FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND

Pension

CIK

1540880

Location

STOCKHOLM, V7

Portfolio Value

Large $17,287,885,173

Diversification

Diversified

Filing Date

Global Rank

#301 / 8,617 ▲ 93 · as of Mar 2026

Top Industry

Semiconductors 11.7%

3Y Alpha vs SPY

-3.9%

Period ended 4 months ago

Filed Apr 27, 2026 · 3mo

24 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+55.4%

SPY

+69.4%

Annualised alpha

-3.4%

Max drawdown

−18.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

531 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.9%

−0.1 pts

Top 5

23.0%

−1.3 pts

Top 10

32.4%

−1.7 pts

HHI

164

Diversified−13

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	33.9%	$5,868,338,885	105
Financial Services	14.0%	$2,428,917,174	83
Healthcare	12.7%	$2,192,137,086	60
Communication Services	9.4%	$1,619,747,852	27
Consumer Cyclical	8.9%	$1,537,661,510	60
Industrials	7.7%	$1,326,012,926	75
Consumer Defensive	7.0%	$1,210,602,108	31
Real Estate	2.0%	$351,429,588	35
Utilities	1.8%	$304,587,938	28
Basic Materials	1.7%	$296,202,334	21
Energy	0.8%	$144,104,711	5
Unclassified	0.0%	$8,143,061	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	+2,598,850	6,809,899	$1,187,646,385
AAPL	Apple Inc.	+1,552,500	4,090,648	$1,038,165,555
T	At&T Inc.	+1,225,650	3,521,120	$102,077,268
AMZN	Amazon Com Inc	+955,300	2,463,475	$513,067,938
CSCO	Cisco Systems, Inc.	+815,200	2,188,717	$169,822,552
MSFT	Microsoft Corp	+803,530	2,071,039	$766,636,506
KO	Coca Cola Co	+751,250	2,058,856	$156,575,998
VZ	Verizon Communications Inc	+707,275	1,828,588	$91,795,117
NFLX	Netflix Inc	+697,325	1,842,995	$177,203,969
WMT	Walmart Inc.	+664,250	1,762,821	$219,083,393
BAC	Bank Of America Corp /De/	+647,950	1,761,130	$85,855,087
GOOGL	Alphabet Inc.	+631,940	1,648,994	$474,184,714
PFE	Pfizer Inc	+519,500	1,441,271	$40,470,889
PG	PROCTER & GAMBLE Co	+448,550	1,184,928	$171,151,000
AVGO	Broadcom Inc.	+438,280	1,141,003	$353,151,838
JNJ	Johnson & Johnson	+419,769	1,215,969	$297,231,462
INTC	Intel Corp	+415,023	1,133,034	$50,000,790
EXC	Exelon Corp	+387,450	774,076	$37,945,205
MRK	Merck & Co., Inc.	+385,150	1,182,179	$142,204,311
CMCSA	Comcast Corp	+378,864	969,115	$27,823,291
UBER	Uber Technologies, Inc	+369,550	921,383	$66,275,079
ABT	Abbott Laboratories	+336,450	884,654	$90,827,426
V	Visa Inc.	+329,153	866,330	$261,839,579
