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Varma Mutual Pension Insurance Co

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

Q4 2025 · Filed 2026-02-02
Market Value
$13.8B
+4.9%
Holdings
338
+27
New Purchases
30
Added To
154
Closed
36
Reduced
99
Top 10 Concentration
45.7%
Turnover
19.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 5.48% 0.00% +5.48% $757M
RSP 2.37% 0.00% +2.37% $327M
GOOGL 3.63% 2.97% +0.66% $501M
AAPL 4.91% 4.62% +0.29% $679M
LLY 0.96% 0.70% +0.25% $132M
AMD 0.38% 0.23% +0.15% $52M
MU 0.35% 0.23% +0.12% $49M
GOOG 0.43% 0.32% +0.12% $60M
BR 0.11% 0.00% +0.11% $15M
FNV 0.10% 0.00% +0.10% $14M
EMB 0.24% 0.14% +0.10% $34M
VRSK 0.10% 0.00% +0.10% $13M
WDC 0.09% 0.00% +0.09% $13M
XYL 0.09% 0.00% +0.09% $13M
STX 0.09% 0.00% +0.09% $13M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EMCS 4.55% 7.33% -2.78% $629M
IWM 0.00% 2.68% -2.68% $0
ASHR 0.00% 0.91% -0.91% $0
MSFT 3.99% 4.57% -0.59% $551M
ORCL 0.36% 0.75% -0.39% $50M
META 1.79% 2.09% -0.29% $248M
KLMT 10.07% 10.34% -0.27% $1.4B
NVDA 5.42% 5.62% -0.20% $749M
NFLX 0.43% 0.56% -0.13% $59M
HD 0.39% 0.49% -0.11% $53M
ITW 0.00% 0.10% -0.10% $0
O 0.00% 0.10% -0.10% $0
PBA 0.00% 0.10% -0.10% $0
VCIT 1.64% 1.72% -0.09% $226M
FAST 0.00% 0.09% -0.09% $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 $6.7B 48.5%
Large Cap 264 $4.2B 30.5%
Mid Cap 12 $352M 2.5%
Small Cap 6 $2.5B 18.2%
Micro Cap 2 $44M 0.3%

Portfolio Analytics

Avg Market Cap
$211.0B
Median Market Cap
$73.9B
Avg P/E
34.4
Median P/E
27.3
Avg Dividend Yield
0.02%
Avg Beta
1.02
# Stocks
319
# ETFs / Funds
19

