Varma Mutual Pension Insurance Co

Portfolio Overview

Varma Mutual Pension Insurance Co disclosed 313 positions worth $18.9B in its Form 13F-HR for Q2 2026. During the quarter the fund opened 33 new positions and exited 39 — including a new stake in $IVZ. The portfolio is most concentrated in Other (40.5% of disclosed assets). All figures are sourced directly from Varma Mutual Pension Insurance Co’s Form 13F-HR filing with the SEC under CIK 1698484.

• INVESCO EXCH TRADED FD TR II - MSCI NORTH AMER

  —

  Quality

  $2.5B82,227,516 sh

• INVESCO EXCH TRADED FD TR II - MSCI CLIMATE 500

  —

  Quality

  $1.6B44,931,497 sh

• ISHARES TR - EXPANDED TECH

  —

  Quality

  $1.4B15,248,262 sh

• DBX ETF TR - XTRACKERS MSCI E

  —

  Quality

  $967.3M20,621,177 sh
• 

  NVIDIA CORP

  $NVDA

  85.9

  Quality

  $784.5M3,920,566 sh
• 

  Apple Inc.

  $AAPL

  76.3

  Quality

  $719.0M2,484,883 sh
• 

  Invesco Ltd.

  $IVZ

  —

  Quality

  $568.9M2,673,800 sh
• 

  Alphabet Inc.

  $GOOG

  78.1

  Quality

  $561.3M1,570,599 sh
• 

  MICROSOFT CORP

  $MSFT

  79.7

  Quality

  $425.6M1,141,076 sh
• 

  AMAZON COM INC

  $AMZN

  68.4

  Quality

  $410.4M1,721,811 sh

Company	Quality	Value	Shares
INVESCO EXCH TRADED FD TR II - MSCI NORTH AMER	—	$2.5B	82,227,516
INVESCO EXCH TRADED FD TR II - MSCI CLIMATE 500	—	$1.6B	44,931,497
ISHARES TR - EXPANDED TECH	—	$1.4B	15,248,262
DBX ETF TR - XTRACKERS MSCI E	—	$967.3M	20,621,177
NVIDIA CORP$NVDA	85.9	$784.5M	3,920,566
Apple Inc.$AAPL	76.3	$719.0M	2,484,883
Invesco Ltd.$IVZ	—	$568.9M	2,673,800
Alphabet Inc.$GOOG	78.1	$561.3M	1,570,599
MICROSOFT CORP$MSFT	79.7	$425.6M	1,141,076
AMAZON COM INC$AMZN	68.4	$410.4M	1,721,811

Showing top 10 of 313 holdings.

Top Holdings — Varma Mutual Pension Insurance Co (Q2 2026)

