SA
Swedbank AB — 13F Portfolio Changes & Top Buys (Q2 2026)
Swedbank ABCIK: 0000946431
Diversified strategyLong-term holderSector-focused
Total reported value
$116.0B
Reporting period: 2026-06-30 · Number of holdings: 1123
Swedbank AB disclosed 1123 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $116.0B and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 7.95
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 82.31
- Diversification
- 100
- Sizing Uniformity
- 64.16
Swedbank AB's disclosed holdings carry a Herfindahl concentration index of 0.020 — mathematically equivalent to about 50 equally-sized positions, well below its 1123 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 3.58), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MU
+2.2% $2.0B
Add AMD
+26.8% $1.8B
Trim MSFT
-1.8% -$60.4M
Add LRCX
+29.6% $1.2B
Add AMAT
+2.0% $1.1B
New buy 84615Q103
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Swedbank AB's June 30, 2026 filing shows a hyper-diversified 696-name book (HHI ≈ 0.02) whose visible activity this quarter was almost entirely additive and clustered in semiconductors: Micron (MU) rose from 0.83% to 2.37% of the portfolio and AMD from 0.72% to 2.13%, with Lam Research, Applied Materials and KLA each lifted by roughly 0.4–1.0 point and Broadcom nudged up to 4.29%. NVIDIA and Apple are tagged as adds on share count, yet their weights slipped (7.96%→7.51%; 5.19%→5.04%), implying their prices lagged the broader book even as shares were accumulated. A caveat: the reported turnover ratio of 0.0 sits oddly beside these recorded adds — plausibly rounding or negligible net activity against ~700 positions — and with share-change magnitudes omitted (about 98% of value mapped), buys can't be cleanly separated from price drift.
Macro & Fundamentals
Read strictly as inference from one filer's single quarter, these flows line up with the broadening of the AI-infrastructure capex cycle beyond GPU leadership into memory (Micron) and wafer-fab equipment (LRCX, AMAT, KLAC) — directionally consistent with prevailing market narratives, though nothing here establishes causation. The 0.0 momentum tilt and the falling weight of the largest holding suggest structural re-weighting inside technology rather than a crowded chase of the highest-beta name; the selling side isn't disclosed, so how these adds were funded remains invisible.
Blind Spots / Risks
The clearest data-grounded vulnerability is semiconductor concentration dressed up as diversification: Information Technology is 48.2% of the book and seven of the eight largest adds are chip-chain names, so a downcycle would hit the dominant sector weight and the freshly enlarged positions simultaneously — the 696-name breadth offers little protection because it sits outside tech. Watch also that NVDA and AAPL gained shares while losing weight; if that internal divergence persists, the book funnels further into a few winning semis and positioning-squeeze risk rises well above what the headline HHI implies.
Compiled by AI directly from this institution's public Form 13F data on SEC EDGAR; reflects historical positioning only and carries no investment recommendation. Source filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 1123 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.51% | -0.45% | +0.20% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 5.04% | -0.15% | +3.99% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.78% | -1.11% | -1.83% | |
