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VMPIC

Varma Mutual Pension Insurance Co Portfolio holdings

AUM $17B
1-Year Est. Return 24.09%
This Fund
S&P 500
This Quarter Est. Return
+3.3%
1 Year Est. Return
+24.09%
3 Year Est. Return
+78.16%
5 Year Est. Return
+98.31%
10 Year Est. Return
–
AUM
$16.5B
AUM Growth
+$945M
Cap. Flow
+$575M
Cap. Flow %
3.48%
Top 10 Hldgs %
52.41%
Holding
344
New
32
Increased
153
Reduced
103
Closed
36

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$751M
2
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$324M
3
KLMN
Invesco MSCI North America Climate ETF
KLMN
+$222M
4
AAPL icon
Apple
AAPL
+$28M
5
BR icon
Broadridge
BR
+$15M

Top Sells

Rank Stock Value
1
EMCS
Xtrackers MSCI Emerging Markets Select ETF
EMCS
+$362M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$353M
3
ASHR icon
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
+$120M
4
ORCL icon
Oracle
ORCL
+$23.1M
5
ITW icon
Illinois Tool Works
ITW
+$13.8M

Sector Composition

Rank Sector Weight
1 Technology 21.05%
2 Financials 8.17%
3 Communication Services 6.6%
4 Consumer Discretionary 5.84%
5 Healthcare 5.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RY icon
51
Royal Bank of Canada
RY
$293B
$41.1M 0.25%
240,529
+2,600
+1% +$399K
AXP icon
52
American Express
AXP
$231B
$41M 0.25%
110,935
-2,700
-2% -$966K
C icon
53
Citigroup
C
$228B
$39.9M 0.24%
341,876
– –
LRCX icon
54
Lam Research
LRCX
$388B
$39.7M 0.24%
231,730
-27,100
-10% -$4.21M
MS icon
55
Morgan Stanley
MS
$339B
$39.3M 0.24%
221,412
+7,900
+4% +$1.32M
AMAT icon
56
Applied Materials
AMAT
$416B
$37.9M 0.23%
147,582
-11,600
-7% -$2.78M
TMO icon
57
Thermo Fisher Scientific
TMO
$223B
$36.6M 0.22%
63,217
-2,700
-4% -$1.53M
MCD icon
58
McDonald's
MCD
$193B
$36.2M 0.22%
118,366
+2,500
+2% +$766K
PEP icon
59
PepsiCo
PEP
$188B
$35.4M 0.21%
246,557
-12,300
-5% -$1.81M
ABT icon
60
Abbott
ABT
$190B
$35.3M 0.21%
281,652
+1,800
+0.6% +$229K
LIN icon
61
Linde
LIN
$227B
$33.9M 0.21%
79,585
-500
-0.6% -$214K
SPGI icon
62
S&P Global
SPGI
$120B
$33.7M 0.2%
64,507
+1,100
+2% +$544K
EMB icon
63
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$33.7M 0.2%
350,000
+150,000
+75% +$14.4M
DIS icon
64
Walt Disney
DIS
$178B
$33.1M 0.2%
290,594
+5,700
+2% +$628K
INDA icon
65
iShares MSCI India ETF
INDA
$6.6B
$32.9M 0.2%
607,910
– –
ISRG icon
66
Intuitive Surgical
ISRG
$141B
$32.4M 0.2%
57,253
-600
-1% -$319K
COF icon
67
Capital One
COF
$135B
$31.3M 0.19%
129,282
+5,700
+5% +$1.27M
T icon
68
AT&T
T
$167B
$31M 0.19%
1,248,460
+52,000
+4% +$1.32M
SCHW
69
Charles Schwab
SCHW
$187B
$31M 0.19%
310,181
+20,500
+7% +$1.94M
QCOM icon
70
Qualcomm
QCOM
$170B
$30.9M 0.19%
180,771
-7,200
-4% -$1.23M
SHOP icon
71
Shopify
SHOP
$197B
$30.9M 0.19%
191,408
-4,450
-2% -$714K
VZ icon
72
Verizon
VZ
$196B
$30.2M 0.18%
742,109
+52,300
+8% +$2.12M
BLK icon
73
Blackrock
BLK
$178B
$29.9M 0.18%
27,912
+1,900
+7% +$2.08M
KLAC icon
74
KLA
KLAC
$258B
$29.8M 0.18%
245,640
-12,000
-5% -$1.41M
BKNG icon
75
Booking.com
BKNG
$161B
$29.6M 0.18%
138,100
+5,000
+4% +$1.03M
1 2
3
4 5

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PP
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ASRS
Arizona State Retirement System Phoenix, Arizona $17.1B AUM 30.52% 1-Year Est. Return
CM
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Macquarie Group
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CI
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BBA
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EIP
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Varma Mutual Pension Insurance Co's Q4 2025 Portfolio in Review

As of Q4 2025, Varma Mutual Pension Insurance Co held 344 positions worth $16.5B, up 6.1% from $15.6B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Varma Mutual Pension Insurance Co deployed $575M of net new capital in Q4 2025, opening 32 new positions and adding to 153 existing holdings. Its largest new stake was Vanguard S&P 500 ETF: 1,207,700 shares worth $757M.

By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 21% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Xtrackers MSCI Emerging Markets Select ETF, an estimated $362M trimmed.

  • Varma Mutual Pension Insurance Co's largest Q4 2025 buy was Vanguard S&P 500 ETF: 1,207,700 shares worth $757M.
  • Varma Mutual Pension Insurance Co added most to Invesco MSCI North America Climate ETF in Q4 2025, an estimated $222M increase.
  • Varma Mutual Pension Insurance Co's biggest Q4 2025 reduction was Xtrackers MSCI Emerging Markets Select ETF, cutting an estimated $362M.
  • Varma Mutual Pension Insurance Co fully exited iShares Russell 2000 ETF in Q4 2025, selling an estimated $353M.
  • Varma Mutual Pension Insurance Co's ten largest holdings make up 52% of its $16.5B portfolio in Q4 2025.
  • Varma Mutual Pension Insurance Co opened 32 new positions and closed 36 in Q4 2025.
  • Varma Mutual Pension Insurance Co's portfolio value rose 6.1% quarter-over-quarter to $16.5B.

Based on Varma Mutual Pension Insurance Co's 13F filing for Q4 2025, filed 2 Feb 2026.