Institution

Andra Ap-Fonden

13F for the quarter to March 31, 2026, filed May 8, 2026 · SEC CIK 1535452

Reported value: $8.4bn
Positions we cover: 381
Copy, a year: +12.3%
Copy Sharpe ratio: 0.66

How copying its 13F would have done

CopyS&P 500 $10,000 copying Andra Ap-Fonden's filed holdings in companies we cover from July 19, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −36.1% (S&P 500 −31.8%); beta 1.01; alpha −1.3% a year (t = −1.11); last 12 months +14.8% against +12.1%.

Reported value by quarter

Andra Ap-Fonden: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$3.8B
2013-09-30	$3.9B
2013-12-31	$4.2B
2014-03-31	$4.3B
2014-06-30	$4.6B
2014-09-30	$4.3B
2014-12-31	$4.3B
2015-03-31	$3.5B
2015-06-30	$3.4B
2015-09-30	$3.4B
2015-12-31	$3.5B
2016-03-31	$3.8B
2016-06-30	$3.9B
2016-09-30	$3.7B
2016-12-31	$3.7B
2017-03-31	$4.3B
2017-06-30	$4B
2017-09-30	$4.3B
2017-12-31	$4.4B
2018-03-31	$3.9B
2018-06-30	$3.7B
2018-09-30	$3.9B
2019-03-31	$3.4B
2019-06-30	$3.5B
2019-09-30	$3.4B
2019-12-31	$3.5B
2020-03-31	$2.8B
2020-06-30	$3.4B
2020-09-30	$3.7B
2020-12-31	$4.5B
2021-03-31	$4.5B
2021-06-30	$4.9B
2021-09-30	$4.9B
2021-12-31	$4.9B
2022-06-30	$3.5B
2022-09-30	$3.1B
2022-12-31	$3.3B
2023-03-31	$3.8B
2023-06-30	$4B
2023-09-30	$1.7B
2023-12-31	$1.9B
2024-03-31	$5.6B
2024-06-30	$6B
2024-09-30	$6.8B
2024-12-31	$6.2B
2025-03-31	$6.1B
2025-06-30	$7.2B
2025-09-30	$7.8B
2025-12-31	$8.1B
2026-03-31	$8.4B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	7.32%	$614.4m	3.52M	+68.4% Added
AAPLApple Inc.	6.59%	$553.2m	2.18M	+72.7% Added
MSFTMicrosoft Corporation	4.56%	$382.4m	1.03M	+83.7% Added
AZNAstrazeneca PLC	4.14%	$347.1m	236.3K	New
AMZNAmazon	3.45%	$289.8m	1.39M	+71.8% Added
GOOGLAlphabet Inc. (Class A)	2.93%	$245.9m	855.1K	+93.4% Added
AVGOBroadcom	2.40%	$201.1m	649.7K	+99.1% Added
METAMeta Platforms	2.21%	$185.9m	324.9K	+126.4% Added
LLYLilly (Eli)	1.39%	$117.0m	127.2K	+52.9% Added
JPMJPMorgan Chase	1.34%	$112.6m	382.7K	+58.8% Added
JNJJohnson & Johnson	1.16%	$97.3m	397.9K	+16.3% Added
WMTWalmart	1.03%	$86.9m	699.0K	+120.9% Added
MAMastercard	0.83%	$69.7m	139.5K	+10.7% Added
MUMicron Technology	0.82%	$68.8m	203.8K	+10.8% Added
VVisa Inc.	0.82%	$68.6m	227.0K	+9.1% Added
AMDAdvanced Micro Devices	0.77%	$64.3m	316.2K	+230.4% Added
COSTCostco	0.74%	$62.4m	62.6K	+284.7% Added
ABBVAbbVie	0.73%	$61.7m	283.8K	+44.2% Added
PLTRPalantir Technologies Inc.	0.71%	$59.6m	407.7K	+5.9% Added
KOThe Coca-Cola Company	0.61%	$50.9m	668.8K	+46.9% Added
GEGE Aerospace	0.58%	$48.5m	170.9K	+197.8% Added
HDThe Home Depot	0.56%	$47.4m	144.2K	+55.4% Added
NFLXNetflix	0.56%	$46.7m	485.2K	−27.0% Reduced
CSCOCisco	0.53%	$44.5m	574.2K	+23.1% Added
MRKMerck & Co.	0.52%	$43.8m	364.5K	−14.9% Reduced
PEPPepsiCo	0.51%	$43.2m	278.1K	+239.5% Added
PGProcter & Gamble	0.50%	$41.6m	288.3K	+272.2% Added
TJXTJX Companies	0.48%	$40.0m	250.2K	−18.2% Reduced
BACBank of America	0.47%	$39.7m	815.0K	+151.4% Added
LRCXLam Research	0.46%	$38.2m	178.7K	−61.4% Reduced
AEMAgnico Eagle Mines LTD	0.42%	$35.5m	125.6K	−3.8% Reduced
RYRoyal Bank Of Canada	0.42%	$35.3m	157.1K	+875.5% Added
WFCWells Fargo	0.42%	$35.0m	439.7K	+11.4% Added
QCOMQualcomm	0.41%	$34.5m	267.6K	−72.8% Reduced
NEENextEra Energy	0.40%	$33.5m	360.5K	+194.4% Added
NUNu Holdings Ltd.	0.40%	$33.4m	2.33M	+57.7% Added
ORCLOracle Corporation	0.39%	$33.0m	224.6K	+85.3% Added
AMATApplied Materials	0.38%	$32.1m	93.9K	−69.9% Reduced
GILDGilead Sciences	0.37%	$31.0m	222.6K	−53.9% Reduced
ANETArista Networks	0.37%	$30.7m	250.0K	+22.5% Added
SHOPShopify Inc.	0.36%	$30.6m	185.2K	+166.9% Added
APHAmphenol	0.36%	$30.3m	239.6K	+96.2% Added
BKNGBooking Holdings	0.36%	$29.9m	7.1K	+13.1% Added
WELLWelltower	0.35%	$29.8m	150.9K	+11.7% Added
LINLinde plc	0.35%	$29.8m	60.1K	+35.7% Added
IBMIBM	0.35%	$29.8m	122.9K	+24.0% Added
DISThe Walt Disney Company	0.35%	$29.7m	307.9K	+3.3% Added
ADIAnalog Devices	0.35%	$29.5m	92.7K	+94.0% Added
GSGoldman Sachs	0.35%	$29.3m	34.6K	−5.0% Reduced
ALNYAlnylam Pharmaceuticals, Inc.	0.34%	$28.7m	86.7K	+78.6% Added
MSMorgan Stanley	0.34%	$28.5m	173.2K	+783.9% Added
TMOThermo Fisher Scientific	0.34%	$28.4m	57.8K	+1411.9% Added
UNHUnitedHealth Group	0.33%	$27.3m	101.0K	+376.7% Added
MCDMcDonald's	0.32%	$27.1m	87.2K	+995.1% Added
AXPAmerican Express	0.32%	$27.0m	89.3K	+33.3% Added
ECLEcolab	0.31%	$26.3m	98.8K	−3.1% Reduced
SUNBSunbelt Rentals Holdings, Inc.	0.31%	$26.2m	5.5K	New
APPApplovin Corp	0.31%	$25.7m	64.7K	−37.9% Reduced
PHParker Hannifin	0.31%	$25.7m	28.7K	+90.3% Added
INTCIntel	0.30%	$25.5m	577.6K	+203.6% Added
CCitigroup	0.30%	$25.5m	224.5K	−21.3% Reduced
CMCanadian Imperial Bank Of Commerce	0.30%	$25.4m	192.8K	−16.6% Reduced
TXNTexas Instruments	0.29%	$24.6m	126.7K	−50.7% Reduced
INCYIncyte	0.29%	$24.4m	259.0K	−34.6% Reduced
SHWSherwin-Williams	0.29%	$24.2m	75.4K	+23.5% Added
SCHWCharles Schwab Corporation	0.29%	$24.1m	256.7K	+28.7% Added
MMM3M	0.29%	$24.1m	166.1K	−9.2% Reduced
UBERUber	0.28%	$23.7m	329.0K	−14.4% Reduced
NEMNewmont	0.28%	$23.4m	216.0K	−26.2% Reduced
RDDTReddit, Inc.	0.28%	$23.2m	172.1K	+152.6% Added
DASHDoorDash	0.28%	$23.2m	154.3K	+44.0% Added
ISRGIntuitive Surgical	0.28%	$23.1m	50.0K	+139.7% Added
WDCWestern Digital	0.26%	$22.1m	81.7K	−68.6% Reduced
HCAHCA Healthcare	0.26%	$22.0m	46.5K	+2.8% Added
MDTMedtronic	0.26%	$22.0m	253.3K	−3.9% Reduced
FASTFastenal	0.26%	$21.8m	469.0K	−54.4% Reduced
INTUIntuit	0.26%	$21.7m	50.3K	−23.3% Reduced
LOWLowe's	0.26%	$21.7m	91.9K	−43.8% Reduced
GRMNGarmin	0.26%	$21.7m	93.4K	−7.7% Reduced
SYKStryker Corporation	0.26%	$21.4m	65.1K	+30.2% Added
ABTAbbott Laboratories	0.25%	$21.2m	206.7K	−36.4% Reduced
TAT&T	0.25%	$21.1m	728.8K	−40.3% Reduced
NOWServiceNow	0.25%	$21.1m	201.9K	−10.0% Reduced
PLDPrologis	0.25%	$20.8m	157.0K	+196.2% Added
IQVIQVIA	0.25%	$20.7m	121.4K	+320.1% Added
BNSBank Of Nova Scotia	0.25%	$20.7m	214.6K	New
VRTVertiv	0.24%	$20.4m	81.5K	+20.6% Added
ROKRockwell Automation	0.24%	$20.4m	56.7K	+13.8% Added
CBChubb Limited	0.24%	$20.2m	62.0K	+347.6% Added
BMYBristol Myers Squibb	0.24%	$20.2m	332.7K	−51.2% Reduced
NBIXNeurocrine Biosciences Inc	0.23%	$19.5m	148.2K	+118.2% Added
EIXEdison International	0.23%	$19.4m	265.0K	+11.6% Added
VZVerizon	0.23%	$19.4m	386.1K	−49.6% Reduced
MNSTMonster Beverage	0.23%	$19.4m	267.5K	+137.8% Added
VLTOVeralto	0.23%	$19.3m	218.6K	+18.2% Added
FIXComfort Systems USA	0.23%	$19.3m	14.0K	+79.7% Added
COFCapital One	0.23%	$19.3m	105.9K	−38.8% Reduced
JCIJohnson Controls	0.23%	$19.3m	147.1K	+192.6% Added
HOODRobinhood Markets	0.23%	$19.1m	275.1K	+37.0% Added
SPGSimon Property Group	0.23%	$18.9m	101.6K	+244.3% Added
RMDResMed\|	0.23%	$18.9m	84.3K	+437.8% Added
KLACKLA Corporation	0.22%	$18.8m	12.8K	−86.3% Reduced
UNPUnion Pacific Corporation	0.22%	$18.6m	76.5K	+532.1% Added
ROSTRoss Stores	0.22%	$18.5m	85.4K	−56.1% Reduced
GLWCorning Inc.	0.22%	$18.5m	135.8K	+429.5% Added
AMGNAmgen	0.21%	$17.7m	50.4K	−18.9% Reduced
TELTE Connectivity	0.21%	$17.7m	84.5K	−45.9% Reduced
SPGIS&P Global	0.21%	$17.7m	41.5K	+166.0% Added
