR 0.03% 62,000 $3.9M No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.03% 69,860 $3.8M Reduce -7.0%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.03% 365,100 $3.7M Reduce -13.1%
RACE Ferrari NV 0.03% 8,500 $3.6M No change
HEI.A Heico Corp. Class A 0.02% 12,750 $2.7M Reduce -65.5%
BMRN Biomarin Pharmaceutical Inc. 0.02% 30,000 $2.1M Reduce -25.0%
ARGX Argenx SE - ADR 0.01% 1,500 $888K Reduce -40.0%
MRP Millrose Properties 0.00% 17,957 $476K Reduce -36.6%

Portfolio Sells Q4 2024 → Q1 2025

KLMT Invesco MSCI GL CLM 500 ETF Reduce -30.1% 9.95% −2.78
EMCS Xtracke MSCI Emer Ms ETF-Usd Reduce -62.5% 1.45% −1.73
KLMN Invesco MSCI N Amr Climt ETF Reduce -11.7% 16.88% −0.80
TSLA Tesla Inc. Reduce -12.9% 0.79% −0.46
AVGO Broadcom Inc. Reduce -13.0% 0.81% −0.33
GOOGL Alphabet Inc. Class A Reduce -6.7% 1.67% −0.26
AMZN Amazon.com Inc. Reduce -8.4% 1.99% −0.22
ADBE Adobe Inc. Reduce -42.6% 0.17% −0.13
INDA iShares MSCI India ETF Sold out 0.00% −0.12
NOW ServiceNow Inc. Reduce -23.4% 0.22% −0.12
AMD Advanced Micro Devices Reduce -36.7% 0.14% −0.09
CRM Salesforce Inc. Reduce -11.4% 0.32% −0.08
ORCL Oracle Corp. Reduce -12.7% 0.36% −0.07
ROK Rockwell Automation Inc. Sold out 0.00% −0.07
AWK American Water Works Co. Inc. Sold out 0.00% −0.06
GOOG Alphabet Inc. Class C Reduce -13.2% 0.23% −0.06
MRVL Marvell Technology Inc. Reduce -7.7% 0.08% −0.06
ANET Arista Networks Inc. Reduce -7.8% 0.11% −0.04
ETN Eaton Corp. PLC Reduce -13.9% 0.15% −0.04
GLNG Golar LNG Ltd. Sold out 0.00% −0.04
TTD Trade Desk Inc./the Class A Reduce -7.0% 0.03% −0.03
WDAY Workday Inc. Class A Reduce -36.4% 0.06% −0.03
HEI.A Heico Corp. Class A Reduce -65.5% 0.02% −0.03
BX Blackstone Inc. Reduce -9.6% 0.13% −0.03
CMCSA Comcast Corp. Class A Reduce -23.8% 0.15% −0.03
MRK Merck & Co. Inc. Reduce -10.1% 0.29% −0.03
XYZ Block Inc. Reduce -9.1% 0.05% −0.03
PH Parker Hannifin Corp. Reduce -23.1% 0.13% −0.03
KKR KKR & Co. Inc. Reduce -9.1% 0.10% −0.02
EIX Edison International Reduce -16.5% 0.05% −0.02
PYPL PayPal Holdings Inc. Reduce -9.1% 0.09% −0.02
NKE Nike Inc. Class B Reduce -15.3% 0.09% −0.02
DHR Danaher Corp. Reduce -13.1% 0.16% −0.02
COIN Coinbase Global Inc. Class A Reduce -10.7% 0.05% −0.02
TMO Thermo Fisher Scientific Inc. Reduce -14.1% 0.26% −0.02
A Agilent Technologies Inc. Reduce -23.4% 0.06% −0.02
DIS The Walt Disney Co. Reduce -7.6% 0.23% −0.02
DXCM Dexcom Inc. Sold out 0.00% −0.02
TGT Target Corp. Reduce -7.3% 0.07% −0.02
ACN Accenture PLC Class A Reduce -6.9% 0.21% −0.01
DLR Digital Realty Trust Inc. Reduce -9.2% 0.07% −0.01
EQIX Equinix Inc. Reduce -9.2% 0.12% −0.01
APO Apollo Global Management Inc. Reduce -8.8% 0.08% −0.01
PWR Quanta Services Inc. Reduce -10.9% 0.06% −0.01
AXP American Express Co. Reduce -9.2% 0.19% −0.01
CDNS Cadence Design SYS Inc. Reduce -8.1% 0.10% −0.01
ARES Ares Management Corp. Class A Reduce -10.6% 0.07% −0.01
CMI Cummins Inc. Reduce -13.7% 0.09% −0.01
MAR Marriott International Class A Reduce -7.8% 0.10% −0.01
BNS Bank of Nova Scotia Reduce -10.5% 0.10% −0.01