Top 150 of 313 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	INVESCO EXCH TRADED FD TR II - MSCI NORTH AMER	$2.5B	13.4%	+47%	—
2	—	INVESCO EXCH TRADED FD TR II - MSCI CLIMATE 500	$1.6B	8.2%	+0%	—
3	—	ISHARES TR - EXPANDED TECH	$1.4B	7.3%	-25%	—
4	—	DBX ETF TR - XTRACKERS MSCI E	$967.3M	5.1%	+0%	—
5	$NVDA	NVIDIA CORP	$784.5M	4.2%	+0%	85.9
6	$AAPL	Apple Inc.	$719.0M	3.8%	+2%	76.3
7	$IVZ	Invesco Ltd.	$568.9M	3.0%	NEW	—
8	$GOOG	Alphabet Inc.	$561.3M	3.0%	+2%	78.1
9	$MSFT	MICROSOFT CORP	$425.6M	2.3%	+2%	79.7
10	$AMZN	AMAZON COM INC	$410.4M	2.2%	+11%	68.4
11	—	BLACKROCK ETF TRUST - ISHA US AWAR ETF	$385.9M	2.0%	+0%	—
12	—	INVESCO QQQ TR - UNIT SER 1	$279.8M	1.5%	NEW	—
13	$AVGO	Broadcom Inc.	$242.5M	1.3%	+3%	84.4
14	$META	Meta Platforms, Inc.	$210.7M	1.1%	-2%	79.6
15	$TSM	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$178.0M	0.9%	+2%	—
16	$TSLA	Tesla, Inc.	$174.0M	0.9%	-0%	53.6
17	$MU	MICRON TECHNOLOGY INC	$159.4M	0.8%	-19%	86.1
18	$JPM	JPMORGAN CHASE & CO	$151.0M	0.8%	+2%	70.3
19	$LLY	ELI LILLY & Co	$139.0M	0.7%	-2%	87.5
20	$AMD	ADVANCED MICRO DEVICES INC	$134.0M	0.7%	-5%	79.7
21	$V	VISA INC.	$103.0M	0.6%	+3%	82.7
22	$JNJ	JOHNSON & JOHNSON	$98.2M	0.5%	+1%	68.8
23	$AMAT	APPLIED MATERIALS INC /DE	$97.2M	0.5%	-14%	72.1
24	$XOM.R34088	EXXON MOBIL CORP	$91.2M	0.5%	+1%	57.7
25	$INTC	INTEL CORP	$91.1M	0.5%	-6%	45.5
26	—	ISHARES TR - MSCI INDIA ETF	$89.1M	0.5%	+197%	—
27	$LRCX	LAM RESEARCH CORP	$87.1M	0.5%	-17%	79.3
28	$SNPS	SYNOPSYS INC	$84.0M	0.5%	+0%	67.7
29	—	VANECK ETF TRUST - JP MRGAN EM LOC	$79.2M	0.4%	+0%	—
30	$CAT	CATERPILLAR INC	$78.9M	0.4%	-3%	66.3
31	$WMT	Walmart Inc.	$77.1M	0.4%	+2%	59.9
32	$MA	Mastercard Inc	$77.0M	0.4%	+1%	85
33	$CSCO	CISCO SYSTEMS, INC.	$73.5M	0.4%	+2%	70.1
34	—	VANGUARD WORLD FD - ESG US CORP BD	$69.0M	0.4%	+0%	—
35	$BAC	BANK OF AMERICA CORP /DE/	$68.9M	0.4%	+1%	67.3
36	$ABBV	AbbVie Inc.	$68.0M	0.4%	+1%	72.5
37	$GOOGL	Alphabet Inc.	$67.5M	0.4%	+0%	78.1
38	$KLAC	KLA CORP	$67.2M	0.4%	+619%	78.5
39	—	SELECT SECTOR SPDR TR - ST STR ENERG ETF	$63.6M	0.3%	-91%	—
40	$HD	HOME DEPOT, INC.	$61.1M	0.3%	+15%	60.1
41	$UNH	UNITEDHEALTH GROUP INC	$61.0M	0.3%	+5%	62.5
42	$COST	COSTCO WHOLESALE CORP /NEW	$59.8M	0.3%	+0%	65.9
43	$GE	GENERAL ELECTRIC CO	$57.3M	0.3%	-12%	73.6
44	—	KRANESHARES TRUST - SSE STAR MRKT 50	$56.3M	0.3%	+67%	—
45	$GS	GOLDMAN SACHS GROUP INC	$56.0M	0.3%	+0%	73.3
46	$PG	PROCTER & GAMBLE Co	$54.1M	0.3%	-3%	64.4
47	$KO	COCA COLA CO	$53.8M	0.3%	-6%	69.3
48	—	ISHARES INC - MSCI CHILE ETF	$51.4M	0.3%	+0%	—
49	$MRK	Merck & Co., Inc.	$51.3M	0.3%	-2%	59.7
