CIK: 0000946431
Total reported value
$95.1B
Reporting period: 2026-03-31 · Number of holdings: 1062
Swedbank AB disclosed 1062 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $95.1B and a quarterly turnover rate of 20.5%.
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Swedbank AB's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 48 equally-sized positions, well below its 1062 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.62), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 68% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
+2.4% -$1.5B
Trim ROP
-93.4% -$477.7M
Trim CRM
-49.8% -$359.4M
Trim META
-9.5% -$485.7M
Trim MA
-21.8% -$405.8M
Trim INTU
-31.5% -$324.7M
Swedbank AB is rotating within Tech, adding to AI infrastructure plays (NVDA, AVGO, MSFT) while trimming internet platforms (META, GOOG) and payments (MA), and initiating a new Health Care position in AZN to buffer against multiple compression in overvalued growth.
The portfolio is pricing in a regime where AI capex sustains earnings momentum for semiconductor and cloud incumbents, while ad-dependent platforms face margin erosion from regulation and competition. The opposing thesis is that AI investment peaks in 2026, hardware margins revert to mean, and the extreme momentum tilt—reinforced by a 100% momentum-contrarian score—gets crushed in a growth-to-value rotation.
The high coefficient of variation (3.62) across 684 holdings masks a de facto top-heaviness: NVDA alone at 7.96% and the top 5 tech names concentrate over 25% of capital. With 50.8% in Technology and a momentum factor that is now consensus, a sudden sector rotation would trigger forced selling into a liquidity vacuum, compounded by the reflexive unwind of the crowded long in AI hardware.
Compiled by AI from public 13F filings; reflects historical positioning only and carries no investment recommendation.
Showing top 200 holdings (of 1062 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.96% | +0.26% | +1.81% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 5.89% | -1.03% | +2.40% | |
| 3 | AAPL | Apple INC | Stock-Tech | 5.19% | — | +7.68% | |
| 4 | AVGO | Broadcom INC | Stock-Tech | 4.05% | -0.04% | +1.69% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.49% | — | +1.96% | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.06% | -0.18% | -4.78% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.88% | -0.05% | -1.60% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.86% | -0.32% | -9.51% | |
| 9 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.56% | -0.18% | -3.15% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.42% | -0.05% | -2.50% | |
| 11 | ADI | Analog Devices INC | Stock-Tech | 1.17% | — | -6.73% | |
| 12 | C | Citigroup INC | Stock-Financials | 1.16% | — | -6.12% | |
| 13 | AMAT | Applied Materials INC | Stock-Tech | 1.02% | +0.28% | -4.28% | |
| 14 | KLAC | Kla CORP | Stock-Tech | 0.99% | — | -16.47% | |
| 15 | PLD | Prologis INC | Stock-Real Estate | 0.96% | — | -10.02% | |
| 16 | MA | Mastercard INC - A | Stock-Financials | 0.92% | -0.32% | -21.83% | |
| 17 | MCK | Mckesson CORP | Stock-Healthcare | 0.91% | +0.21% | +13.46% | |
| 18 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.90% | — | -7.32% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 0.88% | -0.13% | -6.79% | |
| 20 | ANET | Arista Networks INC | Stock-Tech | 0.83% | -0.10% | -12.44% | |
| 21 | MU | Micron Technology INC | Stock-Tech | 0.83% | -0.16% | -34.89% | |
