Varma Mutual Pension Insurance Co

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed August 13, 2026), Varma Mutual Pension Insurance Co reported 319 stock positions worth $17.1 billion. Its top holding was iShares Expanded Tech-Softwa (IGV) at 9.6% of the portfolio, followed by Invesco MSCI N Amr Climt ETF (KLMN, 8.8%) and Invesco MSCI GL CLM 500 ETF (KLMT, 7.9%). Compared with Q4 2025, it opened 14 new positions, sold out of 4, added to 48 and reduced 46. The biggest buy was a new position in iShares Expanded Tech-Softwa (IGV) and the biggest sale Invesco MSCI N Amr Climt ETF (KLMN, shares −41%).

Most Recent 13F
Q2 2026
Location
Varma, H9
CIK
0001698484
Portfolio Value
$17.1B (Q1 2026)
SEC Filing
0001140361-26-032746 ↗ filed Aug 13, 2026

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 Q1 2025 Q2 2025: $13.6B Q2 2025 Q3 2025: $15.6B Q3 2025 Q4 2025: $16.5B Q4 2025 Q1 2026: $17.1B $17.1B Q1 2026 Q2 2026: $18.9B Q2 2026

Holdings 319 stocks · $17.1B
IGV iShares Expanded Tech-Softwa 9.56% 20,358,901 $1.6B New
KLMN Invesco MSCI N Amr Climt ETF 8.78% 56,035,951 $1.5B Reduce -41.2%
KLMT Invesco MSCI GL CLM 500 ETF 7.94% 44,931,497 $1.4B No change
XLE SS Energy Select Sector 5.05% 14,067,185 $861.8M New
EMCS Xtracke MSCI Emer Ms ETF-Usd 4.49% 20,621,177 $766.1M Add +16.8%
NVDA Nvidia Corp. 4.00% 3,908,266 $681.6M Reduce -2.7%
AAPL Apple Inc. 3.75% 2,516,883 $638.8M Add +0.8%
GOOGL Alphabet Inc. Class A 2.70% 1,602,199 $460.7M No change
MSFT Microsoft Corp. 2.54% 1,168,076 $432.4M Add +2.5%
AMZN Amazon.com Inc. 2.02% 1,657,111 $345.1M Add +1.5%
LCTU iShares U.S. Carbon Transiti 1.98% 4,814,000 $337.6M No change
KWEB Kranesh Csi China Internet 1.48% 8,885,966 $252.6M New
QQQ Invesco QQQ Trust Series 1 1.35% 400,000 $230.9M New
VCIT Vanguard Int-Term Corporate 1.31% 2,700,000 $223.4M No change
META Meta Platforms Inc. Class A 1.28% 380,894 $217.9M Add +1.5%
AVGO Broadcom Inc. 1.13% 621,930 $192.5M Reduce -3.3%
TSLA Tesla Inc. 0.90% 414,023 $153.9M Add +2.5%
JPM JPMorgan Chase & Co. 0.78% 450,511 $132.5M No change
TSM Taiwan Semiconductor-SP ADR 0.72% 364,600 $123.2M No change
VCLT Vanguard Long-Term Corp. Bond 0.70% 1,600,000 $119.6M No change
XOM Exxon Mobil Corp. 0.66% 662,803 $112.5M No change
LLY Eli Lilly & Co. 0.64% 117,868 $108.4M Reduce -4.1%
JNJ Johnson & Johnson 0.55% 381,356 $93.2M Add +1.3%
V Visa Inc. Class A 0.52% 291,341 $88.1M No change
WMT Walmart Inc. 0.48% 665,366 $82.7M Reduce -0.4%
VWOB Vanguard Emerg MKTS Gov BND 0.48% 1,250,000 $82.1M No change
EMLC Vaneck JPM Em Local Curr BND 0.46% 3,100,000 $77.8M No change
MA Mastercard Inc. Class A 0.43% 148,208 $74.1M No change
EWZ iShares MSCI Brazil ETF 0.41% 1,800,550 $69.1M New
VCEB Vanguard ESG US Corp. Bond 0.41% 1,100,000 $69.1M No change
CVX Chevron Corp. 0.37% 308,436 $63.8M No change
COST Costco Wholesale Corp. 0.37% 63,957 $63.7M Reduce -2.3%
NFLX Netflix Inc. 0.35% 620,250 $59.6M Reduce -1.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.34% 1,196,424 $58.3M No change
