SEC 13F Intelligence

Managers / Q3 2025 · view latest →

FORSTA AP-FONDEN

CIK 0001603328 · REGERINGSGATAN 67, STOCKHOLM, V7, 11156 · 0046856620200

Reported Value
$16.9B
Q3 2025
Positions
550
Filings on Record
31
2019–present window
Filed
Nov 10, 2025
original filing

Summary

Forsta Ap-Fonden reported $16.9B in U.S.-listed holdings across 550 positions for Q3 2025.

Its largest position, NVDA, represents 7.6% of the portfolio.

Compared with Q2 2025, the fund opened 4 new positions and exited 11.

Portfolio Metrics

Turnover
+3.3%
vs prior filed quarter
Top-10 Concentration
+42.1%
share of reported value
Largest Position
+7.6%
Nvidia
New / Exited
4 / 11
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $2.3BQ1 ’19Q2 ’19: $2.2BQ3 ’19: $2.4BQ4 ’19: $2.0BQ1 ’20: $2.8BQ1 ’20Q2 ’20: $3.8BQ3 ’20: $4.8BQ4 ’20: $6.6BQ1 ’21: $7.1BQ1 ’21Q2 ’21: $8.5BQ3 ’21: $8.8BQ4 ’21: $9.9BQ1 ’22: $8.8BQ1 ’22Q2 ’22: $7.7BQ3 ’22: $8.2BQ4 ’22: $8.9BQ1 ’23: $8.5BQ1 ’23Q2 ’23: $9.3BQ3 ’23: $9.0BQ4 ’23: $9.9BQ1 ’24: $11.8BQ1 ’24Q2 ’24: $11.3BQ3 ’24: $13.0BQ4 ’24: $14.1BQ1 ’25: $13.2BQ1 ’25Q2 ’25: $15.2BQ3 ’25: $16.9BQ4 ’25: $16.8BQ1 ’26: $0Q1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 97.9%REIT: 2.0%Other: 0.0%Tracking Stk: 0.0%
  • Common Stock · 97.9% · $16.5B
  • REIT · 2.0% · $343M
  • Other · 0.0% · $5M
  • Tracking Stk · 0.0% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AFRMAffirm Holdings IncNEW+93.2K93.2K+$7M$7M
SOFISoFi Technologies IncNEW+237.5K237.5K+$6M$6M
TPRTapestry IncNEW+46.9K46.9K+$5M$5M
RKLBRocket Lab CorpNEW+92.9K92.9K+$4M$4M
JKHYJack Henry & Associates IncADDED+29.7K43.3K+$4M$6M
CLXClorox Co/TheADDED+59.0K87.6K+$7M$11M
WDCWestern Digital CorpADDED+134.7K204.4K+$20M$25M
DPZDomino's Pizza IncADDED+13.2K21.0K+$6M$9M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