50	$CVX	CHEVRON CORP	$51.3M	0.3%	+0%	62.6
51	$RY	ROYAL BANK OF CANADA	$50.8M	0.3%	+2%	74.8
52	$GEV	GE Vernova Inc.	$50.6M	0.3%	-5%	81.1
53	$MS	MORGAN STANLEY	$46.7M	0.3%	+1%	75.7
54	$NFLX	NETFLIX INC	$45.8M	0.2%	+3%	78.6
55	$C	CITIGROUP INC	$45.6M	0.2%	-5%	64.7
56	$TXN	TEXAS INSTRUMENTS INC	$44.9M	0.2%	+17%	73.2
57	$WFC	WELLS FARGO & COMPANY/MN	$44.7M	0.2%	+0%	61.5
58	$PM	Philip Morris International Inc.	$43.9M	0.2%	NEW	75.7
59	$RTX	RTX Corp	$40.8M	0.2%	NEW	73.1
60	$PANW	Palo Alto Networks Inc	$40.5M	0.2%	+3%	65.4
61	$MRVL	Marvell Technology, Inc.	$39.6M	0.2%	-0%	76.3
62	$IBM	INTERNATIONAL BUSINESS MACHINES CORP	$38.7M	0.2%	+4%	69.7
63	$AXP	AMERICAN EXPRESS CO	$37.9M	0.2%	+1%	69.1
64	$PLTR	Palantir Technologies Inc.	$37.6M	0.2%	-12%	84.5
65	$LIN	LINDE PLC	$37.5M	0.2%	-9%	—
66	$TD	TORONTO DOMINION BANK	$36.5M	0.2%	-1%	80.5
67	$GLW	CORNING INC /NY	$36.0M	0.2%	-13%	73.5
68	$WDC	WESTERN DIGITAL CORP	$35.3M	0.2%	-27%	80.5
69	$ORCL	ORACLE CORP	$35.1M	0.2%	+7%	68.2
70	$APH	AMPHENOL CORP /DE/	$35.0M	0.2%	-9%	79.1
71	—	ISHARES INC - MSCI STH KOR ETF	$34.2M	0.2%	-32%	—
72	$AMGN	AMGEN INC	$33.9M	0.2%	-2%	79
73	—	ISHARES TR - JPMORGAN USD EMG	$33.8M	0.2%	+0%	—
74	$ADI	ANALOG DEVICES INC	$32.3M	0.2%	+0%	79.1
75	$STX	Seagate Technology Holdings plc	$32.1M	0.2%	-24%	—
76	$ETN	Eaton Corp plc	$32.0M	0.2%	-6%	—
77	$QCOM	QUALCOMM INC/DE	$31.8M	0.2%	-5%	70.4
78	$ANET	Arista Networks, Inc.	$31.8M	0.2%	-6%	81.8
79	$PEP	PEPSICO INC	$31.5M	0.2%	-6%	63.2
80	$TMO	THERMO FISHER SCIENTIFIC INC.	$31.2M	0.2%	-2%	64.9
81	$VZ	VERIZON COMMUNICATIONS INC	$31.0M	0.2%	-1%	65.5
82	$CRWD	CrowdStrike Holdings, Inc.	$30.7M	0.2%	+1%	67.5
83	$WELL	WELLTOWER INC.	$30.5M	0.2%	-2%	59.8
84	$SCHW	SCHWAB CHARLES CORP	$30.2M	0.2%	+6%	79.3
85	$DIS	Walt Disney Co	$29.7M	0.2%	+6%	59.8
86	—	SPDR SERIES TRUST - SST SPDR BLOOMBE	$29.3M	0.2%	+0%	—
87	$DELL	Dell Technologies Inc.	$29.1M	0.1%	+42%	71.1
88	$DE	DEERE & CO	$28.8M	0.1%	-3%	55.3
89	$ABT	ABBOTT LABORATORIES	$28.6M	0.1%	+8%	65.2
90	$BLK	BlackRock, Inc.	$28.2M	0.1%	+5%	69.8
91	$UNP	UNION PACIFIC CORP	$27.8M	0.1%	-3%	69.5
92	$SPGI	S&P Global Inc.	$27.3M	0.1%	+4%	75.8
93	$MCD	MCDONALDS CORP	$27.2M	0.1%	-6%	68.6
94	$NEE	NEXTERA ENERGY INC	$27.0M	0.1%	-6%	64.4
95	$GILD	GILEAD SCIENCES, INC.	$26.3M	0.1%	+1%	57.3
96	$COP	CONOCOPHILLIPS	$26.0M	0.1%	-9%	70
97	$PH	Parker-Hannifin Corp	$26.0M	0.1%	-18%	65.6
98	$T	AT&T INC.	$25.5M	0.1%	-1%	65.5
99	$PFE	PFIZER INC	$25.4M	0.1%	+3%	61.8
100	$FCX	FREEPORT-MCMORAN INC	$25.4M	0.1%	+12%	61.7
101	$BA	BOEING CO	$25.3M	0.1%	NEW	61.4