| 22 | NFLX | Netflix INC | Stock-Comm Services | 0.83% | — | +6.78% | |
| 23 | LRCX | Lam Research CORP | Stock-Tech | 0.81% | — | -9.92% | |
| 24 | HD | Home Depot INC | Stock-Consumer Disc | 0.79% | +0.24% | +37.71% | |
| 25 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.76% | -0.18% | -11.59% | |
| 26 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.75% | +0.29% | +27.28% | |
| 27 | AMD | Advanced Micro Devices | Stock-Tech | 0.72% | +0.22% | +37.52% | |
| 28 | CSCO | Cisco Systems INC | Stock-Tech | 0.71% | — | -2.77% | |
| 29 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.71% | -0.20% | -13.80% | |
| 30 | XYL | Xylem INC | Stock-Industrials | 0.69% | — | +0.34% | |
| 31 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.67% | — | +0.22% | |
| 32 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.66% | — | -8.33% | |
| 33 | BAC | Bank Of America CORP | Stock-Financials | 0.64% | — | +5.44% | |
| 34 | ICE | Intercontinental Exchange In | Stock-Financials | 0.63% | — | +7.61% | |
| 35 | MSI | Motorola Solutions INC | Stock-Tech | 0.60% | — | -12.42% | |
| 36 | RPRX | Royalty Pharma plc | Stock-Healthcare | 0.58% | — | -2.98% | |
| 37 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.58% | +0.22% | +80.92% | |
| 38 | WM | Waste Management INC | Stock-Industrials | 0.58% | — | +17.03% | |
| 39 | ABBV | Abbvie INC | Stock-Healthcare | 0.55% | — | +22.76% | |
| 40 | CDNS | Cadence Design Sys INC | Stock-Tech | 0.54% | -0.07% | -8.71% | |
| 41 | ORCL | Oracle CORP | Stock-Tech | 0.51% | -0.15% | -5.47% | |
| 42 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.51% | +0.51% | NEW | |
| 43 | LIN | Linde plc | Stock-Materials | 0.51% | — | -15.01% | |
| 44 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.50% | — | -4.31% | |
| 45 | ECL | Ecolab INC | Stock-Materials | 0.48% | — | +5.55% | |
| 46 | PANW | Palo Alto Networks INC | Stock-Tech | 0.46% | — | -2.87% | |
| 47 | EMR | Emerson Electric Co | Stock-Industrials | 0.46% | — | +7.12% | |
| 48 | TT | Trane Technologies plc | Stock-Industrials | 0.45% | — | -9.76% | |
| 49 | APH | Amphenol Corp-cl A | Stock-Tech | 0.43% | -0.12% | -22.38% | |
| 50 | SNPS | Synopsys INC | Stock-Tech | 0.41% | -0.08% | -7.67% |
Performance for Q3 2026
+4.1%
Performance Last 4 Quarters
+24.4%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1062 | $95.1B | 21 | |
| 2025-12-31 | 1054 | $103.4B | 14 | |
| 2025-09-30 | 887 | $98.7B | 0 | |
| 2025-06-30 | 879 | $89.0B | 0 | |
| 2024-12-31 | 897 | $81.3B | 0 | |
| 2024-09-30 | 895 | $78.3B | 0 | |
| 2024-06-30 | 911 | $74.8B | 0 | |
| 2024-03-31 | 233 | $59.4B | 0 | |
| 2023-12-31 | 912 | $62.1B | 0 | |
| 2023-09-30 | 923 | $57.7B | 0 | |
| 2023-06-30 | 924 | $59.0B | 0 | |
| 2023-03-31 | 921 | $50.7B | 0 | |
| 2022-12-31 | 925 | $45.5B | 0 | |
| 2022-09-30 | 955 | $42.1B | 0 | |
| 2022-06-30 | 957 | $44.3B | 0 | |
| 2022-03-31 | 942 | $53.9B | 0 | |
| 2021-12-31 | 939 | $59.8B | 0 | |
| 2021-09-30 | 938 | $53.6B | 0 | |
| 2021-06-30 | 925 | $53.3B | 0 | |
| 2021-03-31 | 930 | $48.1B | 0 |
Swedbank AB's most significant position changes for 2026-03-31: New buy: AstraZeneca PLC (AZN); Sold out: Astrazeneca Plc-spons Adr (AZNN); New buy: Sprouts Farmers Market INC (SFM); Add: Microsoft CORP (MSFT) — shares +2.40%; Trim: Roper Technologies INC (ROP) — shares -93.38%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | JNJ | Johnson & Johnson | +0.3% | +27.28% | Add |
| 2 | AMAT | Applied Materials INC | +0.3% | -4.28% | Trim |
| 3 | NVDA | Nvidia CORP | +0.3% | +1.81% | Add |
