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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Varma Mutual Pension Insurance Co

Quarter ended Q4 2024 · Filed February 7, 2025 · Accession 0001140361-25-003517

Total Value
$13.17B
Positions
322
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (322)

#IssuerTicker / CUSIPSharesValue% of Filing
1INVESCO EXCH TRADED FD TR IIIVZ96,708,594$2.33B17.68%
2INVESCO EXCH TRADED FD TR IIIVZ64,298,247$1.68B12.73%
3APPLE INCAAPL2,071,383$518.7M3.94%
4NVIDIA CORPORATIONNVDA3,412,266$458.2M3.48%
5DBX ETF TR23305122616,000,000$418.4M3.18%
6MICROSOFT CORPMSFT983,776$414.7M3.15%
7BLACKROCK ETF TRUSTBLK4,814,000$308.3M2.34%
8AMAZON COM INCAMZN1,325,416$290.8M2.21%
9ALPHABET INCGOOG1,345,699$254.7M1.93%
10VANGUARD SCOTTSDALE FDS92206C8702,700,000$216.7M1.65%
11META PLATFORMS INCMETA301,094$176.3M1.34%
12TESLA INCTSLA407,026$164.4M1.25%
13BROADCOM INCAVGO649,230$150.5M1.14%
14VANGUARD WHITEHALL FDS9219468852,050,000$129.5M0.98%
15VANGUARD SCOTTSDALE FDS92206C8131,600,000$119.6M0.91%
16ISHARES TR4642875151,016,162$101.7M0.77%
17JPMORGAN CHASE & CO.VYLD420,711$100.8M0.77%
18VANECK ETF TRUST92189H3004,100,000$94.8M0.72%
19ELI LILLY & COLLY120,468$93.0M0.71%
20VISA INCV257,741$81.5M0.62%
21TAIWAN SEMICONDUCTOR MFG LTD874039100372,400$73.5M0.56%
22EXXON MOBIL CORPXOM644,203$69.3M0.53%
23VANGUARD WORLD FD9219106911,100,000$68.2M0.52%
24UNITEDHEALTH GROUP INCUNH134,662$68.1M0.52%
25MASTERCARD INCORPORATEDMA128,308$67.6M0.51%
26PROCTER AND GAMBLE CO742718109358,806$60.2M0.46%
27HOME DEPOT INCHD151,632$59.0M0.45%
28NETFLIX INCNFLX66,075$58.9M0.45%
29WALMART INCWMT651,609$58.9M0.45%
30COSTCO WHSL CORP NEW22160K10562,444$57.2M0.43%
31ORACLE CORPORCL-PD340,318$56.7M0.43%
32JOHNSON & JOHNSONJNJ359,056$51.9M0.39%
33SALESFORCE INCCRM154,528$51.7M0.39%
34BANK AMERICA CORP0605051041,061,224$46.6M0.35%
35ABBVIE INCABBV259,467$46.1M0.35%
36SERVICENOW INCNOW41,083$43.6M0.33%
37MERCK & CO INCMRK425,174$42.3M0.32%
38COCA COLA COKO677,843$42.2M0.32%
39ADOBE INCADBE89,426$39.8M0.30%
40CHEVRON CORP NEWCVX263,530$38.2M0.29%
41ALPHABET INCGOOG198,000$37.7M0.29%
42THERMO FISHER SCIENTIFIC INCTMO71,117$37.0M0.28%
43WELLS FARGO CO NEW949746101511,859$36.0M0.27%
44PEPSICO INCPEP230,095$35.0M0.27%
45MCDONALDS CORPMCD117,172$34.0M0.26%
46DISNEY WALT CO254687106299,744$33.4M0.25%
