Q2 2026 13F · SEC CIK 1698484

Varma Mutual Pension Insurance Co

Pension fundFiled 2026-08-12 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $18.9B
Reported positions: 313
Top holdings a year, 3 yrs: +22.4%
Average holding period: 2.2 yrs

Varma Mutual Pension Insurance Co is a pension fund that reported 313 positions worth $18.9B in its Q2 2026 13F, filed 2026-08-12. Its largest holdings were Invesco Exch Traded Fd Tr II (KLMN, 13.4%), Invesco Exch Traded Fd Tr II (KLMT, 8.2%), Ishares Tr (IGV, 7.3%). A portfolio copying its top holdings returned 22.4% a year over the last 3 years, against 20.4% for the S&P 500.

Varma Mutual Pension Insurance Co holdings largest 50 of 313 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Varma Mutual Pension Insurance Co 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
KLMNInvesco Exch Traded Fd Tr II	13.4%	8.8%	82,227,516	+46.7%	$2.5B
KLMTInvesco Exch Traded Fd Tr II	8.2%	7.9%	44,931,497	+0.0%	$1.6B
IGVIshares Tr	7.3%	9.6%	15,248,262	-25.1%	$1.4B
EMCSDbx ETF Tr	5.1%	4.5%	20,621,177	+0.0%	$967.3M
NVDANvidia Corporation	4.2%	4.0%	3,920,566	+0.3%	$784.5M
AAPLApple Inc	3.8%	3.7%	2,484,883	-1.3%	$719.0M
RSPInvesco Exchange Traded Fd T	3.0%	—	2,673,800	—	$568.9M
GOOGLAlphabet Inc	3.0%	2.7%	1,570,599	-2.0%	$561.3M
MSFTMicrosoft Corp	2.3%	2.5%	1,141,076	-2.3%	$425.6M
AMZNAmazon Com Inc	2.2%	2.0%	1,721,811	+3.9%	$410.4M
LCTUBlackrock ETF Trust	2.0%	2.0%	4,814,000	+0.0%	$385.9M
00461E107Invesco Advantage Mun Income	1.5%	—	380,000	—	$279.8M
AVGOBroadcom Inc	1.3%	1.1%	641,830	+3.2%	$242.5M
METAMeta Platforms Inc	1.1%	1.3%	374,094	-1.8%	$210.7M
TSMTaiwan Semiconductor Manufac	0.9%	0.7%	372,800	+2.2%	$178.0M
TSLATesla Inc	0.9%	0.9%	413,723	-0.1%	$174.0M
MUMicron Technology Inc	0.8%	0.3%	138,071	-18.8%	$159.4M
JPMJpmorgan Chase & Co	0.8%	0.8%	461,411	+2.4%	$151.0M
LLYEli Lilly & Co	0.7%	0.6%	115,868	-1.7%	$139.0M
AMDAdvanced Micro Devices Inc	0.7%	0.3%	230,717	-5.0%	$134.0M
VVisa Inc	0.5%	0.5%	300,341	+3.1%	$103.0M
JNJJohnson & Johnson	0.5%	0.5%	386,656	+1.4%	$98.2M
AMATApplied Matls Inc	0.5%	0.3%	134,482	-14.1%	$97.2M
XOMExxon Mobil Corp	0.5%	0.7%	667,203	+0.7%	$91.2M
INTCIntel Corp	0.5%	—	652,423	—	$91.1M
INDAIshares Tr	0.5%	—	1,804,110	—	$89.1M
LRCXLam Research Corp	0.5%	0.3%	201,030	-16.8%	$87.1M
VWOBVanguard Whitehall Fds	0.4%	0.5%	1,250,000	+0.0%	$84.0M
EMLCVaneck ETF Trust	0.4%	0.5%	3,100,000	+0.0%	$79.2M
CATCaterpillar Inc	0.4%	0.3%	74,116	-3.0%	$78.9M
WMTWalmart Inc	0.4%	0.5%	680,366	+2.3%	$77.1M
MAMastercard Incorporated	0.4%	0.4%	150,008	+1.2%	$77.0M
CSCOCisco Sys Inc	0.4%	0.3%	626,147	+2.3%	$73.5M
VCEBVanguard Esg U.s. Corporate Bond ETF	0.4%	0.4%	1,100,000	+0.0%	$69.0M
BACBank of Amer Corp	0.4%	0.3%	1,209,724	+1.1%	$68.9M
ABBVAbbvie Inc	0.4%	0.3%	270,367	+1.4%	$68.0M
GOOGAlphabet Inc	0.4%	0.3%	190,914	+0.0%	$67.5M
KLACKla Corp	0.4%	—	222,640	—	$67.2M
XLESelect Sector Spdr Tr	0.3%	5.1%	1,196,643	-91.5%	$63.6M
HDHome Depot Inc	0.3%	0.3%	173,295	+15.5%	$61.1M
UNHUnitedhealth Group Inc	0.3%	—	146,662	—	$61.0M
COSTCostco Wholesale Corporation	0.3%	0.4%	63,957	+0.0%	$59.8M
GEGe Aerospace	0.3%	0.3%	153,445	-11.7%	$57.3M
KSTRKraneshares Trust	0.3%	—	1,740,631	—	$56.3M
GSGoldman Sachs Group Inc	0.3%	—	55,400	—	$56.0M
PGProcter & Gamble Co	0.3%	0.3%	368,855	-2.6%	$54.1M
KOCoca Cola Co	0.3%	0.3%	662,576	-6.3%	$53.8M
ECHIshares Inc	0.3%	0.3%	1,294,477	+0.0%	$51.4M
MRKMerck & Co Inc	0.3%	0.3%	399,574	-1.8%	$51.3M
CVXChevron Corporation	0.3%	0.4%	309,236	+0.3%	$51.3M