ABBV Abbvie Inc. 0.34% 266,667 $58.0M Add +1.9%
MU Micron Technology Inc. 0.34% 170,071 $57.5M No change
ASHR Xtrackers Harvest Csi 300 CH 0.33% 1,700,000 $55.5M New
GOOG Alphabet Inc. Class C 0.32% 190,914 $54.8M No change
PG The Procter & Gamble Co. 0.32% 378,855 $54.7M No change
CAT Caterpillar Inc. 0.32% 76,416 $54.1M No change
KO The Coca-Cola Co. 0.32% 707,276 $53.8M No change
PLTR Palantir Technologies Inc. Class A 0.31% 365,900 $53.5M Add +9.8%
AMAT Applied Materials Inc. 0.31% 156,582 $53.5M Add +6.1%
LRCX Lam Research Corp. 0.30% 241,730 $51.6M Add +4.3%
ECH iShares MSCI Chile ETF 0.30% 1,294,477 $51.5M New
AMD Advanced Micro Devices 0.29% 242,917 $49.4M No change
HD Home Depot Inc. 0.29% 150,095 $49.4M Reduce -3.2%
GE General Electric filed as GE AEROSPACE 0.29% 173,745 $49.3M No change
MRK Merck & Co. Inc. 0.29% 406,874 $48.9M Add +2.5%
CSCO Cisco Systems Inc. 0.28% 611,847 $47.5M Reduce -6.8%
GS Goldman Sachs Group Inc. 0.27% 55,200 $46.7M Reduce -8.3%
KLAC KLA Corp. 0.27% 30,964 $45.6M Add +26.1%
WFC Wells Fargo & Co. 0.25% 538,759 $42.9M No change
GEV GE Vernova Inc. 0.23% 45,443 $39.7M Add +3.4%
LIN Linde PLC 0.23% 79,585 $39.5M No change
C Citigroup Inc. 0.23% 341,876 $38.8M No change
RY Royal Bank of Canada 0.23% 240,529 $38.8M No change
PEP Pepsico Inc. 0.22% 246,557 $38.3M No change
UNH Unitedhealth Group Inc. 0.22% 140,062 $37.9M Add +5.3%
VZ Verizon Communications Inc. 0.22% 742,109 $37.3M No change
MS Morgan Stanley 0.21% 221,412 $36.4M No change
COP Conocophillips 0.21% 275,852 $36.4M No change
T AT&T Inc. 0.21% 1,248,460 $36.2M No change
AXP American Express Co. 0.20% 110,935 $33.6M No change
AMGN Amgen Inc. 0.20% 95,159 $33.5M Add +7.9%
MCD McDonald's Corp. 0.20% 107,366 $33.4M Reduce -9.3%
ORCL Oracle Corp. 0.19% 224,518 $33.0M Reduce -11.8%
EMB iShares JP Morgan Usd Emergi 0.19% 350,000 $32.9M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.19% 132,408 $32.1M Reduce -5.0%
TMO Thermo Fisher Scientific Inc. 0.18% 63,217 $31.1M No change
INTC Intel Corp. 0.18% 693,623 $30.6M Add +0.7%
EWY iShares MSCI South Korea ETF 0.18% 248,071 $30.5M New
NEE Nextera Energy Inc. 0.18% 325,893 $30.3M Reduce -1.5%
ABT Abbott Laboratories 0.18% 291,652 $29.9M Add +3.5%
SCHW Schwab (charles) Corp. 0.17% 310,181 $29.2M No change
PH Parker Hannifin Corp. 0.17% 32,475 $29.1M No change
EBND State Street SPDR Bloomberg 0.17% 1,400,000 $28.9M Add +100.0%
PFE Pfizer Inc. 0.17% 1,022,063 $28.7M Add +6.2%
GILD Gilead Sciences Inc. 0.17% 205,915 $28.7M Add +5.1%
AEM Agnico Eagle Mines Ltd. 0.17% 141,252 $28.6M No change
INDA iShares MSCI India ETF 0.17% 607,910 $28.5M No change
ETN Eaton Corp. PLC 0.17% 79,475 $28.4M No change
TD Toronto-Dominion Bank 0.16% 301,698 $28.1M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.16% 290,594 $28.0M No change
CRM Salesforce Inc. 0.16% 148,028 $27.6M Reduce -5.8%
APH Amphenol Corp. Class A 0.16% 218,589 $27.6M No change
SPGI S&P Global Inc. 0.16% 64,507 $27.4M No change