Portfolio Buys Q4 2024 → Q1 2025

IGV iShares Expanded Tech-Softwa Add +144.3% 1.90% +1.13
JNK SS SPDR BB High Yield Bond New 0.90% +0.90
FALN iShares Fallen Angels ETF New 0.46% +0.46
ASHR Xtrackers Harvest Csi 300 CH New 0.45% +0.45
KURE Kraneshares MSCI All China H New 0.36% +0.36
EMB iShares JP Morgan Usd Emergi Add +133.3% 0.55% +0.34
AAPL Apple Inc. Add +8.0% 4.27% +0.33
ALV Autoliv Inc. New 0.25% +0.25
MSFT Microsoft Corp. Add +5.1% 3.34% +0.19
AMT American Tower Corp. Add +66.3% 0.24% +0.11
DE Deere & Co. Add +36.7% 0.18% +0.07
ABT Abbott Laboratories Add +0.1% 0.29% +0.07
CVS CVS Health Corp. Add +19.4% 0.12% +0.06
TMUS T-Mobile US Inc. Add +0.2% 0.20% +0.05
CP Canadian Pacific Kansas City Add +41.0% 0.12% +0.04
ADP Automatic Data Processing Add +11.0% 0.16% +0.04
ITW Illinois Tool Works Add +36.9% 0.10% +0.03
CNI Canadian Natl Railway Co. Add +33.1% 0.10% +0.03
EXC Exelon Corp. Add +5.2% 0.09% +0.03
CSX CSX Corp. Add +36.7% 0.10% +0.03
FAST Fastenal Co. Add +37.5% 0.07% +0.03
UPS United Parcel Service Class B Add +35.7% 0.10% +0.02
GEHC GE Healthcare Technology Add +30.7% 0.06% +0.02
FDX FedEx Corp. Add +36.4% 0.07% +0.02
JCI Johnson Controls Internation Add +1.2% 0.11% +0.02
ES Eversource Energy Add +4.1% 0.07% +0.01
AME Ametek Inc. Add +0.8% 0.08% +0.01
PCG P G & E Corp. Add +11.4% 0.08% +0.01
URI United Rentals Inc. Add +2.5% 0.06% +0.00
EMR Emerson Electric Co. Add +1.1% 0.11% +0.00
CMG Chipotle Mexican Grill Inc. Add +1.4% 0.11% −0.01
NVDA Nvidia Corp. Add +2.6% 3.26% −0.22

Notes & Other Activity Q4 2024 → Q1 2025

RCI Rogers Communications Inc. Class B CL B Sold out 0 $0before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 313$18.9BKLMN, KLMT, IGV, EMCS, NVDA
Q1 2026Amended 319$17.1BIGV, KLMN, KLMT, XLE, EMCS
Q4 2025 308$16.5BKLMN, KLMT, VOO, NVDA, AAPL
Q3 2025 312$15.6BKLMN, KLMT, EMCS, NVDA, AAPL
Q2 2025 309$13.6BKLMN, KLMT, EMCS, NVDA, MSFT
Q1 2025 318$11.6BKLMN, KLMT, AAPL, MSFT, NVDA
Q4 2024 320$13.2BKLMN, KLMT, AAPL, NVDA, EMCS
Q3 2024 316$12.6BKLMT, IGV, NVDA, AAPL, MSFT
Q2 2024 344$12.4BKLMT, NVDA, IGV, AAPL, MSFT
Q1 2024 354$11.5BMSFT, EMCR, AAPL, NVDA, AMZN