What Varma Mutual Pension Insurance Co bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +21.6% /yr; S&P 500 +20.1%
3 years: +22.4% /yr; S&P 500 +20.4%
5 years: +13.4% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$18.9B	313
Q1 2026	$17.1B	319
Q4 2025	$16.5B	308
Q3 2025	$15.6B	312
Q2 2025	$13.6B	309
Q1 2025	$11.6B	318
Q4 2024	$13.2B	320
Q3 2024	$12.6B	316
Q2 2024	$12.4B	344
Q1 2024	$11.5B	354
Q4 2023	$8.9B	278
Q3 2023	$8.3B	207

Questions about Varma Mutual Pension Insurance Co's portfolio

What stocks does Varma Mutual Pension Insurance Co own?

Varma Mutual Pension Insurance Co's latest 13F, for Q2 2026 and filed Aug 12, 2026, lists 313 positions worth $18.9B. The largest are Invesco Exch Traded Fd Tr II (KLMN) at 13.4%, Invesco Exch Traded Fd Tr II (KLMT) at 8.2%, Ishares Tr (IGV) at 7.3%, Dbx ETF Tr (EMCS) at 5.1% and Nvidia Corporation (NVDA) at 4.2%.

What did Varma Mutual Pension Insurance Co buy last quarter?

In Q2 2026, Varma Mutual Pension Insurance Co added Invesco Exch Traded Fd Tr II (KLMN) (+46.7% shares) and Home Depot Inc (HD) (+15.5% shares), compared with its Q1 2026 filing.

What did Varma Mutual Pension Insurance Co sell last quarter?

In Q2 2026, Varma Mutual Pension Insurance Co cut from its top 50 Kraneshares Trust (KWEB), cut from its top 50 Invesco Qqq Tr (QQQ), cut from its top 50 Vanguard Scottsdale Fds (VCIT), cut from its top 50 Vanguard Long-Term Corporate Bond ETF (VCLT), cut from its top 50 Ishares Inc (EWZ), Select Sector Spdr Tr (XLE) (-91.5% shares), Ishares Tr (IGV) (-25.1% shares) and Micron Technology Inc (MU) (-18.8% shares), compared with its Q1 2026 filing.

How has Varma Mutual Pension Insurance Co's portfolio performed?

A portfolio copying Varma Mutual Pension Insurance Co's 20 largest 13F holdings each quarter, from the day each filing was public, returned +22.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +21.6% against +20.1%. Over 5 years: +13.4% a year against +11.6%.

When is Varma Mutual Pension Insurance Co's next 13F filing due?

13F filings are due 45 days after each quarter ends. Varma Mutual Pension Insurance Co's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.