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Varma Mutual Pension Insurance Co

SALMISAARENRANTA 11, HELSINKI 00180 • 358-50-910-1690

Q3 2025 · Filed 2025-11-06
Market Value
$13.2B
+20.4%
Holdings
311
-21
New Purchases
7
Added To
264
Closed
3
Reduced
17
Top 10 Concentration
45.6%
Turnover
3.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IWM 2.68% 0.28% +2.40% $353M
ASHR 0.91% 0.00% +0.91% $120M
GOOGL 2.97% 2.39% +0.59% $392M
EMCS 7.33% 6.87% +0.47% $966M
TSLA 1.32% 1.02% +0.30% $174M
ORCL 0.75% 0.45% +0.30% $99M
NVDA 5.62% 5.36% +0.27% $741M
AAPL 4.62% 4.37% +0.25% $609M
MJSC 0.13% 0.00% +0.13% $17M
CVX 0.40% 0.30% +0.10% $53M
JPM 1.08% 0.98% +0.10% $143M
APP 0.20% 0.11% +0.09% $26M
AVGO 1.56% 1.47% +0.09% $205M
PLTR 0.43% 0.36% +0.07% $57M
HOOD 0.16% 0.11% +0.06% $21M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KLMT 10.34% 11.69% -1.36% $1.4B
VCIT 1.72% 2.05% -0.32% $227M
LCTU 2.65% 2.96% -0.31% $349M
INDA 0.24% 0.54% -0.30% $32M
AMZN 2.75% 3.04% -0.29% $362M
META 2.09% 2.34% -0.25% $275M
MSFT 4.57% 4.77% -0.20% $603M
KURE 0.24% 0.41% -0.17% $32M
VCLT 0.94% 1.11% -0.17% $124M
NFLX 0.56% 0.69% -0.13% $74M
EMLC 0.60% 0.72% -0.12% $79M
ALV 0.00% 0.12% -0.12% $0
VWOB 0.63% 0.75% -0.11% $84M
TXN 0.14% 0.25% -0.11% $19M
SPY 0.00% 0.11% -0.11% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 49.1%
Technology 20.2%
Communication Services 6.3%
Consumer Cyclical 5.5%
Healthcare 5.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 54 $5.7B 43.1%
Large Cap 238 $4.2B 31.6%
Mid Cap 12 $481M 3.7%
Small Cap 5 $2.8B 21.3%
Micro Cap 2 $49M 0.4%

Portfolio Analytics

Avg Market Cap
$222.0B
Median Market Cap
$76.2B
Avg P/E
33.3
Median P/E
26.6
Avg Dividend Yield
0.02%
Avg Beta
1.01
# Stocks
294
# ETFs / Funds
17