47CISCO SYS INCCSCO537,647$31.8M0.24%
48LINDE PLCLIN75,885$31.8M0.24%
49INTERNATIONAL BUSINESS MACHSINTR143,358$31.5M0.24%
50CATERPILLAR INCCAT84,356$30.6M0.23%
51INTUITIVE SURGICAL INCISRG58,053$30.3M0.23%
52ACCENTURE PLC IRELANDACN85,786$30.2M0.23%
53S&P GLOBAL INCSPGI60,207$30.0M0.23%
54GOLDMAN SACHS GROUP INCGSCE52,300$29.9M0.23%
55ADVANCED MICRO DEVICES INCAMD247,917$29.9M0.23%
56ROYAL BK CDA780087102248,029$29.9M0.23%
57ABBOTT LABSABLZF258,152$29.2M0.22%
58GE AEROSPACE369604301173,508$28.9M0.22%
59AT&T INCT-PC1,253,860$28.6M0.22%
60QUALCOMM INCQCOM178,871$27.5M0.21%
61BOSTON SCIENTIFIC CORPBSX307,481$27.5M0.21%
62AMERICAN EXPRESS COAXP91,835$27.3M0.21%
63VERIZON COMMUNICATIONS INCVZ675,009$27.0M0.21%
64ISHARES TR464288281300,000$26.7M0.20%
65BOOKING HOLDINGS INCBKNG5,335$26.5M0.20%
66INTUITINTU42,058$26.4M0.20%
67AMGEN INCAMGN98,459$25.7M0.19%
68MORGAN STANLEYMS-PQ202,712$25.5M0.19%
69EATON CORP PLCETN75,391$25.0M0.19%
70BLACKROCK INCBLK24,012$24.6M0.19%
71DANAHER CORPORATION235851102103,426$23.7M0.18%
72COMCAST CORP NEWCCZ623,594$23.4M0.18%
73PALANTIR TECHNOLOGIES INCPLTR308,500$23.3M0.18%
74CITIGROUP INCC-PR329,376$23.2M0.18%
75UNION PAC CORPUNP100,701$23.0M0.17%
76PFIZER INCPFE864,563$22.9M0.17%
77MARSH & MCLENNAN COS INC571748102107,304$22.8M0.17%
78TEXAS INSTRS INC882508104118,741$22.3M0.17%
79APPLIED MATLS INC038222105136,782$22.2M0.17%
80TJX COS INC NEW872540109180,683$21.8M0.17%
81ANALOG DEVICES INCADI101,859$21.6M0.16%
82LOWES COS INC54866110787,599$21.6M0.16%
83CONOCOPHILLIPSCOP217,252$21.5M0.16%
84BLACKSTONE INCBX124,000$21.4M0.16%
85PROGRESSIVE CORP74331510389,044$21.3M0.16%
86NEXTERA ENERGY INCNEE-PW294,793$21.1M0.16%
87SHOPIFY INCSHOP192,658$20.5M0.16%
88ALIBABA GROUP HLDG LTDBBAAY240,400$20.4M0.15%
89FISERV INCFISV98,531$20.2M0.15%
90GILEAD SCIENCES INCGILD217,015$20.0M0.15%
91ARISTA NETWORKS INCANET181,000$20.0M0.15%
92PROLOGIS INC.PLDGP188,046$19.9M0.15%
93PALO ALTO NETWORKS INCPANW109,176$19.9M0.15%
94LAM RESEARCH CORPLRCX274,730$19.8M0.15%
95PARKER-HANNIFIN CORPPH31,137$19.8M0.15%
96UBER TECHNOLOGIES INCUBER326,292$19.7M0.15%
97ENBRIDGE INCENNPF456,861$19.4M0.15%
98BRISTOL-MYERS SQUIBB COCELG-RI341,926$19.3M0.15%
99T-MOBILE US INCTMUSZ86,517$19.1M0.15%
100VERTEX PHARMACEUTICALS INCVRTX46,826$18.9M0.14%
101STRYKER CORPORATIONSYK52,210$18.8M0.14%
102SCHWAB CHARLES CORPSCHW-PJ252,981$18.7M0.14%