497 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA Corphistory →COM7.58%$1.3B6.85M
2AAPLApple Inchistory →COM6.25%$1.1B4.14M
3SPOTSpotify Technology SAhistory →SHS6.03%$1.0B1.46M
4MSFTMicrosoft Corphistory →COM5.97%$1.0B1.94M
5GOOGLAlphabet IncCAP STK CL A · CAP STK CL C4.33%$730M3.00M
6AMZNAmazon.com Inchistory →COM3.49%$589M2.68M
7METAMeta Platforms Inchistory →CL A2.65%$447M609.1K
8AVGOBroadcom Inchistory →COM2.38%$401M1.22M
9TSLATesla Inchistory →COM2.03%$342M770.0K
10JPMJPMorgan Chase & Cohistory →COM1.38%$232M735.0K
11LLYEli Lilly & Cohistory →COM1.06%$178M233.4K
12BRK/BBerkshire Hathaway Inchistory →CL B NEW1.05%$177M351.3K
13VVisa Inchistory →COM CL A1.03%$174M508.8K
14NFLXNetflix Inchistory →COM0.91%$153M127.5K
15MAMastercard Inchistory →CL A0.86%$146M256.3K
16ORCLOracle Corphistory →COM0.72%$121M430.9K
17WMTWalmart Inchistory →COM0.70%$119M1.15M
18PLTRPalantir Technologies Inchistory →CL A0.67%$113M618.2K
19COSTCostco Wholesale Corphistory →COM0.67%$112M121.4K
20JNJJohnson & Johnsonhistory →COM0.67%$112M604.8K
21HDHome Depot Inc/Thehistory →COM0.61%$102M252.6K
22ABBVAbbVie Inchistory →COM0.60%$101M436.4K
23BACBank of America Corphistory →COM0.54%$91M1.76M
24PGProcter & Gamble Co/Thehistory →COM0.53%$89M580.6K
25General Electric CoCOM NEW0.53%$89M294.8K
26GSGoldman Sachs Group Inc/Thehistory →COM0.45%$77M96.3K
27ABTAbbott Laboratorieshistory →COM0.45%$75M563.2K
28UNHUnitedHealth Group Inchistory →COM0.45%$75M217.5K
29CRMSalesforce Inchistory →COM0.44%$74M311.3K
30MRKMerck & Co Inchistory →COM0.41%$70M831.8K
31CSCOCisco Systems Inchistory →COM0.40%$68M995.8K
32KOCoca-Cola Co/Thehistory →COM0.39%$65M987.5K
33CATCaterpillar Inchistory →COM0.39%$65M137.2K
34VZVerizon Communications Inchistory →COM0.39%$65M1.49M
35INTUIntuit Inchistory →COM0.38%$65M94.8K
36WFCWells Fargo & Cohistory →COM0.38%$64M760.6K
37AMDAdvanced Micro Devices Inchistory →COM0.37%$62M384.2K
38LRCXLam Research Corphistory →COM NEW0.37%$62M463.8K
39IBMIBMhistory →COM0.37%$62M219.8K
40QCOMQUALCOMM Inchistory →COM0.36%$61M368.2K
41APPAppLovin Corphistory →COM CL A0.35%$59M82.7K
42GEVGE Vernova Inchistory →COM0.35%$59M95.3K
43UBERUber Technologies Inchistory →COM0.34%$57M582.1K
44AXPAmerican Express Cohistory →COM0.33%$56M168.0K
45MCDMcDonald's Corphistory →COM0.33%$56M183.1K
46DISWalt Disney Co/Thehistory →COM0.32%$54M471.4K
47BKNGBooking Holdings Inchistory →COM0.30%$51M9.5K
48LINLinde PLChistory →SHS0.30%$51M107.7K
49PGRProgressive Corp/Thehistory →COM0.30%$51M206.0K
50LOWLowe's Cos Inchistory →COM0.29%$48M192.5K
51KLACKLA Corphistory →COM NEW0.29%$48M44.6K
52PEPPepsiCo Inchistory →COM0.28%$48M338.3K
53NOWServiceNow Inchistory →COM0.28%$47M51.6K
54ANETArista Networks Inchistory →COM SHS0.28%$47M325.4K
55TAT&T Inchistory →COM0.28%$47M1.65M
56RYRoyal Bank of Canadahistory →COM0.28%$46M315.1K
57TJXTJX Cos Inc/Thehistory →COM0.27%$46M318.1K
58ACNAccenture PLChistory →SHS CLASS A0.27%$45M183.2K
59SCHWCharles Schwab Corp/Thehistory →COM0.26%$44M466.0K
60AMATApplied Materials Inchistory →COM0.26%$44M215.0K
61ADBEAdobe Inchistory →COM0.26%$44M124.6K
62ADPAutomatic Data Processing Inchistory →COM0.26%$44M148.5K
63HOODRobinhood Markets Inchistory →COM CL A0.25%$43M298.7K
64ETNEaton Corp PLChistory →SHS0.25%$42M112.3K
65SHOPShopify Inchistory →CL A SUB VTG SHS0.25%$42M282.3K
66BLKBlackrock Inchistory →COM0.25%$42M35.6K
67MSMorgan Stanleyhistory →COM NEW0.24%$41M259.6K