| 4 | HD | Home Depot INC | +0.2% | +37.71% | Add |
| 5 | LITE | Lumentum Holdings INC | +0.2% | +457.79% | Add |
| 6 | PLTR | Palantir Technologies Inc-a | +0.2% | +80.92% | Add |
| 7 | AMD | Advanced Micro Devices | +0.2% | +37.52% | Add |
| 8 | MCK | Mckesson CORP | +0.2% | +13.46% | Add |
| 9 | CBRE | Cbre Group INC - A | +0.2% | +119.61% | Add |
| 10 | NET | Cloudflare INC - Class A | +0.2% | +697.54% | Add |
| 11 | STX | Seagate Technology Holdings plc | +0.2% | +67.57% | Add |
| 12 | EIX | Edison International | +0.1% | +206.99% | Add |
| 13 | AMZN | Amazon.com INC | — | +1.96% | Add |
| 14 | AVGO | Broadcom INC | 0% | +1.69% | Add |
| 15 | GOOGL | Alphabet Inc-cl A | -0.1% | -1.60% | Trim |
| 16 | JPM | Jpmorgan Chase & Co | -0.1% | -2.50% | Trim |
| 17 | CDNS | Cadence Design Sys INC | -0.1% | -8.71% | Trim |
| 18 | SNPS | Synopsys INC | -0.1% | -7.67% | Trim |
| 19 | ANET | Arista Networks INC | -0.1% | -12.44% | Trim |
| 20 | KEYS | Keysight Technologies In | -0.1% | -56.11% | Trim |
| 21 | APH | Amphenol Corp-cl A | -0.1% | -22.38% | Trim |
| 22 | DHR | Danaher CORP | -0.1% | -48.16% | Trim |
| 23 | TYL | Tyler Technologies INC | -0.1% | -97.89% | Trim |
| 24 | V | Visa Inc-class A Shares | -0.1% | -6.79% | Trim |
| 25 | ACN | Accenture plc | -0.1% | -19.20% | Trim |
| 26 | JLL | Jones Lang Lasalle INC | -0.1% | -44.44% | Trim |
| 27 | CRDO | Credo Technology Group Holding Ltd | -0.1% | -24.80% | Trim |
| 28 | ORCL | Oracle CORP | -0.2% | -5.47% | Trim |
| 29 | EA | Electronic Arts INC | -0.2% | -65.78% | Trim |
| 30 | MDB | Mongodb INC | -0.2% | -20.42% | Trim |
| 31 | MU | Micron Technology INC | -0.2% | -34.89% | Trim |
| 32 | NOW | Servicenow INC | -0.2% | -10.66% | Trim |
| 33 | GOOG | Alphabet Inc-cl C | -0.2% | -4.78% | Trim |
| 34 | LLY | Eli Lilly & Co | -0.2% | -3.15% | Trim |
| 35 | TMO | Thermo Fisher Scientific INC | -0.2% | -11.59% | Trim |
| 36 | SPGI | S&p Global INC | -0.2% | -21.79% | Trim |
| 37 | ISRG | Intuitive Surgical INC | -0.2% | -31.08% | Trim |
| 38 | SPOT | Spotify Technology S.A. | -0.2% | -13.80% | Trim |
| 39 | TEAM | Atlassian Corp-cl A | -0.2% | -99.16% | Trim |
| 40 | BSX | Boston Scientific CORP | -0.2% | -63.29% | Trim |
| 41 | MELI | Mercadolibre INC | -0.3% | -86.16% | Trim |
| 42 | INTU | Intuit INC | -0.3% | -31.50% | Trim |
| 43 | META | Meta Platforms Inc-class A | -0.3% | -9.51% | Trim |
| 44 | MA | Mastercard INC - A | -0.3% | -21.83% | Trim |
| 45 | CRM | Salesforce INC | -0.3% | -49.77% | Trim |
| 46 | ROP | Roper Technologies INC | -0.5% | -93.38% | Trim |
| 47 | MSFT | Microsoft CORP | -1% | +2.40% | Add |
| 48 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 49 | AZNN | Astrazeneca Plc-spons Adr | — | EXIT | Sold out |
| 50 | SFM | Sprouts Farmers Market INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-29 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-09 | Amendment | View on EDGAR |
| 2025-12-31 | 2026-02-03 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-15 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-10 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-22 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-07 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-10-11 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-11 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2024-12-06 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2024-12-06 | 13F-HR | View on EDGAR |
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