HBAN	Huntington Bancshares Inc /Md/	+322,750	512,713	$8,023,958
WFC	Wells Fargo & Company/Mn	+316,150	838,029	$66,715,488
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
DT	Dynatrace, Inc.	−159,250	2,496	$92,302
BSY	Bentley Systems Inc	−131,881	1,125	$39,510
ELS	Equity Lifestyle Properties Inc	−68,700	3,339	$208,420
AMCR	Amcor plc	−63,801	91,899	$3,652,985
AMH	American Homes 4 Rent	−62,550	10,650	$297,348
DOCU	Docusign, Inc.	−56,086	3,614	$171,339
NTNX	Nutanix, Inc.	−48,200	1,500	$57,015
BAX	Baxter International Inc	−44,234	300	$5,040
BAH	Booz Allen Hamilton Holding Corp	−30,600	664	$51,811
PAYC	Paycom Software, Inc.	−23,051	109	$13,247
ARE	Alexandria Real Estate Equities, Inc.	−20,488	1,000	$46,420
AFG	American Financial Group Inc	−19,800	2,458	$313,911
BXP	BXP, Inc.	−18,185	515	$26,728
SJM	J M SMUCKER Co	−13,677	100	$9,644
VRT	Vertiv Holdings Co	−1,794	89,106	$22,328,181
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SPOT	Spotify Technology S.A.	185,000	$89,708,350
SO	Southern Co	207,650	$20,042,378
LITE	Lumentum Holdings Inc.	18,700	$13,141,612
NEM	NEWMONT Corp /DE/	114,900	$12,437,925
DUK	Duke Energy CORP	83,650	$10,953,131
PCAR	Paccar Inc	91,100	$10,522,050
COHR	Coherent Corp.	37,500	$8,932,875
ES	Eversource Energy	121,950	$8,448,696
DTE	Dte Energy Co	57,550	$8,414,961
SLB	Slb Limited/Nv	163,200	$8,386,848
J	Jacobs Solutions Inc.	63,800	$8,120,464
CHRW	C. H. Robinson Worldwide, Inc.	43,800	$7,273,866
HAL	Halliburton Co	186,100	$7,256,039
AEP	American Electric Power Co Inc	54,350	$7,124,198
SRE	Sempra	70,650	$6,865,060
APD	Air Products & Chemicals, Inc.	23,330	$6,777,131
EXPD	Expeditors International Of Washington Inc	44,800	$6,416,704
FDX	Fedex Corp	22,250	$6,385,983
LYB	LyondellBasell Industries N.V.	74,600	$6,009,776
ATO	Atmos Energy Corp	32,500	$6,003,400
FTAI	FTAI Aviation Ltd.	23,600	$5,782,000
CW	Curtiss Wright Corp	8,440	$5,748,652
CASY	Caseys General Stores Inc	7,480	$5,444,392
WEC	Wec Energy Group, Inc.	47,000	$5,441,190
ASTS	AST SpaceMobile, Inc.	61,900	$5,129,653
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
TIGO	Millicom International Cellular SA	1,000,000	$55,440,000
HOLX	HOLOGIC INC	101,614	$7,569,226
WIX	Wix.com Ltd.	27,186	$2,824,353
MDLN	Medline Inc.	45,000	$1,890,000
NAVN	Navan, Inc.	100,000	$1,708,000
MRP	Millrose Properties, Inc.	6,393	$190,958
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