102	$BMO	BANK OF MONTREAL /CAN/	$25.2M	0.1%	-0%	76
103	$PGR	PROGRESSIVE CORP/OH/	$25.1M	0.1%	+4%	80
104	$COF	CAPITAL ONE FINANCIAL CORP	$25.0M	0.1%	-3%	62.1
105	$ENB	ENBRIDGE INC	$24.1M	0.1%	+2%	66.7
106	$PLD	Prologis, Inc.	$24.1M	0.1%	-1%	68.3
107	—	KRANESHARES TRUST - MSCI ALL CHINA	$23.9M	0.1%	+0%	—
108	$UBER	Uber Technologies, Inc	$23.9M	0.1%	+0%	73.3
109	$CMI	CUMMINS INC	$23.8M	0.1%	-8%	58
110	$WPM	Wheaton Precious Metals Corp.	$23.7M	0.1%	+10%	—
111	$BNS	BANK OF NOVA SCOTIA	$23.6M	0.1%	+1%	71.1
112	$CB	Chubb Ltd	$23.5M	0.1%	-3%	—
113	$ISRG	INTUITIVE SURGICAL INC	$23.4M	0.1%	+3%	79.7
114	$CRM	Salesforce, Inc.	$23.4M	0.1%	+1%	76.9
115	$TT	Trane Technologies plc	$23.3M	0.1%	+2%	—
116	$BNY	Bank of New York Mellon Corp	$23.3M	0.1%	-9%	73.8
117	$MRSH	MARSH & MCLENNAN COMPANIES, INC.	$23.2M	0.1%	+9%	65.9
118	$BKNG	Booking Holdings Inc.	$23.0M	0.1%	+2239%	58.3
119	$CM	CANADIAN IMPERIAL BANK OF COMMERCE /CAN/	$22.6M	0.1%	+1%	76.4
120	$SHOP	SHOPIFY INC.	$22.2M	0.1%	+1%	64.9
121	$CVS	CVS HEALTH Corp	$22.1M	0.1%	+13%	59.2
122	—	RBB FUND TRUST - MUFG JAP CAP ETF	$21.9M	0.1%	+0%	—
123	$TJX	TJX COMPANIES INC /DE/	$21.8M	0.1%	-14%	68.4
124	$NEM	NEWMONT Corp /DE/	$21.8M	0.1%	+1%	86.7
125	$BMY	BRISTOL MYERS SQUIBB CO	$21.6M	0.1%	-5%	70.1
126	$MO	ALTRIA GROUP, INC.	$21.4M	0.1%	NEW	67.2
127	$AEM	AGNICO EAGLE MINES LTD	$21.2M	0.1%	-3%	—
128	$ECL	ECOLAB INC.	$21.1M	0.1%	+10%	63
129	$PNC	PNC FINANCIAL SERVICES GROUP, INC.	$20.7M	0.1%	+0%	73.4
130	$VRT	Vertiv Holdings Co	$20.7M	0.1%	-15%	80.9
131	$JCI	Johnson Controls International plc	$20.6M	0.1%	-2%	—
132	$LOW	LOWES COMPANIES INC	$20.4M	0.1%	+5%	60.4
133	$MDT	Medtronic plc	$20.3M	0.1%	+9%	68.7
134	$VRTX	VERTEX PHARMACEUTICALS INC / MA	$20.3M	0.1%	-6%	75.2
135	$ADP	AUTOMATIC DATA PROCESSING INC	$20.2M	0.1%	+12%	69.6
136	$PWR	QUANTA SERVICES, INC.	$20.0M	0.1%	-13%	71.9
137	$EOG	EOG RESOURCES INC	$20.0M	0.1%	+1%	71.7
138	$BX	Blackstone Inc.	$19.8M	0.1%	+15%	74.2
139	$USB	US BANCORP DE	$19.6M	0.1%	+2%	65
140	$DHR	DANAHER CORP /DE/	$19.6M	0.1%	+0%	64.6
141	$NOW	ServiceNow, Inc.	$19.5M	0.1%	+16%	72.8
142	$SBUX	STARBUCKS CORP	$19.4M	0.1%	-0%	57.9
143	$EQIX	EQUINIX INC	$19.2M	0.1%	-3%	59
144	$LMT	LOCKHEED MARTIN CORP	$18.6M	0.1%	NEW	65.4
145	$BN	BROOKFIELD Corp /ON/	$18.5M	0.1%	-4%	—
146	$DOV	DOVER Corp	$18.5M	0.1%	+5%	57.8
147	$CCZ	COMCAST CORP	$18.5M	0.1%	-2%	59.3
148	$FANG	Diamondback Energy, Inc.	$18.4M	0.1%	+3%	75.9
149	$CME	CME GROUP INC.	$18.3M	0.1%	+3%	69.2
150	$CDNS	CADENCE DESIGN SYSTEMS INC	$18.3M	0.1%	+1%	72.5