WELL Welltower Inc. 0.16% 137,676 $27.2M No change
BLK BlackRock Inc. 0.16% 27,912 $26.8M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.16% 166,966 $26.7M Reduce -9.7%
ISRG Intuitive Surgical Inc. 0.15% 57,253 $26.4M No change
DE Deere & Co. 0.15% 46,567 $26.2M No change
KURE Kraneshares MSCI All China H 0.15% 1,520,129 $25.9M No change
ADI Analog Devices Inc. 0.15% 81,159 $25.8M Reduce -11.0%
UNP Union Pacific Corp. 0.15% 104,849 $25.4M Add +45.9%
TXN Texas Instruments Inc. 0.15% 128,941 $25.0M Reduce -10.4%
WPM Wheaton Precious Metals Corp. 0.15% 191,258 $25.0M No change
NEM Newmont Corp. 0.15% 230,556 $25.0M No change
ANET Arista Networks Inc. 0.14% 198,550 $24.4M No change
BMY Bristol-Myers Squibb Co. 0.14% 393,026 $23.8M Add +11.3%
PLD Prologis Inc. 0.14% 179,946 $23.8M No change
UBER Uber Technologies Inc. 0.14% 330,317 $23.8M Add +4.8%
CME Cme Group Inc. 0.14% 80,296 $23.7M No change
ENB Enbridge Inc. 0.14% 437,561 $23.6M No change
COF Capital One Financial Corp. 0.14% 129,282 $23.6M No change
QCOM Qualcomm Inc. 0.14% 180,771 $23.3M No change
BKNG Booking Holdings Inc. 0.14% 5,524 $23.3M No change
CB Chubb Ltd. 0.14% 70,821 $23.1M No change
SHOP Shopify Inc. Class A 0.13% 191,408 $22.6M No change
GLW Corning Inc. 0.13% 162,332 $22.1M Reduce -14.7%
MRSH Marsh & McLennan Cos 0.13% 127,104 $22.0M No change
EOG EOG Resources Inc. 0.13% 152,392 $22.0M No change
CMCSA Comcast Corp. Class A 0.13% 766,294 $22.0M No change
PGR Progressive Corp. 0.13% 110,044 $21.8M No change
FCX Freeport-McMoran Inc. 0.12% 359,367 $21.1M No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.12% 177,490 $21.1M No change
LOW Lowe's Cos Inc. 0.12% 88,163 $20.8M No change
MDT Medtronic PLC 0.12% 238,151 $20.6M Add +9.2%
WDC Western Digital Corp. 0.12% 76,100 $20.6M No change
HWM Howmet Aerospace Inc. 0.12% 89,054 $20.5M Add +3.5%
FANG Diamondback Energy Inc. 0.12% 101,899 $20.2M No change
SLB SLB Ltd. filed as SLB LIMITED 0.12% 391,652 $20.1M No change
MCK McKesson Corp. 0.12% 22,753 $19.7M Add +7.1%
VRTX Vertex Pharmaceuticals Inc. 0.11% 43,626 $19.5M Add +7.4%
TMUS T-Mobile US Inc. 0.11% 92,617 $19.5M No change
CMI Cummins Inc. 0.11% 36,130 $19.4M No change
DHR Danaher Corp. 0.11% 102,226 $19.4M No change
BMO Bank of Montreal filed as BANK MONTREAL MEDIUM 0.11% 143,329 $19.4M No change
TT Trane Technologies PLC 0.11% 46,410 $19.3M No change
HLT Hilton Worldwide Holdings Inc. 0.11% 63,370 $19.3M No change
MJSC Mufg Japan S Cap Active ETF 0.11% 355,000 $19.3M No change
ICE Intercontinental Exchange Inc. 0.11% 122,001 $19.2M No change
KSTR Kraneshares China Technology 0.11% 1,040,631 $19.0M New
ACN Accenture PLC Class A 0.11% 95,386 $18.9M Reduce -9.5%
JCI Johnson Controls Internation 0.11% 144,006 $18.9M Reduce -6.2%
WM Waste Management Inc. 0.11% 81,830 $18.8M Reduce -4.7%
EQIX Equinix Inc. 0.11% 19,053 $18.7M No change
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C 0.11% 269,856 $18.7M No change