103STARBUCKS CORPSBUX202,410$18.5M0.14%
104CHUBB LIMITEDCB65,721$18.2M0.14%
105MARVELL TECHNOLOGY INCMRVL157,878$17.4M0.13%
106TRANE TECHNOLOGIES PLCTT47,211$17.4M0.13%
107EQUINIX INCEQIX18,453$17.4M0.13%
108FREEPORT-MCMORAN INCFCX452,567$17.2M0.13%
109AMPHENOL CORP NEW032095101247,539$17.2M0.13%
110TORONTO DOMINION BK ONTTORO322,998$17.2M0.13%
111HILTON WORLDWIDE HLDGS INCHLT68,636$17.0M0.13%
112MONDELEZ INTL INC609207105283,452$16.9M0.13%
113BROOKFIELD CORP11271J107294,213$16.9M0.13%
114MOODYS CORPMCO35,466$16.8M0.13%
115MEDTRONIC PLCMDT207,451$16.6M0.13%
116KKR & CO INCKKRT111,127$16.4M0.12%
117WELLTOWER INCWELL130,276$16.4M0.12%
118AMERICAN TOWER CORP NEW03027X10088,906$16.3M0.12%
119AUTOMATIC DATA PROCESSING INADP55,553$16.3M0.12%
120COLGATE PALMOLIVE COCL176,833$16.1M0.12%
121MCKESSON CORPMCK28,153$16.0M0.12%
122WASTE MGMT INC DEL94106L10979,259$16.0M0.12%
123ISHARES TR46429B598300,000$15.8M0.12%
124BANK MONTREAL QUE063671101162,729$15.8M0.12%
125CME GROUP INCCME67,896$15.8M0.12%
126GE VERNOVA INCGEV47,643$15.7M0.12%
127EOG RES INCEOG127,492$15.6M0.12%
128TRANSDIGM GROUP INCTDG12,320$15.6M0.12%
129AUTODESK INCADSK52,495$15.5M0.12%
130INTERCONTINENTAL EXCHANGE IN45866F104104,101$15.5M0.12%
131CHIPOTLE MEXICAN GRILL INCCMG257,100$15.5M0.12%
132NIKE INCNKE204,527$15.5M0.12%
133BANK NOVA SCOTIA HALIFAX064149107286,656$15.4M0.12%
134MARRIOTT INTL INC NEW57190320253,756$15.0M0.11%
135TE CONNECTIVITY PLCTEL103,945$14.9M0.11%
136CADENCE DESIGN SYSTEM INCCDNS49,349$14.8M0.11%
137BECTON DICKINSON & COBDX65,121$14.8M0.11%
138PAYPAL HLDGS INCPYPL171,829$14.7M0.11%
139MICRON TECHNOLOGY INCMU170,571$14.4M0.11%
140PACCAR INCPCAR137,983$14.4M0.11%
141SYNOPSYS INCSNPS29,565$14.3M0.11%
142ECOLAB INCECL61,140$14.3M0.11%
143SIMON PPTY GROUP INC NEW82880610982,849$14.3M0.11%
144EMERSON ELEC COEMR114,305$14.2M0.11%
145DOVER CORPDOV75,206$14.1M0.11%
146CROWDSTRIKE HLDGS INCCRWD41,215$14.1M0.11%
147PNC FINL SVCS GROUP INC69347510572,234$13.9M0.11%
148US BANCORP DELUSB-PS290,220$13.9M0.11%
149CANADIAN IMPERIAL BK COMMCNDIF217,411$13.7M0.10%
150CUMMINS INCCMI39,420$13.7M0.10%
151CAPITAL ONE FINL CORP14040H10577,036$13.7M0.10%
152DEERE & CODE32,407$13.7M0.10%
153PPG INDS INC693506107113,786$13.6M0.10%
154SHERWIN WILLIAMS COSHW39,793$13.5M0.10%
155AON PLCAON37,500$13.5M0.10%
156HOWMET AEROSPACE INCHWM122,524$13.4M0.10%
