Varma Mutual Pension Insurance Co
Long book
$16.98B
Q1 2026
Positions
319
Top-10 weight
51%
concentration
Last quarter
+13.1%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsVarma Mutual Pension Insurance Co is an institutional manager, running a $16.98B US long book across 319 positions.
The portfolio is concentrated: the top 10 names carry 51% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ISHARES EXPANDED TECH-SOFTWA, INVESCO MSCI N AMR CLIMT ETF, INVESCO MSCI GL CLM 500 ETF, SS ENERGY SELECT SECTOR, XTRACKE MSCI EMER MS ETF-USD.
Over the last 9 quarters its long book ran on average 0.1pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.5%
Q2 2024
+5.6%
Q3 2024
+2.2%
Q4 2024
-3.3%
Q1 2025
+10.8%
Q2 2025
+8.0%
Q3 2025
+2.8%
Q4 2025
-3.7%
Q1 2026
+13.1%
Sector allocation
Technology 41%
Financials 12%
Industrials 10%
Consumer discretionary 9%
Healthcare 8%
Services media 6%
Energy 4%
Other 3%
Long book by quarter
What does Varma Mutual own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 3.9M | $681.6M | 4.0% | -2.7% |
| AAPL APPLE INC | Technology | 2.4M | $618.5M | 3.6% | -2.4% |
| GOOGL ALPHABET INC-CL A | Technology | 1.5M | $443.5M | 2.6% | -3.7% |
| MSFT MICROSOFT CORP | Technology | 1.1M | $413.9M | 2.4% | -1.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.6M | $324.3M | 1.9% | -4.6% |
| META META PLATFORMS INC-CLASS A | Technology | 380.9K | $217.9M | 1.3% | +1.5% |
| AVGO BROADCOM INC | Technology | 621.9K | $192.5M | 1.1% | -3.3% |
| TSLA TESLA INC | Industrials | 414.0K | $153.9M | 0.9% | +2.5% |
| JPM JPMORGAN CHASE & CO | Financials | 450.5K | $132.5M | 0.8% | Held |
| XOM EXXON MOBIL CORP | Energy | 662.8K | $112.5M | 0.7% | Held |
| LLY ELI LILLY & CO | Healthcare | 117.9K | $108.4M | 0.6% | -4.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 381.4K | $93.2M | 0.5% | +1.3% |
| V VISA INC-CLASS A SHARES | Services media | 291.3K | $88.1M | 0.5% | Held |
| WMT WALMART INC | Consumer discretionary | 665.4K | $82.7M | 0.5% | -0.4% |
| MA MASTERCARD INC - A | Services media | 148.2K | $74.1M | 0.4% | Held |
| CVX CHEVRON CORP | Energy | 308.4K | $63.8M | 0.4% | Held |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 64.0K | $63.7M | 0.4% | -2.3% |
| NFLX NETFLIX INC | Services media | 620.3K | $59.6M | 0.4% | -1.9% |
| BAC BANK OF AMERICA CORP | Financials | 1.2M | $58.3M | 0.3% | Held |
| ABBV ABBVIE INC | Healthcare | 266.7K | $58.0M | 0.3% | +1.9% |
| MU MICRON TECHNOLOGY INC | Technology | 170.1K | $57.5M | 0.3% | Held |
| GOOG ALPHABET INC-CL C | Technology | 190.9K | $54.8M | 0.3% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 378.9K | $54.7M | 0.3% | Held |
| CAT CATERPILLAR INC | Industrials | 76.4K | $54.1M | 0.3% | Held |
| KO COCA-COLA CO/THE | Consumer staples | 707.3K | $53.8M | 0.3% | Held |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 365.9K | $53.5M | 0.3% | +9.8% |
| AMAT APPLIED MATERIALS INC | Technology | 156.6K | $53.5M | 0.3% | +6.1% |
| LRCX LAM RESEARCH CORP | Industrials | 241.7K | $51.6M | 0.3% | +4.3% |
| AMD ADVANCED MICRO DEVICES | Technology | 242.9K | $49.4M | 0.3% | Held |
| HD HOME DEPOT INC | Consumer discretionary | 150.1K | $49.4M | 0.3% | -3.2% |
| GE GENERAL ELECTRIC | Industrials | 173.7K | $49.3M | 0.3% | Held |
| MRK MERCK & CO. INC. | Healthcare | 406.9K | $48.9M | 0.3% | +2.5% |
| CSCO CISCO SYSTEMS INC | Technology | 611.8K | $47.5M | 0.3% | -6.9% |
| GS GOLDMAN SACHS GROUP INC | Financials | 55.2K | $46.7M | 0.3% | -8.3% |
| KLAC KLA CORP | Other | 31.0K | $45.6M | 0.3% | +26.1% |
| WFC WELLS FARGO & CO | Financials | 538.8K | $42.9M | 0.3% | Held |
| GEV GE VERNOVA INC | Industrials | 45.4K | $39.7M | 0.2% | +3.4% |
| LIN LINDE PLC | Materials | 79.6K | $39.5M | 0.2% | Held |
| C CITIGROUP INC | Financials | 341.9K | $38.8M | 0.2% | Held |
| RY ROYAL BANK OF CANADA | Financials | 240.5K | $38.8M | 0.2% | Held |
| PEP PEPSICO INC | Consumer staples | 246.6K | $38.3M | 0.2% | Held |
| UNH UNITEDHEALTH GROUP INC | Financials | 140.1K | $37.9M | 0.2% | +5.3% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 742.1K | $37.3M | 0.2% | Held |
| MS MORGAN STANLEY | Financials | 221.4K | $36.4M | 0.2% | Held |
| COP CONOCOPHILLIPS | Energy | 275.9K | $36.4M | 0.2% | Held |
| T AT&T INC | Communications | 1.2M | $36.2M | 0.2% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 110.9K | $33.6M | 0.2% | Held |
| AMGN AMGEN INC | Healthcare | 95.2K | $33.5M | 0.2% | +7.9% |
| MCD MCDONALD'S CORP | Consumer discretionary | 107.4K | $33.4M | 0.2% | -9.3% |
| ORCL ORACLE CORP | Technology | 224.5K | $33.0M | 0.2% | -11.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 319 | $16.98B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 2, 2026 | 308 | $16.54B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 312 | $15.59B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 309 | $13.57B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 320 | $11.63B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 7, 2025 | 322 | $13.17B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 317 | $12.63B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 346 | $12.44B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 355 | $11.54B | canonical | SEC ↗ |
Similar funds
MASSACHUSETTS FINANCIAL SERVICES CO /MA/JENNISON ASSOCIATES LLCNational Pension ServiceFIL LtdClearbridge Investments, LLCDZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am MainNORDEA INVESTMENT MANAGEMENT ABBoston PartnersSwedbank AB1832 Asset Management L.P. HARRIS ASSOCIATES L PLOOMIS SAYLES & CO L P