OXY Occidental Petroleum Corp. 0.11% 284,800 $18.5M No change
PANW Palo Alto Networks Inc. 0.11% 115,176 $18.5M No change
ECL Ecolab Inc. 0.11% 68,940 $18.3M No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.11% 193,811 $18.3M No change
VRT Vertiv Holdings Co. Class A 0.11% 72,900 $18.3M No change
MCO Moody's Corp. 0.11% 41,866 $18.3M No change
BN Brookfield Corp. 0.11% 451,819 $18.3M No change
CL Colgate-Palmolive Co. 0.11% 211,917 $18.1M No change
WMB Williams Cos Inc. 0.10% 244,200 $17.8M No change
NOW ServiceNow Inc. 0.10% 169,415 $17.7M Reduce -3.4%
MDLZ Mondelez International Inc. Class A 0.10% 307,165 $17.7M No change
INTU Intuit Inc. 0.10% 40,858 $17.7M Reduce -7.5%
SYK Stryker Corp. 0.10% 53,610 $17.6M No change
AMT American Tower Corp. 0.10% 101,906 $17.6M No change
BSX Boston Scientific Corp. 0.10% 280,181 $17.6M No change
ED Consolidated Edison Inc. 0.10% 154,915 $17.5M Add +10.7%
PWR Quanta Services Inc. 0.10% 31,920 $17.5M Add +2.6%
MAR Marriott International Class A 0.10% 53,336 $17.4M No change
PNC PNC Financial Services Group 0.10% 83,634 $17.4M No change
TEL Te Connectivity PLC 0.10% 83,135 $17.4M No change
DVN Devon Energy Corp. 0.10% 345,070 $17.4M No change
STX Seagate Technology Holdings 0.10% 44,100 $17.3M Reduce -6.4%
SBUX Starbucks Corp. 0.10% 190,842 $17.1M No change
PCAR Paccar Inc. 0.10% 146,843 $17.0M Add +7.3%
FNV Franco-Nevada Corp. 0.10% 68,600 $16.9M No change
BX Blackstone Inc. 0.10% 146,100 $16.8M No change
EMR Emerson Electric Co. 0.10% 127,095 $16.7M No change
USB US Bancorp 0.10% 318,020 $16.5M No change
TDG Transdigm Group Inc. 0.10% 14,260 $16.5M No change
OKE Oneok Inc. 0.10% 181,662 $16.4M No change
DOV Dover Corp. 0.10% 78,688 $16.4M Add +47.9%
CP Canadian Pacific Kansas City 0.10% 208,909 $16.4M Add +45.2%
KEYS Keysight Technologies Inc. 0.10% 57,900 $16.3M No change
ADP Automatic Data Processing 0.10% 80,423 $16.3M No change
CTVA Corteva Inc. 0.09% 192,276 $16.1M No change
CSX CSX Corp. 0.09% 388,464 $15.9M No change
NDAQ Nasdaq Inc. 0.09% 187,376 $15.9M No change
TRV The Travelers Cos Inc. 0.09% 53,447 $15.6M No change
CRWD CrowdStrike Holdings Inc. Class A 0.09% 39,635 $15.5M No change
SPG Simon Property Group Inc. 0.09% 82,849 $15.5M No change
AME Ametek Inc. 0.09% 70,875 $15.2M No change
BKR Baker Hughes Co. 0.09% 248,729 $15.2M No change
EXC Exelon Corp. 0.09% 307,315 $15.1M Add +3.4%
MMM 3M Co. 0.09% 103,015 $15.0M No change
REG Regency Centers Corp. 0.09% 197,737 $15.0M No change
GM General Motors Co. 0.09% 200,403 $14.9M No change
TFC Truist Financial Corp. 0.09% 324,580 $14.9M No change
AON Aon PLC Class A 0.09% 46,100 $14.9M No change
SRE Sempra 0.09% 150,500 $14.6M Reduce -3.2%
SNPS Synopsys Inc. 0.09% 36,815 $14.6M No change
CEG Constellation Energy 0.08% 51,797 $14.5M No change
CTRA Coterra Energy Inc. 0.08% 410,191 $14.4M No change
CNI Canadian Natl Railway Co. 0.08% 140,446 $14.4M Add +47.1%
PPG PPG Industries Inc. 0.08% 134,286 $14.4M No change
KIM Kimco Realty Corp. 0.08% 637,793 $14.3M No change