157CARRIER GLOBAL CORPORATIONCARR195,209$13.3M0.10%
158MOTOROLA SOLUTIONS INCMSI28,701$13.3M0.10%
159BANK NEW YORK MELLON CORP064058100171,390$13.2M0.10%
160MANULIFE FINL CORP56501R106428,839$13.2M0.10%
161ELEVANCE HEALTH INCELV35,582$13.1M0.10%
162APOLLO GLOBAL MGMT INC03769M10679,101$13.1M0.10%
163JOHNSON CTLS INTL PLCG51502105164,606$13.0M0.10%
1643M COMMM100,645$13.0M0.10%
165MERCADOLIBRE INCMELI7,615$12.9M0.10%
166AVALONBAY CMNTYS INCAWX58,261$12.8M0.10%
167THE CIGNA GROUP12552310046,242$12.8M0.10%
168IQVIA HLDGS INCIQV64,450$12.7M0.10%
169WILLIAMS COS INC969457100232,800$12.6M0.10%
170GENERAL MTRS CO37045V100236,488$12.6M0.10%
171OREILLY AUTOMOTIVE INC67103H10710,566$12.5M0.10%
172PUBLIC SVC ENTERPRISE GRP IN744573106148,137$12.5M0.10%
173REGENERON PHARMACEUTICALSREGN17,488$12.5M0.09%
174CINTAS CORPCTAS67,556$12.3M0.09%
175CONSTELLATION ENERGY CORPCEG54,897$12.3M0.09%
176SCHLUMBERGER LTDSLB319,252$12.2M0.09%
177ROPER TECHNOLOGIES INCROP23,534$12.2M0.09%
178ONEOK INC NEWOKE117,862$11.8M0.09%
179GALLAGHER ARTHUR J & CO36357610941,650$11.8M0.09%
180WORKDAY INCWDAY45,569$11.8M0.09%
181REPUBLIC SVCS INC76075910058,078$11.7M0.09%
182AMERICAN INTL GROUP INC026874784160,330$11.7M0.09%
183ZOETIS INCZTS70,958$11.6M0.09%
184DIGITAL RLTY TR INC25386810364,983$11.5M0.09%
185REALTY INCOME CORPO214,918$11.5M0.09%
186PRUDENTIAL FINL INCPUKPF96,839$11.5M0.09%
187TRUIST FINL CORP89832Q109263,880$11.4M0.09%
188CORNING INCGLW240,632$11.4M0.09%
189GENERAL MLS INC370334104178,145$11.4M0.09%
190REGENCY CTRS CORP758849103153,337$11.3M0.09%
191NORFOLK SOUTHN CORP65584410848,210$11.3M0.09%
192DIAMONDBACK ENERGY INCFANG68,699$11.3M0.09%
193KIMBERLY-CLARK CORPKMB85,824$11.2M0.09%
194FORTINET INCFTNT119,000$11.2M0.09%
195TRAVELERS COMPANIES INCTRV46,647$11.2M0.09%
196KINDER MORGAN INC DELEP-PC407,603$11.2M0.08%
197COGNIZANT TECHNOLOGY SOLUTIOCTSH145,211$11.2M0.08%
198SUN LIFE FINANCIAL INC.SUNFF186,764$11.1M0.08%
199APPLOVIN CORPAPP34,200$11.1M0.08%
200THOMSON REUTERS CORPTMSOF68,854$11.1M0.08%
201YUM BRANDS INCYUM82,190$11.0M0.08%
202NASDAQ INCNDAQ142,176$11.0M0.08%
203AMERIPRISE FINL INC03076C10620,562$10.9M0.08%
204ARES MANAGEMENT CORPORATIONARES-PB61,400$10.9M0.08%
205TARGET CORPTGT80,388$10.9M0.08%
206ROSS STORES INCROST71,530$10.8M0.08%
207CRH PLCCRH116,500$10.8M0.08%
208EQUITY RESIDENTIALEQR150,100$10.8M0.08%