Top Holdings (338 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KLMT 10.07% 44,931,497 $1.4B $30.97 $30M
2 VOO 5.48% 1,207,700 $757M $627.13 +1,207,700 NEW
3 NVDA 5.42% 4,015,866 $749M $186.50 $8M +46,700 +1.2%
4 AAPL 4.91% 2,495,883 $679M $271.86 $70M +104,400 +4.4%
5 EMCS 4.55% 17,660,261 $629M $35.64 -$337M -10,281,373 -36.8%
6 MSFT 3.99% 1,139,676 $551M $483.62 -$51M -23,700 -2.0%
7 GOOGL 3.63% 1,602,199 $501M $313.00 $110M -8,500 -0.5%
8 AMZN 2.73% 1,632,111 $377M $230.82 $15M -14,600 -0.9%
9 LCTU 2.58% 4,814,000 $357M $74.09 $7M
10 RSP 2.37% 1,708,000 $327M $191.56 +1,708,000 NEW
11 META 1.79% 375,244 $248M $660.09 -$27M +1,200 +0.3%
12 VCIT 1.64% 2,700,000 $226M $83.75 -$972K
13 AVGO 1.61% 643,130 $223M $346.10 $18M +21,900 +3.5%
14 TSLA 1.32% 404,023 $182M $449.72 $7M +11,900 +3.0%
15 JPM 1.05% 450,511 $145M $322.22 $3M -1,700 -0.4%
16 LLY 0.96% 122,868 $132M $1,074.68 $39M +1,400 +1.1%
17 VCLT 0.88% 1,600,000 $121M $75.85 -$3M
18 TSM 0.80% 364,600 $111M $303.89 $9M
19 V 0.74% 291,341 $102M $350.71 $3M -500 -0.2%
20 MA 0.61% 148,208 $85M $570.88 $4M +6,900 +4.9%
21 VWOB 0.61% 1,250,000 $84M $67.43 $662K
22 EMLC 0.58% 3,100,000 $80M $25.82 $961K
23 XOM 0.58% 662,803 $80M $120.34 $6M +7,500 +1.1%
24 JNJ 0.56% 376,356 $78M $206.95 $8M -1,900 -0.5%
25 WMT 0.54% 667,866 $74M $111.41 $1M -43,500 -6.1%
26 VCEB 0.51% 1,100,000 $70M $63.63 -$627K
27 BAC 0.48% 1,196,424 $66M $55.00 $3M -12,500 -1.0%
28 GOOG 0.43% 190,914 $60M $313.80 $18M +20,100 +11.8%
29 ABBV 0.43% 261,667 $60M $228.49 -$1M -1,800 -0.7%
30 NFLX 0.43% 632,250 $59M $93.76 -$15M +570,575 +925.1%
31 PLTR 0.43% 333,170 $59M $177.75 $2M +19,170 +6.1%
32 COST 0.41% 65,457 $56M $862.34 -$4M +400 +0.6%
33 FALN 0.40% 2,000,000 $55M $27.30 -$960K
34 PG 0.39% 378,855 $54M $143.31 -$3M +4,800 +1.3%
35 GE 0.39% 173,745 $54M $308.03 $3M +4,437 +2.6%
36 HD 0.39% 155,095 $53M $344.10 -$11M -4,600 -2.9%
37 GS 0.38% 60,200 $53M $879.00 $9M +5,500 +10.1%
38 AMD 0.38% 242,917 $52M $214.16 $22M +58,800 +31.9%
39 CSCO 0.37% 656,847 $51M $77.03 $6M +8,900 +1.4%
40 WFC 0.36% 538,759 $50M $93.20 $5M +900 +0.2%
41 ORCL 0.36% 254,518 $50M $194.91 -$49M -96,900 -27.6%
42 KO 0.36% 707,276 $49M $69.91 $4M +23,200 +3.4%
43 MU 0.35% 170,071 $49M $285.41 $18M -9,900 -5.5%
44 CVX 0.34% 308,436 $47M $152.41 -$6M -34,500 -10.1%
45 UNH 0.32% 133,062 $44M $330.11 -$6M -12,400 -8.5%
46 CAT 0.32% 76,416 $44M $572.87 $6M -2,140 -2.7%
47 MRK 0.30% 396,874 $42M $105.26 $8M -5,900 -1.5%
48 CRM 0.30% 157,228 $42M $264.91 -$2M -25,200 -13.8%
49 IBM 0.30% 139,408 $41M $296.21 $2M +950 +0.7%
50 RY 0.30% 240,529 $41M $170.70 $6M +2,600 +1.1%
51 AXP 0.30% 110,935 $41M $369.95 $3M -2,700 -2.4%
52 C 0.29% 341,876 $40M $116.69 $5M
53 LRCX 0.29% 231,730 $40M $171.18 $5M -27,100 -10.5%
54 MS 0.28% 221,412 $39M $177.53 $5M +7,900 +3.7%