KMI Kinder Morgan Inc. 0.08% 427,103 $14.3M No change
APP AppLovin Corp. Class A 0.08% 35,600 $14.2M No change
LNG Cheniere Energy Inc. 0.08% 49,800 $14.1M No change
ORLY O'reilly Automotive Inc. 0.08% 152,720 $14.1M No change
RCL Royal Caribbean Cruises Ltd. 0.08% 50,954 $14.0M Add +13.3%
SHW The Sherwin-Williams Co. 0.08% 43,693 $14.0M No change
REGN Regeneron Pharmaceuticals 0.08% 18,088 $14.0M Add +5.8%
COR Cencora Inc. 0.08% 44,425 $14.0M Add +9.9%
DLR Digital Realty Trust Inc. 0.08% 76,883 $13.9M No change
RSG Republic Services Inc. 0.08% 63,178 $13.8M Reduce -6.0%
MFC Manulife Financial Corp. 0.08% 400,339 $13.7M No change
NSC Norfolk Southern Corp. 0.08% 47,630 $13.7M No change
AFL Aflac Inc. 0.08% 124,191 $13.6M No change
CVS CVS Health Corp. 0.08% 189,073 $13.6M Reduce -5.0%
TRP TC Energy Corp. 0.08% 215,100 $13.4M No change
CDNS Cadence Design SYS Inc. 0.08% 47,949 $13.3M No change
MRVL Marvell Technology Inc. 0.08% 133,588 $13.2M Reduce -15.8%
VTR Ventas Inc. 0.08% 160,968 $13.2M No change
CI The Cigna Group 0.08% 48,542 $12.9M Add +14.1%
MELI MercadoLibre Inc. 0.08% 7,421 $12.8M No change
CCJ Cameco Corp. 0.07% 117,800 $12.8M No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.07% 215,400 $12.7M No change
ALL Allstate Corp. 0.07% 61,200 $12.7M No change
AVB Avalonbay Communities Inc. 0.07% 77,161 $12.6M No change
IR Ingersoll-Rand Inc. 0.07% 156,517 $12.5M No change
MSI Motorola Solutions Inc. 0.07% 28,801 $12.5M Reduce -12.2%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.07% 57,550 $12.5M No change
TGT Target Corp. 0.07% 100,480 $12.2M No change
NET Cloudflare Inc. Class A 0.07% 58,480 $12.1M No change
FISV Fiserv Inc. 0.07% 216,131 $12.1M No change
ELV Elevance Health Inc. 0.07% 40,882 $12.0M Add +2.5%
DD Dupont DE Nemours Inc. 0.07% 260,639 $11.9M No change
YUM Yum! Brands Inc. 0.07% 76,753 $11.9M No change
CAH Cardinal Health Inc. 0.07% 56,400 $11.9M No change
SCCO Southern Copper Corp. 0.07% 69,019 $11.9M Add +0.8%
KKR KKR & Co. Inc. 0.07% 128,327 $11.9M No change
UPS United Parcel Service Class B 0.07% 119,970 $11.8M Add +10.1%
ADBE Adobe Inc. 0.07% 48,526 $11.8M Reduce -30.0%
WBD Warner Bros Discovery Inc. 0.07% 429,300 $11.8M No change
CTAS Cintas Corp. 0.07% 69,656 $11.8M No change
CRH CRH PLC 0.07% 110,900 $11.7M No change
NXPI NXP Semiconductors NV 0.07% 59,214 $11.7M No change
OTIS Otis Worldwide Corp. 0.07% 150,642 $11.6M No change
FTNT Fortinet Inc. 0.07% 140,650 $11.5M No change
ADSK Autodesk Inc. 0.07% 47,895 $11.5M No change
BDX Becton Dickinson and Co. 0.07% 72,921 $11.5M Add +15.9%
VRSK Verisk Analytics Inc. 0.07% 60,300 $11.4M No change
APO Apollo Global Management Inc. 0.07% 102,301 $11.4M No change
GIS General Mills Inc. 0.07% 303,272 $11.3M No change
KHC The Kraft Heinz Co. 0.07% 495,900 $11.2M No change
CMG Chipotle Mexican Grill Inc. 0.07% 346,602 $11.1M Add +13.1%
CARR Carrier Global Corp. 0.07% 196,895 $11.1M Add +1.6%
EBAY eBay Inc. 0.06% 121,400 $11.0M No change