209WHEATON PRECIOUS METALS CORPWPM190,558$10.7M0.08%
210COPART INCCPRT186,688$10.7M0.08%
211AIRBNB INCABNB81,209$10.7M0.08%
212OTIS WORLDWIDE CORPOTIS114,542$10.6M0.08%
213BAKER HUGHES COMPANYBKR258,529$10.6M0.08%
214AGNICO EAGLE MINES LTDAEM135,452$10.6M0.08%
215TC ENERGY CORPTRPRF227,000$10.6M0.08%
216KEURIG DR PEPPER INCKDP328,942$10.6M0.08%
217SYSCO CORPSYY137,886$10.5M0.08%
218CONSOLIDATED EDISON INCED118,015$10.5M0.08%
219INGERSOLL RAND INCIR116,064$10.5M0.08%
220CENCORA INCCOR46,525$10.5M0.08%
221EDWARDS LIFESCIENCES CORPEW140,758$10.4M0.08%
222CANADIAN PACIFIC KANSAS CITYCP143,109$10.4M0.08%
223EDISON INTL281020107129,147$10.3M0.08%
224SNOWFLAKE INCSNOW66,746$10.3M0.08%
225METLIFE INCMET-PF124,956$10.2M0.08%
226AIR PRODS & CHEMS INCAIIR35,143$10.2M0.08%
227DISCOVER FINL SVCS25470910858,821$10.2M0.08%
228KLA CORPKLAC16,064$10.1M0.08%
229AFLAC INCAFL97,591$10.1M0.08%
230KIMCO RLTY CORP49446R109430,793$10.1M0.08%
231CORTEVA INCCTVA177,076$10.1M0.08%
232GARTNER INCIT20,801$10.1M0.08%
233ROYAL CARIBBEAN GROUPV7780T10343,500$10.0M0.08%
234PEMBINA PIPELINE CORPPPLOF270,979$10.0M0.08%
235HESS CORPHESM75,038$10.0M0.08%
236BLOCK INCBSQKZ117,425$10.0M0.08%
237AGILENT TECHNOLOGIES INCA74,271$10.0M0.08%
238DUPONT DE NEMOURS INCDD129,739$9.9M0.08%
239QUANTA SVCS INC74762E10231,240$9.9M0.07%
240WABTEC92974010852,024$9.9M0.07%
241WEYERHAEUSER CO MTN BEWY349,342$9.8M0.07%
242EQUIFAX INCEFX38,464$9.8M0.07%
243HALLIBURTON COHAL359,403$9.8M0.07%
244CHENIERE ENERGY INCLNG45,400$9.8M0.07%
245ZIMMER BIOMET HOLDINGS INCZBH91,812$9.7M0.07%
246AXON ENTERPRISE INCAXON16,300$9.7M0.07%
247ALLSTATE CORPALL-PJ50,200$9.7M0.07%
248COTERRA ENERGY INCCTRA377,891$9.7M0.07%
249PAYCHEX INCPAYX68,753$9.6M0.07%
250AMETEK INCAME53,295$9.6M0.07%
251CHURCH & DWIGHT CO INCCHD91,322$9.6M0.07%
252DEVON ENERGY CORP NEW25179M103290,870$9.5M0.07%
253AUTOZONE INCAZO2,973$9.5M0.07%
254NEWMONT CORPNEMCL255,656$9.5M0.07%
255UNITED PARCEL SERVICE INCUPS75,370$9.5M0.07%
256VICI PPTYS INC925652109324,988$9.5M0.07%
257CBRE GROUP INCCBRE72,100$9.5M0.07%
258VENTAS INCVTR160,068$9.4M0.07%
259FLUTTER ENTMT PLCG3643J10836,400$9.4M0.07%
260PG&E CORPPCG-PX461,877$9.3M0.07%
261IRON MTN INC DEL46284V10188,538$9.3M0.07%
262PUBLIC STORAGE OPER COPSA-PS30,998$9.3M0.07%
263CANADIAN NATL RY CO13637510291,146$9.3M0.07%
264HERSHEY COHSY54,556$9.2M0.07%
265CSX CORPCSX285,764$9.2M0.07%
