FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND

CIK 0001540880 · Q2 2026

13F Equity AUM

$20.9B

+14.1% QoQ

Positions

518

-15 QoQ

AUM Rank

#334

Top 4%

Skill Alpha (FF)

-0.0%/yr^ns

No Clear Edge

Rank #2,847 · Top 34%

vs S&P +0.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 21.4%Top 10: 31.4%Top 20: 43.7%

NVDA6.3%

AAPL5.7%

MSFT3.8%

AMZN2.9%

GOOGL2.8%

AVGO2.5%

GOOG2.2%

META1.9%

MU1.7%

IEMG1.6%

Others (508)68.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology37.4%

Financial Services13.7%

Healthcare10.8%

Communication Services10.1%

Consumer Cyclical8.0%

Industrials7.7%

Consumer Defensive5.6%

Other6.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 518Median: 0.06%Avg: 0.19%

0–0.5%

482(45.1%)

0.5–1%

18(13.1%)

1–3%

15(26.0%)

3–5%

1(3.8%)

5%+

2(12.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 518vs 20 funds

0%Low

518

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New6Increased256Decreased226Exited19

New Positions

CARNIVAL CORP0.0%

+305K

MDLN0.0%

+106K

VERSIGENT LTD0.0%

+77K

CRCL0.0%

+45K

DUPONT DE NEMOURS IN…0.0%

+18K

CRUS0.0%

+6K

Increased

KLAC0.8%

+498K(+883%)

PFE0.2%

+458K(+32%)

BMY0.3%

+398K(+67%)

F0.1%

+279K(+27%)

BKR0.4%

+253K(+22%)

AVGO2.5%

+239K(+21%)

BKNG0.2%

+209K(+2353%)

GILD0.4%

+202K(+43%)

NI0.1%

+150K(+44%)

CVNA0.1%

+129K(+398%)

Decreased

IEMG1.6%

-2,708,224(-39%)

SNAP0.0%

-274,233(-92%)

GIS0.0%

-268,700(-51%)

UBER0.2%

-262,600(-29%)

NVDA6.3%

-249,800(-4%)

ABT0.3%

-214,700(-24%)

PINS0.0%

-198,400(-98%)

DOC0.0%

-190,500(-94%)

CSCO1.1%

-185,800(-8%)

HRL0.0%

-175,752(-89%)

Exited

-207,650

-114,900

-91,100

-83,650

-23,330

-307,700

-44,800

-181,286

-32,500

-254,100

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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