XYL Xylem Inc. 0.06% 92,200 $11.0M Reduce -4.2%
WTW Willis Towers Watson PLC 0.06% 37,900 $11.0M No change
ABNB Airbnb Inc. Class A 0.06% 86,805 $11.0M No change
AZO AutoZone Inc. 0.06% 3,203 $10.8M No change
AIG American International Group 0.06% 141,330 $10.6M No change
F Ford Motor Co. filed as FORD MTR CO 0.06% 919,072 $10.6M No change
MET Metlife Inc. 0.06% 148,956 $10.5M No change
SYY Sysco Corp. 0.06% 146,707 $10.5M No change
AMCR Amcor PLC 0.06% 256,660 $10.2M No change
DASH DoorDash Inc. Class A 0.06% 67,400 $10.1M No change
TTWO Take-Two Interactive Softwre 0.06% 50,400 $10.0M No change
KDP Keurig Dr Pepper Inc. 0.06% 368,626 $9.7M No change
AU Anglogold Ashanti PLC 0.06% 99,500 $9.7M No change
NKE Nike Inc. Class B 0.06% 182,995 $9.7M Reduce -17.9%
HOOD Robinhood Markets Inc. Class A 0.06% 138,900 $9.6M No change
DOC Healthpeak Properties Inc. 0.06% 585,700 $9.6M No change
CBRE CBRE Group Inc. Class A 0.06% 71,000 $9.6M No change
KMB Kimberly-Clark Corp. 0.06% 99,516 $9.6M No change
PYPL PayPal Holdings Inc. 0.06% 209,229 $9.5M No change
OMC Omnicom Group 0.06% 125,300 $9.4M No change
EW Edwards Lifesciences Corp. 0.05% 115,858 $9.3M Reduce -14.7%
CTSH Cognizant Tech Solutions-A 0.05% 151,011 $9.3M No change
RCI Rogers Communications Inc. Class B 0.05% 234,900 $9.0M No change
XYZ Block Inc. 0.05% 149,525 $9.0M No change
URI United Rentals Inc. 0.05% 12,235 $8.9M No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.05% 86,938 $8.9M No change
HCA HCA Healthcare Inc. 0.05% 18,563 $8.8M Reduce -32.6%
PTC PTC Inc. 0.05% 61,400 $8.7M No change
J Jacobs Solutions Inc. 0.05% 66,800 $8.5M Reduce -23.0%
STN Stantec Inc. 0.05% 98,300 $8.5M No change
SNOW Snowflake Inc. 0.05% 55,876 $8.4M No change
TRMB Trimble Inc. 0.05% 127,700 $8.3M No change
BR Broadridge Financial Solutio 0.05% 50,900 $8.3M Reduce -22.8%
IQV Iqvia Holdings Inc. 0.05% 48,050 $8.2M Reduce -9.4%
SPOT Spotify Technology SA 0.05% 16,600 $8.0M No change
GEHC GE Healthcare Technology 0.05% 112,500 $8.0M No change
DELL Dell Technologies -C 0.05% 47,500 $7.8M Reduce -29.9%
HEI Heico Corp. 0.05% 28,400 $7.8M No change
BABA Alibaba Group Holding-SP ADR 0.05% 61,605 $7.7M New
A Agilent Technologies Inc. 0.04% 67,371 $7.7M No change
ACM Aecom 0.04% 88,700 $7.5M Reduce -10.1%
AXON Axon Enterprise Inc. 0.04% 17,630 $7.5M Reduce -28.4%
CLS Celestica Inc. 0.04% 26,600 $7.5M No change
DB Deutsche Bank AG-Registered 0.04% 256,900 $7.4M No change
DDOG Datadog Inc. Class A 0.04% 60,300 $7.1M No change
ALNY Alnylam Pharmaceuticals Inc. 0.04% 21,100 $7.0M Reduce -19.2%
CCEP Coca-Cola Europacific Partne 0.04% 75,200 $6.8M No change
COIN Coinbase Global Inc. Class A 0.04% 38,600 $6.7M No change
GIB Cgi Inc. 0.04% 89,600 $6.5M Reduce -30.0%
RBLX Roblox Corp. Class A 0.04% 109,000 $6.2M No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.04% 424,600 $6.1M No change
ARGT Global X MSCI Argentina ETF 0.04% 64,599 $6.0M No change
VEEV Veeva Systems Inc. Class A 0.04% 34,200 $6.0M Reduce -10.5%