266FORD MTR CO345370860928,460$9.2M0.07%
267INTEL CORPINTC457,923$9.2M0.07%
268PHILLIPS 66PSX80,400$9.2M0.07%
269HP INCHPQ279,347$9.1M0.07%
270GRAINGER W W INC3848021048,638$9.1M0.07%
271HOST HOTELS & RESORTS INCHST511,300$9.0M0.07%
272KENVUE INCKVUE415,544$8.9M0.07%
273ILLINOIS TOOL WKS INC45230810934,934$8.9M0.07%
274AVERY DENNISON CORPAVY47,229$8.8M0.07%
275THE TRADE DESK INC88339J10575,160$8.8M0.07%
276FAIR ISAAC CORPFICO4,400$8.8M0.07%
277MICROSTRATEGY INCSTRK30,200$8.7M0.07%
278HEALTHPEAK PROPERTIES INCDOC429,950$8.7M0.07%
279FIDELITY NATL INFORMATION SV31620M106106,682$8.6M0.07%
280COINBASE GLOBAL INCCOIN34,700$8.6M0.07%
281ROCKWELL AUTOMATION INCROK30,000$8.6M0.07%
282DOORDASH INCDASH50,900$8.5M0.06%
283OMNICOM GROUP INCOMC98,974$8.5M0.06%
284EXELON CORPEXC224,815$8.5M0.06%
285AMERICAN WTR WKS CO INC NEW03042010367,942$8.5M0.06%
286INTERPUBLIC GROUP COS INCINTR300,200$8.4M0.06%
287D R HORTON INC23331A10959,898$8.4M0.06%
288JD.COM INCJDCMF241,300$8.4M0.06%
289GARMIN LTDGRMN40,500$8.4M0.06%
290VULCAN MATLS CO92916010932,009$8.2M0.06%
291UNITED RENTALS INCURI11,521$8.1M0.06%
292CARDINAL HEALTH INCCAH67,800$8.0M0.06%
293LENNAR CORPLEN-B56,612$7.7M0.06%
294HCA HEALTHCARE INCHCA25,663$7.7M0.06%
295PDD HOLDINGS INCPDD78,300$7.6M0.06%
296FERGUSON ENTERPRISES INCFERG43,301$7.5M0.06%
297CVS HEALTH CORPCVS167,373$7.5M0.06%
298MICROCHIP TECHNOLOGY INC.MCHPP129,234$7.4M0.06%
299NUCOR CORPNUE62,935$7.3M0.06%
300NXP SEMICONDUCTORS N VNXPI34,144$7.1M0.05%
301EVERSOURCE ENERGYES122,963$7.1M0.05%
302HEICO CORP NEWHEI-A36,950$6.9M0.05%
303FEDEX CORPFDX23,920$6.7M0.05%
304HEICO CORP NEWHEI-A28,300$6.7M0.05%
305SOUTHERN COPPER CORPSCCO65,700$6.0M0.05%
306RESTAURANT BRANDS INTL INC76131D10390,429$5.9M0.04%
307GE HEALTHCARE TECHNOLOGIES IGEHC70,600$5.5M0.04%
308FASTENAL COFAST75,800$5.5M0.04%
309GOLAR LNG LTDGLNG115,280$4.9M0.04%
310NU HLDGS LTDNU419,900$4.4M0.03%
311TRIP COM GROUP LTDTRPCF62,000$4.3M0.03%
312CARVANA COCVNA20,800$4.2M0.03%
313SPDR SER TR78464A391200,000$3.9M0.03%
314FERRARI N VRACE8,500$3.6M0.03%
315RESTAURANT BRANDS INTL INC76131D10343,000$2.8M0.02%
316BIOMARIN PHARMACEUTICAL INCBMRN40,000$2.6M0.02%
317DEXCOM INCDXCM27,000$2.1M0.02%
318INSULET CORPPODD6,000$1.6M0.01%
319ARGENX SEARGX2,500$1.5M0.01%
320HUMANA INCHUM5,000$1.3M0.01%
321BIOGEN INCBIIB7,000$1.1M0.01%
322ROGERS COMMUNICATIONS INCRCIAF0$00.00%