55 AMAT 0.27% 147,582 $38M $256.99 $5M -11,600 -7.3%
56 TMO 0.27% 63,217 $37M $579.45 $5M -2,700 -4.1%
57 MCD 0.26% 118,366 $36M $305.63 $966K +2,500 +2.2%
58 PEP 0.26% 246,557 $35M $143.52 -$968K -12,300 -4.8%
59 ABT 0.26% 281,652 $35M $125.29 -$2M +1,800 +0.6%
60 LIN 0.25% 79,585 $34M $426.39 -$4M -500 -0.6%
61 SPGI 0.24% 64,507 $34M $522.59 $3M +1,100 +1.7%
62 EMB 0.24% 350,000 $34M $96.28 $15M +150,000 +75.0%
63 DIS 0.24% 290,594 $33M $113.77 $441K +5,700 +2.0%
64 INDA 0.24% 607,910 $33M $54.05 $1M
65 ISRG 0.23% 57,253 $32M $566.36 $7M -600 -1.0%
66 COF 0.23% 129,282 $31M $242.36 $5M +5,700 +4.6%
67 T 0.22% 1,248,460 $31M $24.84 -$3M +52,000 +4.3%
68 SCHW 0.22% 310,181 $31M $99.91 $3M +20,500 +7.1%
69 QCOM 0.22% 180,771 $31M $171.05 -$350K -7,200 -3.8%
70 SHOP 0.22% 191,408 $31M $161.23 $2M -4,450 -2.3%
71 VZ 0.22% 742,109 $30M $40.73 -$91K +52,300 +7.6%
72 BLK 0.22% 27,912 $30M $1,070.34 -$451K +1,900 +7.3%
73 KLAC 0.22% 24,564 $30M $1,215.08 $2M -1,200 -4.7%
74 BKNG 0.21% 5,524 $30M $5,355.33 $837K +200 +3.8%
75 APH 0.21% 218,589 $30M $135.14 $4M +8,650 +4.1%
76 INTU 0.21% 44,158 $29M $662.42 -$2M -900 -2.0%
77 AMGN 0.21% 88,159 $29M $327.31 $4M -1,100 -1.2%
78 GEV 0.21% 43,943 $29M $653.57 $592K -1,800 -3.9%
79 PH 0.21% 32,475 $29M $878.96 $7M +3,438 +11.8%
80 TD 0.21% 301,698 $28M $94.37 $5M +6,900 +2.3%
81 TJX 0.21% 184,966 $28M $153.61 $2M +2,000 +1.1%
82 ACN 0.20% 105,386 $28M $268.30 $7M +18,600 +21.4%
83 NOW 0.19% 175,415 $27M $153.19 -$10M +135,432 +338.7%
84 BSX 0.19% 280,181 $27M $95.35 $269K +9,300 +3.4%
85 NEE 0.19% 330,893 $27M $80.28 $2M +4,700 +1.4%
86 ANET 0.19% 198,550 $26M $131.03 -$547K +16,250 +8.9%
87 KURE 0.19% 1,520,129 $26M $17.04 -$6M
88 COP 0.19% 275,852 $26M $93.61 -$507K -2,500 -0.9%
89 UBER 0.19% 315,317 $26M $81.71 -$3M +17,425 +5.8%
90 WELL 0.18% 137,676 $26M $185.61 $1M +900 +0.7%
91 INTC 0.18% 688,623 $25M $36.90 $2M -4,100 -0.6%
92 ETN 0.18% 79,475 $25M $318.51 -$3M +3,150 +4.1%
93 PGR 0.18% 110,044 $25M $227.72 $748K +11,600 +11.8%
94 TXN 0.18% 143,941 $25M $173.49 $6M +42,200 +41.5%
95 ADI 0.18% 91,159 $25M $271.20 $777K -6,300 -6.5%
96 ADBE 0.18% 69,326 $24M $349.99 $7M +21,800 +45.9%
97 GILD 0.17% 195,915 $24M $122.74 $1M -8,700 -4.2%
98 APP 0.17% 35,600 $24M $673.82 -$2M -800 -2.2%
99 AEM 0.17% 141,252 $24M $169.80 -$3M -16,300 -10.3%
100 PFE 0.17% 962,063 $24M $24.90 -$520K +1,500 +0.2%

New Positions

SymbolValue% Port
VOO $757M 5.48%
RSP $327M 2.37%
BR $15M 0.11%
FNV $14M 0.10%
VRSK $13M 0.10%
WDC $13M 0.09%
XYL $13M 0.09%
STX $13M 0.09%
TTWO $13M 0.09%
WBD $12M 0.09%
KHC $12M 0.09%
GIB $12M 0.09%
VRT $12M 0.09%
KEYS $12M 0.09%
OXY $12M 0.08%

Sold Out Positions

SymbolValue% Port
FDX —%
WY —%
ZTS —%
APD —%
BURL —%
VICI —%
AVY —%
ONON —%
MRP —%
EFX —%
KVUE —%
CCI —%
CHD —%
ITW —%
PEG —%
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