TRI Thomson Reuters Corp. 0.03% 63,706 $5.7M No change
FLUT Flutter Entertainment PLC-Di 0.03% 55,000 $5.6M Add +37.5%
ONON On Holding AG Class A filed as ON HLDG AG 0.03% 160,000 $5.4M New
MSTR Strategy Inc. 0.03% 42,880 $5.4M No change
WDAY Workday Inc. Class A 0.03% 34,669 $4.5M Reduce -30.0%
HPQ HP Inc. 0.03% 227,547 $4.4M Reduce -30.1%
PDD PDD Holdings Inc. 0.02% 37,500 $3.8M No change
HEI.A Heico Corp. Class A 0.02% 17,475 $3.7M Add +52.3%
ARGX Argenx SE - ADR 0.02% 5,000 $3.7M Add +25.0%
SE Sea Ltd.-ADR 0.02% 44,000 $3.6M No change
SMCI Super Micro Computer Inc. 0.02% 147,350 $3.4M No change
AS Amer Sports Inc. 0.02% 100,000 $3.3M New
RACE Ferrari NV 0.02% 8,700 $2.9M No change
WAT Waters Corp. 0.02% 9,869 $2.9M New
DECK Deckers Outdoor Corp. 0.01% 25,000 $2.5M New
PRU Prudential Financial Inc. 0.01% 11,800 $1.2M No change
VSNT Versant Media Group Inc. 0.01% 30,651 $1.1M No change
AMP Ameriprise Financial Inc. 0.01% 2,500 $1.1M No change
ARES Ares Management Corp. Class A 0.00% 7,200 $786K No change
FIS Fidelity National Info Serv 0.00% 12,200 $572K No change

Portfolio Sells Q4 2025 → Q1 2026
KLMN Invesco MSCI N Amr Climt ETF Reduce -41.2% 8.78% −7.40
VOO Vanguard S&P 500 ETF Sold out 0.00% −4.58
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −1.98
NVDA Nvidia Corp. Reduce -2.7% 4.00% −0.53
FALN iShares Fallen Angels ETF Sold out 0.00% −0.33
AVGO Broadcom Inc. Reduce -3.3% 1.13% −0.22
LLY Eli Lilly & Co. Reduce -4.1% 0.64% −0.16
ORCL Oracle Corp. Reduce -11.8% 0.19% −0.11
CRM Salesforce Inc. Reduce -5.8% 0.16% −0.09
ADBE Adobe Inc. Reduce -30.0% 0.07% −0.08
INTU Intuit Inc. Reduce -7.5% 0.10% −0.07
IBM Intl Business Machines Corp. Reduce -5.0% 0.19% −0.06
ACN Accenture PLC Class A Reduce -9.5% 0.11% −0.06
NOW ServiceNow Inc. Reduce -3.4% 0.10% −0.06
GS Goldman Sachs Group Inc. Reduce -8.3% 0.27% −0.05
AXON Axon Enterprise Inc. Reduce -28.4% 0.04% −0.04
BR Broadridge Financial Solutio Reduce -22.8% 0.05% −0.04
WDAY Workday Inc. Class A Reduce -30.0% 0.03% −0.04
GIB Cgi Inc. Reduce -30.0% 0.04% −0.03
HD Home Depot Inc. Reduce -3.2% 0.29% −0.03
NKE Nike Inc. Class B Reduce -17.9% 0.06% −0.03
CSCO Cisco Systems Inc. Reduce -6.8% 0.28% −0.03
HCA HCA Healthcare Inc. Reduce -32.6% 0.05% −0.03
IQV Iqvia Holdings Inc. Reduce -9.4% 0.05% −0.02
MCD McDonald's Corp. Reduce -9.3% 0.20% −0.02
ALNY Alnylam Pharmaceuticals Inc. Reduce -19.2% 0.04% −0.02
J Jacobs Solutions Inc. Reduce -23.0% 0.05% −0.02
HPQ HP Inc. Reduce -30.1% 0.03% −0.02
VEEV Veeva Systems Inc. Class A Reduce -10.5% 0.04% −0.02
CVS CVS Health Corp. Reduce -5.0% 0.08% −0.02
EW Edwards Lifesciences Corp. Reduce -14.7% 0.05% −0.02
TJX TJX Companies Inc. Reduce -9.7% 0.16% −0.02
XYL Xylem Inc. Reduce -4.2% 0.06% −0.01
ACM Aecom Reduce -10.1% 0.04% −0.01
NFLX Netflix Inc. Reduce -1.9% 0.35% −0.01
DXCM Dexcom Inc. Sold out 0.00% −0.01
DELL Dell Technologies -C Reduce -29.9% 0.05% −0.01
RSG Republic Services Inc. Reduce -6.0% 0.08% −0.00
