Fjarde Ap-Fonden /fourth Swedish National Pension Fund
STOCKHOLM, V7
$20.9bn in 525 US stocks at the end of 30 June 2026. The top 10 are 31.4% of the money. It changed about 10.2% of the portfolio this quarter.
Value
$20.9bn
Stocks
525
Top 10 share
31.4%
Turnover
10.2%
What changed this quarter
New
Bought for the first time this quarter.
- CarnivalCCL<0.1% of the fund
- MedlineMDLN<0.1% of the fund
- VersigentVGNT<0.1% of the fund
- Circle Internet GroupCRCL<0.1% of the fund
- DuPont de NemoursDD<0.1% of the fund
- Cirrus LogicCRUS<0.1% of the fund
Added
Bought more of a stock they already held.
- MicrosoftMSFT3.8% of the fund+3%
- Amazon.comAMZN2.9% of the fund+2%
- BroadcomAVGO2.5% of the fund+21%
- Micron TechnologyMU1.7% of the fund+5%
- Johnson & JohnsonJNJ1.5% of the fund+3%
- Applied MaterialsAMAT1.3% of the fund+13%
- Advanced Micro DevicesAMD1.2% of the fund+6%
- MerckMRK0.8% of the fund+6%
- TeslaTSLA0.7% of the fund+27%
- General ElectricGE0.7% of the fund+39%
- NetflixNFLX0.6% of the fund+2%
- PepsiCoPEP0.5% of the fund+10%
- LindeLIN0.5% of the fund+3%
- International Business MachinesIBM0.5% of the fund+5%
- TJX CompaniesTJX0.4% of the fund+4%
- Palo Alto NetworksPANW0.4% of the fund+4%
- McDonald'sMCD0.4% of the fund+6%
- Western DigitalWDC0.4% of the fund+49%
- Gilead SciencesGILD0.4% of the fund+43%
- GE VernovaGEV0.4% of the fund+4%
- Verizon CommunicationsVZ0.4% of the fund+4%
- Baker HughesBKR0.4% of the fund+22%
- ChubbCB0.4% of the fund+3%
- WelltowerWELL0.3% of the fund+31%
- CorningGLW0.3% of the fund+5%
Cut
Sold some of their stake.
- NvidiaNVDA6.3% of the fund-4%
- AlphabetGOOG2.2% of the fund-7%
- IsharesIEMG1.6% of the fund-39%
- Eli LillyLLY1.6% of the fund-20%
- VisaV1.4% of the fund-4%
- Lam ResearchLRCX1.2% of the fund-3%
- Cisco SystemsCSCO1.1% of the fund-8%
- CaterpillarCAT0.9% of the fund-7%
- MastercardMA0.9% of the fund-5%
- Costco WholesaleCOST0.8% of the fund-3%
- Coca-ColaKO0.8% of the fund-3%
- UnitedHealth GroupUNH0.5% of the fund-31%
- ProgressivePGR0.4% of the fund-3%
- Arista NetworksANET0.4% of the fund-3%
- Marvell TechnologyMRVL0.4% of the fund-5%
- Goldman Sachs GroupGS0.4% of the fund-2%
- QualcommQCOM0.3% of the fund-13%
- CitigroupC0.3% of the fund-5%
- Abbott LaboratoriesABT0.3% of the fund-24%
- FortinetFTNT0.3% of the fund-8%
- Colgate-PalmoliveCL0.2% of the fund-2%
- Intuitive SurgicalISRG0.2% of the fund-5%
- Uber TechnologiesUBER0.2% of the fund-28%
- AdobeADBE0.2% of the fund-6%
- Trane TechnologiesTT0.2% of the fund-9%
Sold out
Sold their entire stake.