NSCNorfolk Southern	0.21%	$17.5m	61.0K	+253.9% Added
CRWDCrowdStrike	0.21%	$17.5m	44.7K	+157.7% Added
DEDeere & Company	0.21%	$17.4m	30.8K	+120.3% Added
ADSKAutodesk, Inc.	0.21%	$17.3m	72.5K	−33.3% Reduced
GEVGE Vernova	0.20%	$17.0m	19.4K	+81.9% Added
TPRTapestry, Inc.	0.20%	$16.9m	119.7K	−11.3% Reduced
IDXXIdexx Laboratories	0.20%	$16.6m	29.5K	−22.9% Reduced
NTRANatera, Inc.	0.20%	$16.5m	82.7K	+193.4% Added
USBU.S. Bancorp	0.19%	$16.1m	310.4K	−8.1% Reduced
MRVLMarvell Technology	0.19%	$16.1m	162.9K	+1800.5% Added
TERTeradyne	0.19%	$16.0m	53.9K	−74.3% Reduced
ORLYO'Reilly Automotive	0.19%	$15.9m	172.7K	+51.4% Added
FDXFedEx	0.19%	$15.9m	44.6K	+7.9% Added
CBRECBRE Group	0.19%	$15.8m	116.6K	−19.2% Reduced
PNCPNC Financial Services	0.19%	$15.8m	75.7K	+186.7% Added
ELThe Estée Lauder Companies	0.19%	$15.6m	217.7K	+418.4% Added
NDSNNordson Corporation	0.19%	$15.6m	58.7K	+1234.7% Added
CRDOCredo Technology Group Holding Ltd	0.19%	$15.6m	166.1K	−29.4% Reduced
FNVFranco Nevada Corp	0.18%	$15.5m	45.0K	+0.3%
UTHRUnited Therapeutics Corp	0.18%	$15.5m	26.1K	−11.7% Reduced
CSXCSX Corporation	0.18%	$15.5m	376.5K	+79.8% Added
EXPEExpedia Group	0.18%	$15.4m	66.9K	−36.7% Reduced
FSLRFirst Solar, Inc.	0.18%	$15.4m	78.2K	+226.3% Added
ADBEAdobe Inc.	0.18%	$15.4m	63.2K	−46.6% Reduced
SPOTSpotify Technology S.a.	0.18%	$15.0m	30.9K	+8.4% Added
EMREmerson Electric	0.18%	$14.9m	113.5K	+129.8% Added
PANWPalo Alto Networks	0.18%	$14.8m	92.0K	−11.9% Reduced
ULTAUlta Beauty	0.17%	$14.6m	28.0K	−81.9% Reduced
LVSLas Vegas Sands	0.17%	$14.6m	271.2K	+74.9% Added
LHLabcorp	0.17%	$14.6m	54.7K	+58.5% Added
VEEVVeeva Systems Inc	0.17%	$14.6m	82.9K	−27.9% Reduced
DHRDanaher Corporation	0.17%	$14.5m	76.6K	+648.7% Added
FOXAFox Corporation (Class A)	0.17%	$14.4m	247.0K	+208.1% Added
PAASPAN American Silver Corp	0.17%	$14.3m	188.4K	+293.6% Added
SSNCSS&C Technologies Holdings Inc	0.17%	$14.3m	210.9K	+3879.2% Added
CMECME Group	0.17%	$14.2m	48.0K	−53.2% Reduced
ADPAutomatic Data Processing	0.17%	$14.2m	69.7K	+65.0% Added
BRBroadridge Financial Solutions	0.17%	$14.1m	86.9K	+35.1% Added
TRVThe Travelers Companies	0.17%	$14.0m	48.1K	+403.2% Added
MCOMoody's Corporation	0.16%	$13.8m	31.6K	+445.5% Added
WSTWest Pharmaceutical Services	0.16%	$13.8m	55.0K	+723.5% Added
ROLRollins, Inc.	0.16%	$13.7m	255.9K	+164.9% Added