TXN Texas Instruments Inc. Reduce -10.4% 0.15% −0.00
MRVL Marvell Technology Inc. Reduce -15.8% 0.08% −0.00
WM Waste Management Inc. Reduce -4.7% 0.11% −0.00
MSI Motorola Solutions Inc. Reduce -12.2% 0.07% −0.00
JCI Johnson Controls Internation Reduce -6.2% 0.11% −0.00
ADI Analog Devices Inc. Reduce -11.0% 0.15% +0.00
SRE Sempra Reduce -3.2% 0.09% +0.00
NEE Nextera Energy Inc. Reduce -1.5% 0.18% +0.02
STX Seagate Technology Holdings Reduce -6.4% 0.10% +0.02
GLW Corning Inc. Reduce -14.7% 0.13% +0.03
COST Costco Wholesale Corp. Reduce -2.3% 0.37% +0.03
WMT Walmart Inc. Reduce -0.4% 0.48% +0.04

Portfolio Buys Q4 2025 → Q1 2026
IGV iShares Expanded Tech-Softwa New 9.56% +9.56
XLE SS Energy Select Sector New 5.05% +5.05
KWEB Kranesh Csi China Internet New 1.48% +1.48
QQQ Invesco QQQ Trust Series 1 New 1.35% +1.35
EMCS Xtracke MSCI Emer Ms ETF-Usd Add +16.8% 4.49% +0.69
EWZ iShares MSCI Brazil ETF New 0.41% +0.41
ASHR Xtrackers Harvest Csi 300 CH New 0.33% +0.33
ECH iShares MSCI Chile ETF New 0.30% +0.30
EWY iShares MSCI South Korea ETF New 0.18% +0.18
KSTR Kraneshares China Technology New 0.11% +0.11
KLAC KLA Corp. Add +26.1% 0.27% +0.09
AMAT Applied Materials Inc. Add +6.1% 0.31% +0.08
EBND State Street SPDR Bloomberg Add +100.0% 0.17% +0.08
JNJ Johnson & Johnson Add +1.3% 0.55% +0.08
LRCX Lam Research Corp. Add +4.3% 0.30% +0.06
GEV GE Vernova Inc. Add +3.4% 0.23% +0.06
UNP Union Pacific Corp. Add +45.9% 0.15% +0.05
BABA Alibaba Group Holding-SP ADR New 0.05% +0.05
MRK Merck & Co. Inc. Add +2.5% 0.29% +0.03
DOV Dover Corp. Add +47.9% 0.10% +0.03
CP Canadian Pacific Kansas City Add +45.2% 0.10% +0.03
ONON On Holding AG Class A New 0.03% +0.03
CNI Canadian Natl Railway Co. Add +47.1% 0.08% +0.03
INTC Intel Corp. Add +0.7% 0.18% +0.03
BMY Bristol-Myers Squibb Co. Add +11.3% 0.14% +0.02
PFE Pfizer Inc. Add +6.2% 0.17% +0.02
PWR Quanta Services Inc. Add +2.6% 0.10% +0.02
GILD Gilead Sciences Inc. Add +5.1% 0.17% +0.02
AMGN Amgen Inc. Add +7.9% 0.20% +0.02
AS Amer Sports Inc. New 0.02% +0.02
ED Consolidated Edison Inc. Add +10.7% 0.10% +0.02
WAT Waters Corp. New 0.02% +0.02
DECK Deckers Outdoor Corp. New 0.01% +0.01
HWM Howmet Aerospace Inc. Add +3.5% 0.12% +0.01
SCCO Southern Copper Corp. Add +0.8% 0.07% +0.01
EXC Exelon Corp. Add +3.4% 0.09% +0.01
MCK McKesson Corp. Add +7.1% 0.12% +0.01
PCAR Paccar Inc. Add +7.3% 0.10% +0.01
RCL Royal Caribbean Cruises Ltd. Add +13.3% 0.08% +0.01
CI The Cigna Group Add +14.1% 0.08% +0.01
HEI.A Heico Corp. Class A Add +52.3% 0.02% +0.00
UPS United Parcel Service Class B Add +10.1% 0.07% +0.00
CARR Carrier Global Corp. Add +1.6% 0.07% +0.00
VRTX Vertex Pharmaceuticals Inc. Add +7.4% 0.11% +0.00
REGN Regeneron Pharmaceuticals Add +5.8% 0.08% +0.00
ARGX Argenx SE - ADR Add +25.0% 0.02% +0.00
COR Cencora Inc. Add +9.9% 0.08% −0.00
CMG Chipotle Mexican Grill Inc. Add +13.1% 0.07% −0.00
MDT Medtronic PLC Add +9.2% 0.12% −0.01
BDX Becton Dickinson and Co. Add +15.9% 0.07% −0.01

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