Institutional Manager · CIK 0001540880
FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND
STOCKHOLM, V7 · File #028-14940
Latest AUM
$11.94B
Positions
499
Top-10 Concentration
56.2%
Filings
8
Portfolio Value Over Time
2023-12
2024-03
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | ISHARES INC | 46434G103 | +3,090,192 | +$207.7M | $0 |
| ADD | NETFLIX INC | NFLX | +1,030,384 | +$96.6M | +$10.7M |
| NEW | MILLICOM INTL CELLULAR S A | L6388F110 | +1,000,000 | +$55.4M | $0 |
| REDUCE | NVIDIA CORPORATION | NVDA | -200,400 | -$37.4M | +$821.9M |
| REDUCE | GE AEROSPACE | 369604301 | -109,640 | -$33.8M | +$83.3M |
| REDUCE | APPLE INC | AAPL | -122,600 | -$33.3M | +$722.7M |
| ADD | SERVICENOW INC | NOW | +189,074 | +$29.0M | +$7.1M |
| NEW | WELLTOWER INC | WELL | +148,420 | +$27.5M | $0 |
| REDUCE | ALPHABET INC | GOOG | -77,000 | -$24.1M | +$342.2M |
| REDUCE | ALPHABET INC | GOOG | -73,700 | -$23.1M | +$301.7M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025499 pos · $11.94B
- 13F HOLDINGS REPORTQ/E Sep 2025465 pos · $11.6M
- 13F HOLDINGS REPORTQ/E Jun 2025494 pos · $10.8M
- 13F HOLDINGS REPORTQ/E Mar 2025527 pos · $8.3M
- 13F HOLDINGS REPORTQ/E Dec 2024531 pos · $9.9M
- 13F HOLDINGS REPORTQ/E Sep 2024527 pos · $9.8M
- 13F HOLDINGS REPORTQ/E Mar 2024535 pos · $9.0M
- 13F HOLDINGS REPORTQ/E Dec 2023548 pos · $7.54B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 4,211,049 | $785.4M | 11.03% |
| 2 | APPLE INC | AAPL | 2,538,148 | $690.0M | 9.69% |
| 3 | MICROSOFT CORP | MSFT | 1,267,509 | $613.0M | 8.61% |
| 4 | AMAZON COM INC | AMZN | 1,508,175 | $348.1M | 4.89% |
| 5 | ALPHABET INC | GOOG | 1,017,054 | $318.3M | 4.47% |
| 6 | META PLATFORMS INC | META | 429,787 | $283.7M | 3.99% |
| 7 | ALPHABET INC | GOOG | 888,585 | $278.8M | 3.92% |
| 8 | BROADCOM INC | AVGO | 702,723 | $243.2M | 3.42% |
| 9 | ELI LILLY & CO | LLY | 214,536 | $230.6M | 3.24% |
| 10 | ISHARES INC | 46434G103 | 3,090,192 | $207.7M | 2.92% |
| 11 | VISA INC | V | 537,177 | $188.4M | 2.65% |
| 12 | JOHNSON & JOHNSON | JNJ | 796,200 | $164.8M | 2.31% |
| 13 | JPMORGAN CHASE & CO. | VYLD | 438,187 | $141.2M | 1.98% |
| 14 | MASTERCARD INCORPORATED | MA | 228,070 | $130.2M | 1.83% |
| 15 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 253,899 | $127.6M | 1.79% |
| 16 | WALMART INC | WMT | 1,098,571 | $122.4M | 1.72% |
| 17 | NETFLIX INC | NFLX | 1,145,670 | $107.4M | 1.51% |
| 18 | CISCO SYS INC | CSCO | 1,373,517 | $105.8M | 1.49% |
| 19 | PROCTER AND GAMBLE CO | 742718109 | 736,378 | $105.5M | 1.48% |
| 20 | COSTCO WHSL CORP NEW | 22160K105 | 114,416 | $98.7M | 1.39% |