Company	Bought (value)	Shares
AZNAstrazeneca PLC	$347.1m	236.3K
NVDANVIDIA Corporation	$249.5m	1.43M
AAPLApple Inc.	$232.8m	917.5K
MSFTMicrosoft Corporation	$174.3m	470.8K
AMZNAmazon	$121.1m	581.4K
GOOGLAlphabet Inc. (Class A)	$118.8m	413.1K
METAMeta Platforms	$103.8m	181.4K
AVGOBroadcom	$100.1m	323.4K
WMTWalmart	$47.5m	382.5K
COSTCostco	$46.2m	46.3K
AMDAdvanced Micro Devices	$44.9m	220.5K
JPMJPMorgan Chase	$41.7m	141.7K
LLYLilly (Eli)	$40.5m	44.0K
GEGE Aerospace	$32.2m	113.5K
RYRoyal Bank Of Canada	$31.7m	141.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
KLACKLA Corporation	−$117.9m	−80.1K
QCOMQualcomm	−$92.3m	−716.9K
AMATApplied Materials	−$74.4m	−217.6K
ULTAUlta Beauty	−$66.2m	−126.6K
LRCXLam Research	−$60.7m	−284.1K
MICCMagnum Ice Cream Co N.V.	−$57.7m	−49.0K
NTAPNetApp	−$57.5m	−561.9K
PINSPinterest, Inc.	−$49.6m	−1.92M
WDCWestern Digital	−$48.3m	−178.7K
NXPINXP Semiconductors	−$48.1m	−244.6K
TERTeradyne	−$46.2m	−155.8K
WSMWilliams-Sonoma, Inc.	−$37.6m	−206.3K
ONON Semiconductor Corp	−$37.1m	−685.9K
GILDGilead Sciences	−$36.3m	−260.2K
ITGartner	−$30.8m	−121.9K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
MICCMagnum Ice Cream Co N.V.	$57.7m	49.0K
PINSPinterest, Inc.	$49.6m	1.92M
ONON Semiconductor Corp	$37.1m	685.9K
ITGartner	$30.8m	121.9K
GDDYGodaddy Inc.	$27.3m	220.3K
BBYBest Buy	$25.6m	382.2K
ZTSZoetis	$24.3m	193.0K
DOCUDocusign, Inc.	$21.5m	313.9K
HPQHP Inc.	$21.0m	944.7K
CLXClorox	$19.6m	194.6K
FTNTFortinet	$19.4m	243.8K
RSGRepublic Services	$17.8m	83.9K
MAAMid-America Apartment Communities	$16.8m	121.0K
KMBKimberly-Clark	$16.4m	162.1K
DRIDarden Restaurants	$16.2m	88.3K
DTDynatrace, Inc.	$15.1m	349.5K
CDWCDW Corporation	$14.5m	106.2K
OTISOtis Worldwide	$14.3m	163.8K
MTBM&T Bank	$12.8m	63.4K
MDLZMondelez International	$11.3m	210.2K
AVYAvery Dennison	$10.6m	58.3K
CLColgate-Palmolive	$10.2m	129.4K
NTNXNutanix, Inc.	$9.7m	187.3K
FISVFiserv	$9.6m	143.4K
TROWT. Rowe Price	$7.6m	74.3K
FSVFirstservice Corp	$7.0m	32.6K
DOCHealthpeak Properties	$6.9m	429.2K
TGTTarget Corporation	$6.9m	70.4K
VRSKVerisk Analytics, Inc.	$6.9m	30.7K
CSLCarlisle Companies Inc	$6.1m	19.2K

Technology35.5%
Health Care16.2%
Financials11.1%
Industrials9.0%
Consumer Discretionary8.9%
Communication Services7.9%
Consumer Staples4.4%
Materials3.3%
Real Estate2.0%
Utilities1.6%
Energy0.1%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestJuly 19, 2013 to November 2, 2026	+12.3%	+13.8%	0.66	0.77	−36.1%	1.01
2018 onwardsJanuary 5, 2018 to November 2, 2026	+10.9%	+13.9%	0.49	0.66	−36.1%	1.03
Last three yearsNovember 3, 2023 to November 2, 2026	+20.2%	+21.8%	1.04	1.16	−16.9%	0.97
Last yearNovember 7, 2025 to November 2, 2026	+16.9%	+14.2%	0.99	0.84	−9.1%	0.98

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.