Varma Mutual Pension Insurance portfolio

What changed this quarter

301 positions with a change (32 new, 106 added to, 124 trimmed, 39 sold); also, 2 entered through an IPO, 1 exited through an acquisition or merger. 7 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Invesco Msci N AMR Climt ETF+47%more sharesIncreased
  8.8% → 13.4%
• State Street Energy Select Sector ETF−91%fewer sharesReduced
  5.1% → 0.3%
• Invesco Exchange Traded Fund T+3.0 ppof portfolioNew
  — → 3.0%
• iShares Expanded Tech-softwa ETF−25%fewer sharesReduced
  9.6% → 7.3%
• Kranesh CSI China Internet ETF−1.3 ppof portfolioSold out
  1.5% → —
• Vanguard Int-term Corporate ETF−1.2 ppof portfolioSold out
  1.3% → —
• Vanguard Long-term Corp Bond ETF−0.6 ppof portfolioSold out
  0.7% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Invesco Msci N AMR Climt ETFKLMN13.4%
• Invesco Msci GL CLM 500 ETFKLMT8.2%
• iShares Expanded Tech-softwa ETFIGV7.3%
• DBX ETF TrEMCS5.1%
• NVIDIANVDA4.2%
• AppleAAPL3.8%
• AlphabetGOOGL · GOOG3.3%
• Invesco Exchange Traded Fund TRSP3.0%
• MicrosoftMSFT2.3%
• Amazon.comAMZN2.2%
• BlackRock ETF TrustLCTU2.0%
• Invesco Advantage MUN Income1.5%
• BroadcomAVGO1.3%
• Meta PlatformsMETA1.1%
• Taiwan Semiconductor ManufacturingTSM0.9%
• TeslaTSLA0.9%
• Micron TechnologyMU0.8%
• JPMorgan ChaseJPM0.8%
• Eli LillyLLY0.7%
• Advanced Micro DevicesAMD0.7%
• VisaV0.5%
• Johnson & JohnsonJNJ0.5%
• Applied MaterialsAMAT0.5%
• Exxon MobilXOM0.5%
• IntelINTC0.5%
• iShares Msci India ETFINDA0.5%
• Lam ResearchLRCX0.5%
• Vanguard Emerg Mkts GOV BND ETFVWOB0.4%
• Vaneck ETF TrustEMLC0.4%
• CaterpillarCAT0.4%
• WalmartWMT0.4%
• MastercardMA0.4%
• Cisco SystemsCSCO0.4%
• Vanguard ESG US Corp Bond ETFVCEB0.4%
• Bank of AmericaBAC0.4%
• AbbVieABBV0.4%
• KLAKLAC0.4%
• State Street Energy Select Sector ETFXLE0.3%
• Home DepotHD0.3%
• UnitedHealth GroupUNH0.3%
• Costco WholesaleCOST0.3%
• GE AerospaceGE0.3%
• Kraneshares China Technology ETFKSTR0.3%
• Goldman Sachs GroupGS0.3%
• Procter & GamblePG0.3%
• Coca-ColaKO0.3%
• IsharesECH0.3%
• MerckMRK0.3%
• ChevronCVX0.3%
• Royal Bank of CanadaRY0.3%
• GE VernovaGEV0.3%
• Morgan StanleyMS0.2%
• NetflixNFLX0.2%
• CitigroupC0.2%
• Texas InstrumentsTXN0.2%
• Wells FargoWFC0.2%
• Philip Morris InternationalPM0.2%
• RTX0.2%
• Palo Alto NetworksPANW0.2%
• Marvell TechnologyMRVL0.2%
• International Business MachinesIBM0.2%
• American ExpressAXP0.2%
• Palantir TechnologiesPLTR0.2%
• LindeLIN0.2%
• Toronto Dominion BankTD0.2%
• CorningGLW0.2%
• Western DigitalWDC0.2%
• OracleORCL0.2%
• AmphenolAPH0.2%
• IsharesEWY0.2%
• AmgenAMGN0.2%
• iShares JP Morgan USD Emergi ETFEMB0.2%
• Analog DevicesADI0.2%
• Seagate Technology HoldingsSTX0.2%
• EatonETN0.2%
• QualcommQCOM0.2%
• Arista NetworksANET0.2%
• PepsicoPEP0.2%
• Thermo Fisher ScientificTMO0.2%
• Verizon CommunicationsVZ0.2%
• CrowdStrike HoldingsCRWD0.2%
• WelltowerWELL0.2%
• Charles SchwabSCHW0.2%
• Walt DisneyDIS0.2%
• State Street SPDR Bloomberg ETFEBND0.2%
• Dell TechnologiesDELL0.2%
• DeereDE0.2%
• Abbott LaboratoriesABT0.2%
• BlackRockBLK0.1%
• Union PacificUNP0.1%
• S&P GlobalSPGI0.1%
• McDONALD’SMCD0.1%
• Nextera EnergyNEE0.1%
• Gilead SciencesGILD0.1%
• ConocoPhillipsCOP0.1%
• Parker-hannifinPH0.1%
• At&tT0.1%
• PfizerPFE0.1%
• Freeport-McMoRanFCX0.1%