531 positions · $17,287,885,173 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 531 positions by value · page 1 of 11

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	6,809,899	+2,598,850	$1,187,646,385	+51.2%	6.87%
AAPL	Apple Inc. Technology	Added	4,090,648	+1,552,500	$1,038,165,555	+50.5%	6.01%
MSFT	Microsoft Corp Technology	Added	2,071,039	+803,530	$766,636,506	+25.1%	4.43%
AMZN	Amazon Com Inc Consumer Cyclical	Added	2,463,475	+955,300	$513,067,938	+47.4%	2.97%
GOOGL	Alphabet Inc. Communication Services	Added	1,648,994	+631,940	$474,184,714	+49.0%	2.74%
META	Meta Platforms, Inc. Communication Services	Added	696,047	+266,260	$398,229,370	+40.4%	2.30%
AVGO	Broadcom Inc. Technology	Added	1,141,003	+438,280	$353,151,838	+45.2%	2.04%
LLY	ELI LILLY & Co Healthcare	Added	344,542	+130,006	$316,899,395	+37.4%	1.83%
JNJ	Johnson & Johnson Healthcare	Added	1,215,969	+419,769	$297,231,462	+80.4%	1.72%
V	Visa Inc. Financial Services	Added	866,330	+329,153	$261,839,579	+39.0%	1.51%
WMT	Walmart Inc. Consumer Defensive	Added	1,762,821	+664,250	$219,083,393	+79.0%	1.27%
JPM	Jpmorgan Chase & Co Financial Services	Added	692,247	+254,060	$203,631,377	+44.2%	1.18%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	415,039	+161,140	$198,886,688	+55.8%	1.15%
MA	Mastercard Inc Financial Services	Added	368,812	+140,742	$184,280,603	+41.5%	1.07%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	182,526	+68,110	$181,874,382	+84.3%	1.05%
NFLX	Netflix Inc Communication Services	Added	1,842,995	+697,325	$177,203,969	+65.0%	1.03%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	1,184,928	+448,550	$171,151,000	+62.2%	0.99%
CSCO	Cisco Systems, Inc. Technology	Added	2,188,717	+815,200	$169,822,552	+60.5%	0.98%
KO	Coca Cola Co Consumer Defensive	Added	2,058,856	+751,250	$156,575,998	+71.3%	0.91%
MRK	Merck & Co., Inc. Healthcare	Added	1,182,179	+385,150	$142,204,311	+69.5%	0.82%
CAT	Caterpillar Inc Industrials	Added	187,564	+69,640	$132,881,591	+96.7%	0.77%
LRCX	Lam Research Corp Technology	Added	583,010	+225,050	$124,565,916	+103.3%	0.72%
PEP	Pepsico Inc Consumer Defensive	Added	772,134	+290,050	$119,904,688	+73.3%	0.69%
ABBV	AbbVie Inc. Healthcare	Added	532,925	+208,281	$115,905,858	+56.3%	0.67%
AMAT	Applied Materials Inc /De Technology	Added	332,858	+123,800	$113,767,535	+111.8%	0.66%
T	At&T Inc. Communication Services	Added	3,521,120	+1,225,650	$102,077,268	+79.0%	0.59%
UNH	Unitedhealth Group Inc Healthcare	Added	374,508	+132,930	$101,338,119	+27.1%	0.59%
TSLA	Tesla, Inc. Consumer Cyclical	Added	265,468	+111,106	$98,687,729	+42.2%	0.57%
MU	Micron Technology Inc Technology	Added	290,887	+112,300	$98,273,264	+92.8%	0.57%
LIN	Linde PLC Basic Materials	Added	196,087	+66,260	$97,212,091	+75.6%	0.56%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	591,418	+219,250	$94,449,454	+65.2%	0.55%
MCD	Mcdonalds Corp Consumer Cyclical	Added	301,720	+112,710	$93,771,558	+62.3%	0.54%
VZ	Verizon Communications Inc Communication Services	Added	1,828,588	+707,275	$91,795,117	+101.0%	0.53%
ABT	Abbott Laboratories Healthcare	Added	884,654	+336,450	$90,827,426	+32.2%	0.53%
SPOT	Spotify Technology S.A. Communication Services	NEW	185,000	NEW	$89,708,350	NEW	0.52%
BAC	Bank Of America Corp /De/ Financial Services	Added	1,761,130	+647,950	$85,855,087	+40.2%	0.50%
HD	Home Depot, Inc. Consumer Cyclical	Added	259,680	+99,470	$85,406,155	+54.9%	0.49%
PLTR	Palantir Technologies Inc. Technology	Added	579,273	+223,750	$84,736,054	+34.1%	0.49%
APH	Amphenol Corp /De/ Technology	Added	664,039	+226,550	$83,901,327	+41.9%	0.49%
AMD	Advanced Micro Devices Inc Technology	Added	412,133	+158,931	$83,840,216	+54.6%	0.48%
IBM	International Business Machines Corp Technology	Added	327,241	+122,120	$79,319,945	+30.5%	0.46%
CME	Cme Group Inc. Financial Services	Added	254,747	+93,270	$75,239,526	+70.6%	0.44%
GE	General Electric Co Industrials	Added	261,164	+100,063	$74,110,508	+49.3%	0.43%
PGR	Progressive Corp/Oh/ Financial Services	Added	371,370	+132,400	$73,620,388	+35.3%	0.43%
CB	Chubb Ltd Financial Services	Added	218,406	+81,660	$71,185,067	+66.8%	0.41%
BKR	Baker Hughes Co Energy	Added	1,159,303	+84,500	$70,775,448	+44.6%	0.41%
TXN	Texas Instruments Inc Technology	Added	354,431	+133,400	$68,809,234	+79.4%	0.40%
ORCL	Oracle Corp Technology	Added	459,882	+182,050	$67,653,241	+24.9%	0.39%
VRTX	Vertex Pharmaceuticals Inc / Ma Healthcare	Added	149,962	+60,900	$66,964,031	+65.8%	0.39%
MCK	Mckesson Corp Healthcare	Added	77,237	+21,544	$66,837,810	+46.3%	0.39%