Top Holdings (311 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KLMT 10.34% 44,931,497 $1.4B $30.31 $83M
2 EMCS 7.33% 27,941,634 $966M $34.57 $215M +3,880,954 +16.1%
3 NVDA 5.62% 3,969,166 $741M $186.58 $155M +261,900 +7.1%
4 AAPL 4.62% 2,391,483 $609M $254.63 $131M +61,800 +2.6%
5 MSFT 4.57% 1,163,376 $603M $517.95 $81M +113,900 +10.8%
6 GOOGL 2.97% 1,610,699 $392M $243.10 $130M +129,100 +8.7%
7 AMZN 2.75% 1,646,711 $362M $219.57 $29M +133,100 +8.8%
8 IWM 2.68% 1,458,061 $353M $241.96 $322M +1,316,074 +926.9%
9 LCTU 2.65% 4,814,000 $349M $72.58 $26M
10 META 2.09% 374,044 $275M $734.38 $19M +27,700 +8.0%
11 VCIT 1.72% 2,700,000 $227M $84.11 $3M
12 AVGO 1.56% 621,230 $205M $329.91 $44M +38,400 +6.6%
13 TSLA 1.32% 392,123 $174M $444.72 $62M +39,900 +11.3%
14 JPM 1.08% 452,211 $143M $315.43 $35M +80,700 +21.7%
15 VCLT 0.94% 1,600,000 $124M $77.65 $3M
16 ASHR 0.91% 3,641,000 $120M $32.98 +3,641,000 NEW
17 TSM 0.77% 364,600 $102M $279.29 $19M
18 V 0.76% 291,841 $100M $341.38 $15M +52,100 +21.7%
19 ORCL 0.75% 351,418 $99M $281.24 $49M +124,200 +54.7%
20 LLY 0.70% 121,468 $93M $763.00 $8M +12,200 +11.2%
21 VWOB 0.63% 1,250,000 $84M $66.90 $2M
22 MA 0.61% 141,308 $80M $568.81 $15M +25,100 +21.6%
23 EMLC 0.60% 3,100,000 $79M $25.51 $496K
24 NFLX 0.56% 61,675 $74M $1,198.92 -$2M +5,100 +9.0%
25 XOM 0.56% 655,303 $74M $112.75 $9M +51,900 +8.6%
26 WMT 0.56% 711,366 $73M $103.06 $13M +92,900 +15.0%
27 VCEB 0.54% 1,100,000 $71M $64.20 $880K
28 JNJ 0.53% 378,256 $70M $185.42 $17M +30,900 +8.9%
29 HD 0.49% 159,695 $65M $405.19 $13M +19,300 +13.8%
30 BAC 0.47% 1,208,924 $62M $51.59 $15M +215,600 +21.7%
31 ABBV 0.46% 263,467 $61M $231.54 $16M +21,200 +8.8%
32 COST 0.46% 65,057 $60M $925.63 $3M +7,100 +12.2%
33 PG 0.44% 374,055 $57M $153.65 $4M +39,400 +11.8%
34 PLTR 0.43% 314,000 $57M $182.42 $18M +25,200 +8.7%
35 FALN 0.42% 2,000,000 $56M $27.78 $1M
36 CVX 0.40% 342,936 $53M $155.29 $20M +110,106 +47.3%
37 GE 0.39% 169,308 $51M $300.82 $12M +18,300 +12.1%
38 UNH 0.38% 145,462 $50M $345.30 $11M +19,800 +15.8%
39 KO 0.34% 684,076 $45M $66.32 $3M +79,500 +13.2%
40 WFC 0.34% 537,859 $45M $83.82 $10M +96,700 +21.9%
41 CSCO 0.34% 647,947 $44M $68.42 $3M +52,000 +8.7%
42 GS 0.33% 54,700 $44M $796.35 $12M +9,900 +22.1%
43 CRM 0.33% 182,428 $43M $237.00 $4M +39,600 +27.7%
44 GOOG 0.32% 170,814 $42M $243.55 $12M +4,864 +2.9%
45 IBM 0.30% 138,458 $39M $282.16 $2M +11,100 +8.7%
46 LIN 0.29% 80,085 $38M $475.00 $3M +6,300 +8.5%
47 AXP 0.29% 113,635 $38M $332.16 $8M +20,500 +22.0%
48 ABT 0.28% 279,852 $37M $133.94 $1M +12,600 +4.7%
49 CAT 0.28% 78,556 $37M $477.15 $11M +9,200 +13.3%
50 NOW 0.28% 39,983 $37M $920.28 $5M +9,200 +29.9%
51 PEP 0.28% 258,857 $36M $140.44 $5M +22,700 +9.6%
52 MCD 0.27% 115,866 $35M $303.89 $4M +9,400 +8.8%
53 RY 0.27% 237,929 $35M $147.42 $6M +19,000 +8.7%