- Southern CompanySO-100%
- NewmontNEM-100%
- Duke EnergyDUK-100%
- PaccarPCAR-100%
- Carnival-100%
- Essential UtilitiesWTRG-100%
- Air Products & ChemicalsAPD-100%
- Expeditors International of WashingtonEXPD-100%
- Atmos EnergyATO-100%
- TelusTU-100%
- FirstenergyFE-100%
- Polestar Automotive Holding UKPSNY-100%
- DuPont de NemoursDD-100%
- SolventumSOLV-100%
- Zebra TechnologiesZBRA-100%
- Hunt J B Transport ServicesJBHT-100%
- monday.comMNDY-100%
- NRG EnergyNRG-100%
- Global-E OnlineGLBE-100%
Holdings
- IsharesIEMG
- Share
- 1.6%
- Value
- $345m
- Shares
- 4,165,043
-39%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 6.3% | $1.3bn | 6,560,099 | -4% |
| AppleAAPL | 5.7% | $1.2bn | 4,147,208 | Held |
| MicrosoftMSFT | 3.8% | $792m | 2,123,559 | +3% |
| Amazon.comAMZN | 2.9% | $599m | 2,514,375 | +2% |
| AlphabetGOOGL | 2.8% | $585m | 1,637,434 | Held |
| BroadcomAVGO | 2.5% | $521m | 1,379,883 | +21% |
| AlphabetGOOG | 2.2% | $468m | 1,324,032 | -7% |
| Meta PlatformsMETA | 1.9% | $394m | 699,247 | Held |
| Micron TechnologyMU | 1.7% | $352m | 305,087 | +5% |
| IsharesIEMG | 1.6% | $345m | 4,165,043 | -39% |
| Eli LillyLLY | 1.6% | $329m | 274,422 | -20% |
| Johnson & JohnsonJNJ | 1.5% | $319m | 1,256,669 | +3% |
| VisaV | 1.4% | $286m | 833,530 | -4% |
| Applied MaterialsAMAT | 1.3% | $272m | 376,698 | +13% |
| Advanced Micro DevicesAMD | 1.2% | $255m | 438,633 | +6% |
| Lam ResearchLRCX | 1.2% | $246m | 568,010 | -3% |
| Cisco SystemsCSCO | 1.1% | $235m | 2,002,917 | -8% |
| JPMorgan ChaseJPM | 1.1% | $225m | 687,767 | Held |
| Berkshire HathawayBRK-B | 1.0% | $206m | 412,534 | Held |
| WalmartWMT | 0.9% | $198m | 1,746,421 | Held |
| CaterpillarCAT | 0.9% | $186m | 175,084 | -7% |
| MastercardMA | 0.9% | $180m | 349,732 | -5% |
| Procter & GamblePG | 0.8% | $171m | 1,167,628 | Held |
| KLAKLAC | 0.8% | $167m | 554,290 | Held |
| Costco WholesaleCOST | 0.8% | $166m | 176,966 | -3% |
| Coca-ColaKO | 0.8% | $162m | 1,993,456 | -3% |
| MerckMRK | 0.8% | $161m | 1,252,379 | +6% |
| IntelINTC | 0.7% | $155m | 1,111,634 | Held |
| TeslaTSLA | 0.7% | $142m | 337,648 | +27% |
| AbbVieABBV | 0.7% | $137m | 543,225 | Held |
| General ElectricGE | 0.7% | $136m | 364,204 | +39% |
| NetflixNFLX | 0.6% | $135m | 1,885,865 | +2% |
| AmphenolAPH | 0.6% | $118m | 671,539 | Held |
| PepsiCoPEP | 0.5% | $115m | 847,234 | +10% |
| UnitedHealth GroupUNH | 0.5% | $107m | 257,828 | -31% |
| Texas InstrumentsTXN | 0.5% | $105m | 353,731 | Held |
| LindeLIN | 0.5% | $105m | 201,607 | +3% |
| Bank of AmericaBAC | 0.5% | $99m | 1,730,530 | Held |
| International Business MachinesIBM | 0.5% | $96m | 342,321 | +5% |
| TJX CompaniesTJX | 0.4% | $94m | 617,918 | +4% |
| Home DepotHD | 0.4% | $92m | 259,760 | Held |
| Palo Alto NetworksPANW | 0.4% | $91m | 266,698 | +4% |
| McDonald'sMCD | 0.4% | $87m | 320,160 | +6% |
| Western DigitalWDC | 0.4% | $85m | 133,316 | +49% |
| Spotify TechnologySPOT | 0.4% | $85m | 185,000 | Held |
| Gilead SciencesGILD | 0.4% | $84m | 668,663 | +43% |
| GE VernovaGEV | 0.4% | $83m | 70,733 | +4% |
| Verizon CommunicationsVZ | 0.4% | $81m | 1,908,488 | +4% |
| ProgressivePGR | 0.4% | $79m | 361,870 | -3% |
| Baker HughesBKR | 0.4% | $78m | 1,412,480 | +22% |
| Arista NetworksANET | 0.4% | $78m | 460,434 | -3% |
| Marvell TechnologyMRVL | 0.4% | $77m | 259,447 | -5% |
| Goldman Sachs GroupGS | 0.4% | $77m | 76,205 | -2% |
| ChubbCB | 0.4% | $77m | 225,846 | +3% |
| Vertex PharmaceuticalsVRTX | 0.4% | $74m | 148,682 | Held |
| WelltowerWELL | 0.3% | $73m | 321,820 | +31% |
| AT&TT | 0.3% | $72m | 3,481,220 | Held |
| CorningGLW | 0.3% | $71m | 279,771 | +5% |
| QualcommQCOM | 0.3% | $71m | 382,006 | -13% |
| Wells Fargo & CompanyWFC | 0.3% | $70m | 844,329 | Held |
| OracleORCL | 0.3% | $69m | 471,142 | +2% |
| American ExpressAXP | 0.3% | $69m | 203,773 | +29% |
| Union PacificUNP | 0.3% | $67m | 247,176 | +14% |
| Palantir TechnologiesPLTR | 0.3% | $66m | 569,173 | Held |
| AmgenAMGN | 0.3% | $64m | 176,962 | +7% |
| Morgan StanleyMS | 0.3% | $63m | 303,415 | +2% |
| Seagate Technology HoldingsSTX | 0.3% | $63m | 65,428 | +21% |
| CitigroupC | 0.3% | $63m | 449,441 | -5% |
| CME GroupCME | 0.3% | $63m | 284,507 | +12% |
| Abbott LaboratoriesABT | 0.3% | $61m | 669,954 | -24% |
| Waste ManagementWM | 0.3% | $61m | 272,746 | +20% |
| MckessonMCK | 0.3% | $61m | 80,197 | +4% |
| Marsh & McLennan CompaniesMRSH | 0.3% | $60m | 359,381 | +8% |
| EatonETN | 0.3% | $58m | 137,105 | Held |
| T-Mobile USTMUS | 0.3% | $58m | 346,454 | +13% |
| Bristol-Myers SquibbBMY | 0.3% | $57m | 993,206 | +67% |
| Monster BeverageMNST | 0.3% | $55m | 570,891 | Held |
| CrowdStrike HoldingsCRWD | 0.3% | $55m | 71,477 | +2% |
| FortinetFTNT | 0.3% | $54m | 348,930 | -8% |
| Analog DevicesADI | 0.3% | $53m | 134,506 | +8% |
| CencoraCOR | 0.3% | $53m | 186,812 | Held |
| Travelers CompaniesTRV | 0.2% | $52m | 158,161 | +17% |
| Colgate-PalmoliveCL | 0.2% | $50m | 549,324 | -2% |
| AppLovinAPP | 0.2% | $49m | 95,380 | +57% |
| Intuitive SurgicalISRG | 0.2% | $49m | 122,499 | -5% |
| Uber TechnologiesUBER | 0.2% | $48m | 658,783 | -28% |
| Thermo Fisher ScientificTMO | 0.2% | $47m | 93,258 | +2% |
| Parker-HannifinPH | 0.2% | $46m | 47,300 | +12% |
| PfizerPFE | 0.2% | $46m | 1,898,971 | +32% |
| AdobeADBE | 0.2% | $45m | 218,486 | -6% |
| O'Reilly AutomotiveORLY | 0.2% | $45m | 484,584 | Held |
| Trane TechnologiesTT | 0.2% | $45m | 90,713 | -9% |
| Charles SchwabSCHW | 0.2% | $44m | 480,711 | +8% |
| Walt DisneyDIS | 0.2% | $44m | 455,300 | -4% |
| SalesforceCRM | 0.2% | $44m | 277,879 | -14% |
| Cadence Design SystemsCDNS | 0.2% | $43m | 113,443 | Held |
| Republic ServicesRSG | 0.2% | $42m | 198,974 | Held |
| Automatic Data ProcessingADP | 0.2% | $42m | 185,768 | -5% |
| Cheniere EnergyLNG | 0.2% | $40m | 168,880 | +14% |
| AonAON | 0.2% | $40m | 120,985 | +30% |
Showing the largest 100 of 525.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 93.1% since 30 June 2025.
Where the money is
Technology37.4%
Financial services12.6%
Health care11.0%
Media & telecom10.0%
Industrials8.3%
Retail & consumer7.9%
Everyday goods5.6%
Real estate1.8%
Materials1.6%
Utilities1.3%
Energy0.7%
Other1.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.