| 4 | AVGO | Broadcom Inc | Stock-Tech | 4.29% | +0.24% | +5.88% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.39% | -0.10% | +3.62% | |
| 6 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.97% | +0.09% | +1.28% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.95% | -0.11% | -4.61% | |
| 8 | MU | Micron Technology Inc | Stock-Tech | 2.37% | +1.54% | +2.22% | |
| 9 | AMD | Advanced Micro Devices | Stock-Tech | 2.13% | +1.41% | +26.81% | |
| 10 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.84% | +0.28% | +10.21% | |
| 11 | AMAT | Applied Materials Inc | Stock-Tech | 1.80% | +0.78% | +1.98% | |
| 12 | LRCX | Lam Research CORP | Stock-Tech | 1.74% | +0.93% | +29.56% | |
| 13 | KLAC | Kla CORP | Stock-Tech | 1.43% | +0.44% | +763.90% | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.37% | -0.49% | -8.30% | |
| 15 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.32% | -0.10% | +1.83% | |
| 16 | ADI | Analog Devices Inc | Stock-Tech | 1.31% | +0.14% | +8.74% | |
| 17 | C | Citigroup Inc | Stock-Financials | 1.21% | +0.05% | +3.69% | |
| 18 | ANET | Arista Networks Inc | Stock-Tech | 0.92% | +0.09% | -2.07% | |
| 19 | PLD | Prologis Inc | Stock-Real Estate | 0.83% | -0.13% | +3.24% | |
| 20 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.79% | +0.04% | +24.08% | |
| 21 | V | Visa Inc-class A Shares | Stock-Financials | 0.76% | -0.12% | -7.51% | |
| 22 | CSCO | Cisco Systems Inc | Stock-Tech | 0.74% | +0.03% | -15.71% | |
| 23 | APH | Amphenol Corp-cl A | Stock-Tech | 0.73% | +0.30% | +47.64% | |
| 24 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.71% | +0.25% | -11.45% | |
| 25 | MA | Mastercard Inc - A | Stock-Financials | 0.71% | -0.21% | -9.43% | |
| 26 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.70% | -0.20% | -10.31% | |
| 27 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.70% | +0.16% | +17.94% | |
| 28 | STX | Seagate Technology Holdings plc | Stock-Tech | 0.68% | +0.39% | +15.93% | |
| 29 | INTC | Intel CORP | Stock-Tech | 0.68% | +0.41% | -4.84% | |
| 30 | BAC | Bank Of America CORP | Stock-Financials | 0.65% | +0.01% | +6.41% | |
| 31 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.62% | +0.30% | +55.90% | |
| 32 | HD | Home Depot Inc | Stock-Consumer Disc | 0.60% | -0.19% | -13.52% | |
| 33 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.59% | +0.09% | +1.44% | |
| 34 | ABBV | Abbvie Inc | Stock-Healthcare | 0.57% | +0.02% | +9.92% | |
| 35 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.56% | -0.20% | -12.26% | |
| 36 | WM | Waste Management Inc | Stock-Industrials | 0.53% | -0.05% | +15.82% | |
| 37 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.52% | -0.19% | -4.83% | |
| 38 | ✓ | Stock-Other | 0.52% | +0.52% | NEW | ||
| 39 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.52% | -0.14% | -8.21% | |
| 40 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.52% | -0.15% | -0.00% | |
| 41 | NOW | Servicenow Inc | Stock-Tech | 0.52% | +0.18% | +98.65% | |
| 42 | RPRX | Royalty Pharma plc | Stock-Healthcare | 0.52% | -0.06% | -7.42% | |
| 43 | MCK | Mckesson CORP | Stock-Healthcare | 0.52% | -0.39% | -21.07% | |
| 44 | NFLX | Netflix Inc | Stock-Comm Services | 0.47% | -0.36% | -6.97% | |
| 45 | FTNT | Fortinet Inc | Stock-Tech | 0.46% | +0.14% | -6.05% | |
| 46 | EMR | Emerson Electric Co | Stock-Industrials | 0.45% | -0.01% | +9.45% | |
| 47 | LIN | Linde plc | Stock-Materials | 0.45% | -0.06% | +2.78% | |
| 48 | ORCL | Oracle CORP | Stock-Tech | 0.44% | -0.07% | +4.72% | |
| 49 | MSI | Motorola Solutions Inc | Stock-Tech | 0.43% | -0.17% | -8.31% | |
| 50 | ICE | Intercontinental Exchange In | Stock-Financials | 0.41% | -0.22% | +2.44% |
1–50 of 200
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+2.9%
Performance Last 4 Quarters
+23.7%
- Stdev
- +14.5%
- Beta
- +1.11
- Alpha
- -2.7%
- Max Drawdown
- -9.7%
- Annualized Perf
- +20%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.74
- Stutzer
- +0.4
- Treynor
- +0.18
- Sterling
- +1.16
- Calmar
- +2.05
- Information Ratio
- -0.22
- Tracking Error
- +3%
- Stdev Down
- +7.1%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +35%
- Worst 12 Months
- +1.8%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.33
- Stdev Sectors
- +12.9%
- Skewness
- +0.21
- Kurtosis
- +0.18
- Upside Potential
- +4.31
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 1123 | $116.0B | 0 | ||
| 2026 Q1 | 1062 | $95.1B | 21 | ||
| 2025 Q4 | 1054 | $103.4B | 14 | ||
| 2025 Q3 | 887 | $98.7B | 0 | ||
| 2025 Q2 | 879 | $89.0B | 0 | ||
| 2024 Q4 | 897 | $81.3B | 0 | ||
| 2024 Q3 | 895 | $78.3B | 0 | ||
| 2024 Q2 | 911 | $74.8B | 0 | ||
| 2024 Q1 | 233 | $59.4B | 0 | ||
| 2023 Q4 | 912 | $62.1B | 0 | ||
| 2023 Q3 | 923 | $57.7B | 0 | ||
| 2023 Q2 | 924 | $59.0B | 0 | ||
| 2023 Q1 | 921 | $50.7B | 0 | ||
| 2022 Q4 | 925 | $45.5B | 0 | ||
| 2022 Q3 | 955 | $42.1B | 0 | ||
| 2022 Q2 | 957 | $44.3B | 0 | ||
| 2022 Q1 | 942 | $53.9B | 0 | ||
| 2021 Q4 | 939 | $59.8B | 0 | ||
| 2021 Q3 | 938 | $53.6B | 0 | ||
| 2021 Q2 | 925 | $53.3B | 0 | ||
| 2021 Q1 | 930 | $48.1B | 0 |
Holding changes this quarter
Swedbank AB's most significant position changes for 2026-06-30: New buy: ; New buy: Almonty Industries Inc (ALM); Sold out: Shake Shack Inc - Class A (SHAK); Sold out: Eog Resources Inc (EOG); New buy: Embraer Sa-spon Adr (EMBJ).
Showing top 200 changes by size (of 728 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +1.5% | +2.22% | Add |
| 2 | AMD | Advanced Micro Devices | +1.4% | +26.81% | Add |
| 3 | LRCX | Lam Research CORP | +0.9% | +29.56% | Add |
| 4 | AMAT | Applied Materials Inc | +0.8% | +1.98% | Add |
| 5 | ✓ | +0.5% | NEW | New buy | |
| 6 | KLAC | Kla CORP | +0.4% | +763.90% | Add |
| 7 | INTC | Intel CORP | +0.4% | -4.84% | Trim |
| 8 | STX | Seagate Technology Holdings plc | +0.4% | +15.93% | Add |
| 9 | APH | Amphenol Corp-cl A | +0.3% | +47.64% | Add |
| 10 | UNH | Unitedhealth Group Inc | +0.3% | +55.90% | Add |
| 11 | LLY | Eli Lilly & Co | +0.3% | +10.21% | Add |
| 12 | PANW | Palo Alto Networks Inc | +0.3% | -11.45% | Trim |
| 13 | AVGO | Broadcom Inc | +0.2% | +5.88% | Add |
| 14 | GEV | GE Vernova Inc | +0.2% | +133.69% | Add |
| 15 | QCOM | Qualcomm Inc | +0.2% | +70.05% | Add |
| 16 | NOW | Servicenow Inc | +0.2% | +98.65% | Add |
| 17 | CDNS | Cadence Design Sys Inc | +0.2% | +17.94% | Add |
| 18 | SNOW | Snowflake Inc | +0.2% | +12.59% | Add |
| 19 | DDOG | Datadog Inc - Class A | +0.2% | +478.74% | Add |
| 20 | ADI | Analog Devices Inc | +0.1% | +8.74% | Add |
| 21 | FTNT | Fortinet Inc | +0.1% | -6.05% | Trim |
| 22 | OKTA | Okta Inc | +0.1% | +16.00% | Add |