54 C 0.26% 341,876 $35M $101.50 $11M +61,500 +21.9%
55 LRCX 0.26% 258,830 $35M $133.90 $11M +20,800 +8.7%
56 MS 0.26% 213,512 $34M $158.96 $9M +38,400 +21.9%
57 MRK 0.26% 402,774 $34M $83.93 $5M +33,100 +8.9%
58 T 0.26% 1,196,460 $34M $28.24 $2M +97,200 +8.8%
59 DIS 0.25% 284,894 $33M $114.50 $155K +23,100 +8.8%
60 AMAT 0.25% 159,182 $33M $204.74 $6M +12,700 +8.7%
61 TMO 0.24% 65,917 $32M $485.02 $7M +5,200 +8.6%
62 KURE 0.24% 1,520,129 $32M $20.94 -$14M -1,162,000 -43.3%
63 INDA 0.24% 607,910 $32M $52.06 -$27M -443,730 -42.2%
64 QCOM 0.24% 187,971 $31M $166.36 $4M +15,100 +8.7%
65 SPGI 0.23% 63,407 $31M $486.71 $3M +11,400 +21.9%
66 INTU 0.23% 45,058 $31M $682.91 -$2M +3,600 +8.7%
67 BLK 0.23% 26,012 $30M $1,165.87 $8M +4,700 +22.1%
68 VZ 0.23% 689,809 $30M $43.95 $3M +56,000 +8.8%
69 MU 0.23% 179,971 $30M $167.32 $10M +14,500 +8.8%
70 AMD 0.23% 184,117 $30M $161.79 -$4M -54,200 -22.7%
71 UBER 0.22% 297,892 $29M $97.97 $5M +36,100 +13.8%
72 SHOP 0.22% 195,858 $29M $148.60 $8M +15,700 +8.7%
73 BKNG 0.22% 5,324 $29M $5,399.27 $239K +400 +8.1%
74 ETN 0.22% 76,325 $29M $374.25 $5M +9,400 +14.1%
75 GEV 0.21% 45,743 $28M $614.90 $7M +6,600 +16.9%
76 KLAC 0.21% 25,764 $28M $1,078.60 $7M +2,100 +8.9%
77 SCHW 0.21% 289,681 $28M $95.47 $6M +52,100 +21.9%
78 ANET 0.20% 182,300 $27M $145.71 $9M +14,600 +8.7%
79 AEM 0.20% 157,552 $27M $168.46 $9M +12,300 +8.5%
80 BSX 0.20% 270,881 $26M $97.63 -$2M +2,700 +1.0%
81 TJX 0.20% 182,966 $26M $144.54 $7M +23,700 +14.9%
82 COP 0.20% 278,352 $26M $94.59 $3M +22,000 +8.6%
83 COF 0.20% 123,582 $26M $212.58 $5M +22,300 +22.0%
84 APP 0.20% 36,400 $26M $718.54 $14M +2,900 +8.7%
85 APH 0.20% 209,939 $26M $123.75 $7M +16,800 +8.7%
86 ISRG 0.20% 57,853 $26M $447.23 -$3M +4,400 +8.2%
87 AMGN 0.19% 89,259 $25M $282.20 $2M +7,300 +8.9%
88 UNP 0.19% 105,049 $25M $236.37 $6M +24,300 +30.1%
89 NEE 0.19% 326,193 $25M $75.49 $3M +15,600 +5.0%
90 PFE 0.19% 960,563 $24M $25.48 $3M +82,500 +9.4%
91 WELL 0.18% 136,776 $24M $178.14 $5M +10,800 +8.6%
92 PGR 0.18% 98,444 $24M $246.95 $3M +17,800 +22.1%
93 ADI 0.18% 97,459 $24M $245.70 $3M +7,800 +8.7%
94 BX 0.18% 138,600 $24M $170.85 $7M +25,000 +22.0%
95 TD 0.18% 294,798 $24M $79.98 $4M +23,600 +8.7%
96 INTC 0.18% 692,723 $23M $33.55 $9M +55,500 +8.7%
97 WPM 0.18% 207,358 $23M $111.93 $6M +16,300 +8.5%
98 PANW 0.17% 112,776 $23M $203.62 $2M +9,000 +8.7%
99 NEM 0.17% 269,756 $23M $84.31 $8M +21,300 +8.6%
100 GILD 0.17% 204,615 $23M $111.00 $2M +16,800 +8.9%

New Positions

SymbolValue% Port
ASHR $120M 0.91%
MJSC $17M 0.13%
WRD $7M 0.05%
AUR $5M 0.04%
BURL $4M 0.03%
ONON $3M 0.02%
STNE $2M 0.02%

Sold Out Positions

SymbolValue% Port
ALV —%
SPY —%
HES —%
View SEC EDGAR Filings for Varma Mutual Pension Insurance Co →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms