SEC 13F Intelligence

Managers / Q4 2025 · view latest →

FORSTA AP-FONDEN

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

Reported Value
$16.8B
Q4 2025
Positions
551
Filings on Record
31
2019–present window
Filed
Feb 10, 2026
original filing

Summary

Forsta Ap-Fonden reported $16.8B in U.S.-listed holdings across 551 positions for Q4 2025.

Its largest position, NVDA, represents 7.5% of the portfolio.

Compared with Q3 2025, the fund opened 19 new positions and exited 18.

Portfolio Metrics

Turnover
+6.6%
vs prior filed quarter
Top-10 Concentration
+42.0%
share of reported value
Largest Position
+7.5%
Nvidia
New / Exited
19 / 18
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: 98.0%REIT: 1.9%Other: 0.0%Tracking Stk: 0.0%ADR: 0.0%
  • Common Stock · 98.0% · $16.4B
  • REIT · 1.9% · $322M
  • Other · 0.0% · $8M
  • Tracking Stk · 0.0% · $4M
  • ADR · 0.0% · $797,681

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CIENCiena CorpNEW+41.3K41.3K+$10M$10M
INSMInsmed IncNEW+45.1K45.1K+$8M$8M
Flex LtdNEW+126.4K126.4K+$8M$8M
FIXComfort Systems USA IncNEW+7.9K7.9K+$7M$7M
ALABAstera Labs IncNEW+43.7K43.7K+$7M$7M
CRDOCredo Technology Group HoldingNEW+48.9K48.9K+$7M$7M
EMAEmera IncNEW+113.4K113.4K+$6M$6M
IONQIonQ IncNEW+122.3K122.3K+$5M$5M

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

Holdings — Q4 2025

497 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA Corphistory →COM7.47%$1.3B6.72M
2AAPLApple Inchistory →COM6.53%$1.1B4.03M
3MSFTMicrosoft Corphistory →COM5.51%$924M1.91M
4GOOGLAlphabet IncCAP STK CL A · CAP STK CL C5.46%$916M2.92M
5SPOTSpotify Technology SAhistory →SHS5.10%$856M1.47M
6AMZNAmazon.com Inchistory →COM3.65%$612M2.65M
7AVGOBroadcom Inchistory →COM2.47%$414M1.20M
8METAMeta Platforms Inchistory →CL A2.35%$394M596.8K
9TSLATesla Inchistory →COM1.97%$331M735.1K
10LLYEli Lilly & Cohistory →COM1.48%$248M230.6K
11JPMJPMorgan Chase & Cohistory →COM1.37%$230M714.0K
12BRK/BBerkshire Hathaway Inchistory →CL B NEW1.05%$176M350.4K
13VVisa Inchistory →COM CL A1.04%$174M496.5K
14MAMastercard Inchistory →CL A0.86%$144M252.9K
15WMTWalmart Inchistory →COM0.82%$137M1.23M
16JNJJohnson & Johnsonhistory →COM0.73%$123M594.9K
17NFLXNetflix Inchistory →COM0.71%$118M1.26M
18PLTRPalantir Technologies Inchistory →CL A0.65%$110M616.5K
19COSTCostco Wholesale Corphistory →COM0.62%$104M121.1K
20ABBVAbbVie Inchistory →COM0.61%$102M447.4K
21HDHome Depot Inc/Thehistory →COM0.57%$96M279.0K
22ORCLOracle Corphistory →COM0.55%$93M476.7K
23BACBank of America Corphistory →COM0.55%$93M1.69M
24General Electric CoCOM NEW0.54%$91M294.7K
25PGProcter & Gamble Co/Thehistory →COM0.54%$91M631.7K
26GSGoldman Sachs Group Inc/Thehistory →COM0.52%$88M99.8K
27MUMicron Technology Inchistory →COM0.51%$86M301.2K
28AMDAdvanced Micro Devices Inchistory →COM0.51%$85M398.5K
29MRKMerck & Co Inchistory →COM0.50%$83M792.7K
30CRMSalesforce Inchistory →COM0.49%$81M307.2K
31LRCXLam Research Corphistory →COM NEW0.43%$73M424.9K
32UNHUnitedHealth Group Inchistory →COM0.43%$72M218.5K
33CSCOCisco Systems Inchistory →COM0.43%$71M926.4K
34ABTAbbott Laboratorieshistory →COM0.42%$70M557.1K
35WFCWells Fargo & Cohistory →COM0.41%$69M741.1K
36DISWalt Disney Co/Thehistory →COM0.40%$67M591.6K
37KOCoca-Cola Co/Thehistory →COM0.40%$67M961.5K
38IBMIBMhistory →COM0.39%$65M220.4K
39AXPAmerican Express Cohistory →COM0.37%$63M169.6K
40INTUIntuit Inchistory →COM0.37%$62M93.7K
41BKNGBooking Holdings Inchistory →COM0.35%$58M10.8K
42APPAppLovin Corphistory →COM CL A0.33%$56M83.0K
43PEPPepsiCo Inchistory →COM0.33%$56M388.1K
44GEVGE Vernova Inchistory →COM0.32%$54M83.3K
45AMATApplied Materials Inchistory →COM0.32%$54M209.8K
46KLACKLA Corphistory →COM NEW0.32%$53M43.9K
47RYRoyal Bank of Canadahistory →COM0.32%$53M312.2K
48UBERUber Technologies Inchistory →COM0.32%$53M650.3K
49ANETArista Networks Inchistory →COM SHS0.30%$50M379.7K
50LOWLowe's Cos Inchistory →COM0.29%$49M202.6K
51VZVerizon Communications Inchistory →COM0.29%$49M1.19M
52MCDMcDonald's Corphistory →COM0.29%$49M158.8K
53ISRGIntuitive Surgical Inchistory →COM NEW0.29%$49M85.7K
54TMOThermo Fisher Scientific Inchistory →COM0.29%$48M82.6K
55PGRProgressive Corp/Thehistory →COM0.29%$48M210.0K
56CCitigroup Inchistory →COM NEW0.28%$47M406.1K
57BLKBlackrock Inchistory →COM0.27%$46M42.6K
58WELLWelltower Inchistory →COM0.27%$45M242.6K
59MSMorgan Stanleyhistory →COM NEW0.27%$45M252.8K
60ACNAccenture PLChistory →SHS CLASS A0.26%$44M163.0K
61SPGIS&P Global Inchistory →COM0.26%$44M83.6K
62SHOPShopify Inchistory →CL A SUB VTG SHS0.26%$43M269.1K
63LINLinde PLChistory →SHS0.26%$43M100.4K
64APHAmphenol Corphistory →CL A0.25%$43M316.5K
65SCHWCharles Schwab Corp/Thehistory →COM0.25%$41M413.9K
66CEGConstellation Energy Corphistory →COM0.25%$41M116.8K
67MCKMcKesson Corphistory →COM0.24%$40M48.4K
68NOWServiceNow Inchistory →COM0.24%$39M257.6K
69ADBEAdobe Inchistory →COM0.23%$39M111.7K
70QCOMQUALCOMM Inchistory →COM0.23%$38M224.1K
71TAT&T Inchistory →COM0.23%$38M1.54M
72TMUST-Mobile US Inchistory →COM0.23%$38M187.6K
73AMGNAmgen Inchistory →COM0.22%$37M113.3K
74SOSouthern Co/Thehistory →COM0.22%$36M415.3K
75MELIMercadoLibre Inchistory →COM0.21%$36M17.9K
76ADPAutomatic Data Processing Inchistory →COM0.21%$36M139.5K
77TJXTJX Cos Inc/Thehistory →COM0.21%$36M233.3K
78BSXBoston Scientific Corphistory →COM0.21%$36M375.2K
79TDToronto-Dominion Bank/Thehistory →COM NEW0.21%$36M376.9K
80INTCIntel Corphistory →COM0.21%$35M954.2K
81TTTrane Technologies PLChistory →SHS0.21%$35M90.3K
82ETNEaton Corp PLChistory →SHS0.21%$35M110.0K
83MCOMoody's Corphistory →COM0.21%$35M67.7K
84NEENextEra Energy Inchistory →COM0.21%$34M429.4K
85MMM3M Cohistory →COM0.20%$34M213.2K
86TXNTexas Instruments Inchistory →COM0.20%$34M195.6K
87HWMHowmet Aerospace Inchistory →COM0.20%$34M164.9K
88ELVElevance Health Inchistory →COM0.20%$33M95.2K
89CMICummins Inchistory →COM0.20%$33M65.2K
90HOODRobinhood Markets Inchistory →COM CL A0.19%$32M286.6K
91GILDGilead Sciences Inchistory →COM0.19%$32M262.0K
92PHParker-Hannifin Corphistory →COM0.19%$32M36.6K
93COFCapital One Financial Corphistory →COM0.19%$32M132.4K
94SYKStryker Corphistory →COM0.19%$32M90.4K
95AMTAmerican Tower Corphistory →COM0.19%$32M180.7K
96SHWSherwin-Williams Co/Thehistory →COM0.19%$32M97.4K
97PFEPfizer Inchistory →COM0.19%$31M1.25M
98DHRDanaher Corphistory →COM0.18%$31M134.5K
99ECLEcolab Inchistory →COM0.18%$31M116.4K
100AEMAgnico Eagle Mines Ltdhistory →COM0.18%$30M173.8K

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 ↗.