| 23 | FLS | Flowserve CORP | +0.1% | +616.58% | Add |
| 24 | CRDO | Credo Technology Group Holding Ltd | +0.1% | -27.93% | Trim |
| 25 | GOOGL | Alphabet Inc-cl A | +0.1% | +1.28% | Add |
| 26 | ANET | Arista Networks Inc | +0.1% | -2.07% | Trim |
| 27 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +1.44% | Add |
| 28 | SNDK | Sandisk CORP | +0.1% | +68.16% | Add |
| 29 | RKLB | Rocket Lab CORP | +0.1% | +134.85% | Add |
| 30 | ALM | Almonty Industries Inc | +0.1% | NEW | New buy |
| 31 | KVUE | Kenvue Inc | +0.1% | +91.35% | Add |
| 32 | GLW | Corning Inc | +0.1% | +137.22% | Add |
| 33 | EMBJ | Embraer Sa-spon Adr | +0.1% | NEW | New buy |
| 34 | DXCM | Dexcom Inc | +0.1% | +484.40% | Add |
| 35 | FITB | Fifth Third Bancorp | +0.1% | +394.08% | Add |
| 36 | C | Citigroup Inc | +0.1% | +3.69% | Add |
| 37 | MRVL | Marvell Technology Inc | +0.1% | -53.25% | Trim |
| 38 | ALV | Autoliv Inc | +0.1% | +29.44% | Add |
| 39 | NVT | nVent Electric plc | +0.1% | +31.31% | Add |
| 40 | RMBS | Rambus Inc | +0.1% | +5.34% | Add |
| 41 | CAT | Caterpillar Inc | +0.1% | +3.96% | Add |
| 42 | CAH | Cardinal Health Inc | +0.1% | +61.75% | Add |
| 43 | JNJ | Johnson & Johnson | 0% | +24.08% | Add |
| 44 | WMT | Walmart Inc | 0% | +48.27% | Add |
| 45 | ALL | Allstate CORP | 0% | +23.30% | Add |
| 46 | GL | Globe Life Inc | 0% | +17.32% | Add |
| 47 | AMGN | Amgen Inc | 0% | +58.81% | Add |
| 48 | WDC | Western Digital CORP | 0% | -4.29% | Trim |
| 49 | CRWD | Crowdstrike Holdings Inc - A | 0% | -17.47% | Trim |
| 50 | GIS | General Mills Inc | 0% | +107.46% | Add |
1–50 of 200
Filing History
FAQ
What is Swedbank AB and what type of investor is it?
Swedbank AB is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $116.0B, spread across 1123 disclosed positions.
What are Swedbank AB's largest equity positions?
Based on the latest 13F filing, Swedbank AB's top holdings by market value are:
1. Nvidia CORP (NVDA) — $8.7B (7.5%)
2. Apple Inc (AAPL) — $5.9B (5.0%)
3. Microsoft CORP (MSFT) — $5.5B (4.8%)
4. Broadcom Inc (AVGO) — $5.0B (4.3%)
5. Amazon.com Inc (AMZN) — $3.9B (3.4%)
What changes did Swedbank AB make in its most recent portfolio filing?
In the latest reported quarter, Swedbank AB made 199 notable position adjustments: 8 new positions were initiated, 101 existing holdings were added to, 83 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: ; New buy: Almonty Industries Inc (ALM); Sold out: Shake Shack Inc - Class A (SHAK); Sold out: Eog Resources Inc (EOG); New buy: Embraer Sa-spon Adr (EMBJ)
What sectors does Swedbank AB focus on?
Swedbank AB is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 48.2%
• Health Care: 11.0%
• Communication Services: 9.5%
• Financials: 9.4%
• Consumer Discretionary: 8.0%
• Industrials: 6.7%
Investment Profile
Swedbank AB returned an annualized 20.0% over the trailing 36 months — underperforming the S&P 500 by 2.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.11 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 48.2% of the portfolio concentrated in Information Technology.
It has added to its AMD position over the past two quarters (+$1.9B, now $2.5B), while trimming MSFT over the same stretch (-$1.6B, still holding $5.5B).
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Developer Access
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