We contribute to the financial security of current and future pensioners in Sweden

Interim Report 2026

About us

An important mission

The Fourth Swedish National Pension Fund (AP4) was founded in 1974 to manage part of Sweden's public pension capital. Over time, through long-term high returns, we have strengthened the public pension system. We manage the fund capital in an exemplary manner through responsible investments and ownership. In this way, we have contributed to financial security for today's and tomorrow's Swedish pensioners.

Climate & Environment

Our view on sustainability

Climate and environment is a focus area in AP4's asset management and includes both climate change and climate transition, as well as areas such as biodiversity, resource efficiency and waste. In 2024, AP4 reduced its carbon footprint by 15% and by 70% since 2010.

If you as an investor want to take real responsibility and contribute to the climate transition in a powerful way, you must drive transition even in the most CO2-intensive parts of the economy.
CEO Niklas Ekvall
  • 885.5
    SEK billion in fund capital 2026-06-30
  • 56.1
    SEK billion net result 2026-06-30
  • 6.8
    % return after cost 2026-06-30
News
AP4 50 years
  • Press release

    Stable management in an uncertain market

    AP4’s portfolio returned 6.8% in the first half of 2026, with a net result of SEK 56.1 billion. Fund capital increased to SEK 885.5 billion at mid-year, after SEK 4.5 billion was transferred from AP4 to the national pension system during the first six months of the year and SEK 255.8 billion was transferred from AP1 at the beginning of the year.

  • News

    Annual report 2025: The Council on Ethics summarises an eventful year

    The year 2025 was characterised by turbulence and a complex global environment, marked by increased levels of conflict, growing polarisation in key sustainability areas, and rapid technological development. For the Council on Ethics of the Swedish National Pension Funds, this has led to a strong focus on extensive analysis based on international norms and conventions, as well as on systemic issues linked to the mining industry and the impact of big tech companies on human rights.

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All reports