68TMUST-Mobile US Inchistory →COM0.24%$41M172.1K
69ISRGIntuitive Surgical Inchistory →COM NEW0.24%$41M91.9K
70SPGIS&P Global Inchistory →COM0.24%$41M84.3K
71MELIMercadoLibre Inchistory →COM0.24%$41M17.5K
72WELLWelltower Inchistory →COM0.24%$41M228.8K
73CCitigroup Inchistory →COM NEW0.24%$40M398.0K
74MUMicron Technology Inchistory →COM0.24%$40M239.6K
75CEGConstellation Energy Corphistory →COM0.24%$40M121.0K
76APHAmphenol Corphistory →CL A0.23%$39M313.0K
77TMOThermo Fisher Scientific Inchistory →COM0.23%$39M79.6K
78TTTrane Technologies PLChistory →SHS0.23%$39M91.3K
79CRHCRH PLChistory →ORD0.22%$37M304.5K
80TXNTexas Instruments Inchistory →COM0.22%$36M198.3K
81AMTAmerican Tower Corphistory →COM0.22%$36M188.8K
82BSXBoston Scientific Corphistory →COM0.21%$36M366.1K
83PFEPfizer Inchistory →COM0.21%$35M1.38M
84MDTMedtronic PLChistory →SHS0.20%$34M361.2K
85MMM3M Cohistory →COM0.20%$34M218.8K
86NEENextEra Energy Inchistory →COM0.20%$34M444.3K
87SYKStryker Corphistory →COM0.20%$33M89.6K
88HWMHowmet Aerospace Inchistory →COM0.19%$33M167.5K
89AMGNAmgen Inchistory →COM0.19%$33M116.0K
90CMCSAComcast Corphistory →CL A0.19%$32M1.03M
91SHWSherwin-Williams Co/Thehistory →COM0.19%$32M92.8K
92SOSouthern Co/Thehistory →COM0.19%$32M334.7K
93INTCIntel Corphistory →COM0.19%$31M937.5K
94ECLEcolab Inchistory →COM0.18%$31M113.8K
95BXBlackstone Inchistory →COM0.18%$31M180.0K
96ICEIntercontinental Exchange Inchistory →COM0.18%$31M181.1K
97TELTE Connectivity PLChistory →ORD SHS0.18%$30M138.9K
98MCKMcKesson Corphistory →COM0.18%$30M39.2K
99TDToronto-Dominion Bank/Thehistory →COM NEW0.18%$30M377.1K
100MCOMoody's Corphistory →COM0.18%$30M62.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$01May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$16.8B551Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$16.9B550Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$15.2B557Aug 8, 202513F-HRchanges · EDGAR ↗
Q1 2025$13.2B562May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$14.1B566Jan 23, 202513F-HRchanges · EDGAR ↗
Q3 2024$13.0B559Oct 24, 202413F-HRchanges · EDGAR ↗
Q2 2024$11.3B573Aug 8, 202413F-HRchanges · EDGAR ↗
Q1 2024$11.8B575May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$9.9B572Feb 6, 202413F-HRchanges · EDGAR ↗
Q3 2023$9.0B552Oct 25, 202313F-HRchanges · EDGAR ↗
Q2 2023$9.3B545Aug 3, 202313F-HRchanges · EDGAR ↗
Q1 2023$8.5B528Apr 21, 202313F-HRchanges · EDGAR ↗
Q4 2022$8.9B532Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$8.2B590Oct 17, 202213F-HRchanges · EDGAR ↗
Q2 2022$7.7B602Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$8.8B576May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$9.9B569Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$8.8B557Nov 10, 202113F-HRchanges · EDGAR ↗
Q2 2021$8.5B547Aug 12, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$7.1B536May 11, 202113F-HRchanges · EDGAR ↗
Q4 2020$6.6B524Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$4.8B527Feb 19, 2021RESTATEMENTchanges · EDGAR ↗
Q2 2020$3.8B526Aug 11, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.8B491May 4, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.0B257Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.4B339Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.2B302Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.3B304May 8, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.