# Heavy machinery# Automobiles# Military Industries# Services# Infrastructure# Logistics
List of biggest shareholders Shares: 24.56M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $672,972,238
VANGUARD STAR FUNDS-Vanguard Total International Stock Index Fund
Shares: 22.98M VOLV-B.ST
Date: Jul 31, 2025
Value ≈ $629,684,072
CAPITAL WORLD GROWTH & INCOME FUND
Shares: 21.75M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $596,017,519
EuroPacific Growth Fund-American Funds EUPAC Fund
Shares: 14.44M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $395,552,974
VANGUARD TAX-MANAGED FUNDS-Vanguard Developed Markets Index Fund
Shares: 13.69M VOLV-B.ST
Date: Jun 30, 2025
Value ≈ $375,172,445
iShares Trust-iShares Core MSCI EAFE ETF
Shares: 10.69M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $292,931,587
AMERICAN FUNDS GLOBAL BALANCED FUND
Shares: 6.84M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $187,511,959
iShares Trust-iShares MSCI EAFE ETF
Shares: 5.43M VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $148,641,599
Fidelity Concord Street Trust-Fidelity International Index Fund
Shares: 5.42M VOLV-B.ST
Date: Aug 31, 2025
Value ≈ $148,525,513
HARRIS ASSOCIATES INVESTMENT TRUST-Oakmark International Fund
Shares: 5.03M VOLV-B.ST
Date: Jun 30, 2025
Value ≈ $137,792,160
VANGUARD STAR FUNDS-Vanguard Total International Stock Index Fund
Shares: 2.44M VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $66,848,487
VANGUARD TAX-MANAGED FUNDS-Vanguard Developed Markets Index Fund
Shares: 2.12M VOLV-A.ST
Date: Jun 30, 2025
Value ≈ $57,993,966
VANGUARD STAR FUNDS-Vanguard Total International Stock Index Fund
Shares: 9.08M VOLCAR-B.ST
Date: Jul 31, 2025
Value ≈ $32,405,916
VANGUARD TAX-MANAGED FUNDS-Vanguard Developed Markets Index Fund
Shares: 5.6M VOLCAR-B.ST
Date: Jun 30, 2025
Value ≈ $20,004,173
VANGUARD Intl Eqy. INDEX Fd.S-Vanguard European Stock Index Fd.
Shares: 522.76k VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $14,317,369
SCHWAB STRATEGIC TRUST-Schwab International Equity ETF
Shares: 425.59k VOLV-A.ST
Date: Aug 31, 2025
Value ≈ $11,656,072
VANGUARD Intl Eqy. INDEX Fd.S-Vanguard FTSE All-World ex-US Index Fd.
Shares: 423.25k VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $11,591,765
DFA INVESTMENT DIMENSIONS GROUP INC-Intl Core Eqy. 2 PORT.
Shares: 313.53k VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $8,586,861
SCHWAB STRATEGIC TRUST-Schwab Fundamental International Equity ETF
Shares: 1.99M VOLCAR-B.ST
Date: Aug 31, 2025
Value ≈ $7,108,816
SPDR INDEX SHARES FUNDS-SPDR Portfolio Developed World ex-US ETF
Shares: 219.5k VOLV-A.ST
Date: Sep 30, 2025
Value ≈ $6,011,616
VANGUARD Intl Eqy. INDEX Fd.S-Vanguard European Stock Index Fd.
Shares: 1.52M VOLCAR-B.ST
Date: Jul 31, 2025
Value ≈ $5,434,300
First TRT Exch-Trd AlphaDEX Fd. II-First TRT Developed Markets ex-US A
Shares: 1.46M VOLCAR-B.ST
Date: Sep 30, 2025
Value ≈ $5,199,372
VANGUARD Intl Eqy. INDEX Fd.S-Vanguard FTSE All-World ex-US Index Fd.
Shares: 1.36M VOLCAR-B.ST
Date: Jul 31, 2025
Value ≈ $4,838,820
SCHWAB STRATEGIC TRUST-Schwab International Equity ETF
Shares: 1.29M VOLCAR-B.ST
Date: Aug 31, 2025
Value ≈ $4,609,332
DFA INVESTMENT DIMENSIONS GROUP INC-Intl Core Eqy. 2 PORT.
Shares: 1.22M VOLCAR-B.ST
Date: Jul 31, 2025
Value ≈ $4,367,360
VANGUARD Intl Eqy. INDEX Fd.S-Vanguard Total World Stock Index Fd.
Shares: 154.71k VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $4,237,080
First TRT Exch-Trd AlphaDEX Fd. II-First TRT Europe AlphaDEX Fd.
Shares: 1.18M VOLCAR-B.ST
Date: Sep 30, 2025
Value ≈ $4,225,044
SCHWAB STRATEGIC TRUST-Schwab Fundamental International Equity ETF
Shares: 151.93k VOLV-A.ST
Date: Aug 31, 2025
Value ≈ $4,161,134
VANGUARD WHITEHALL Fd.S-Vanguard Intl High Dividend Yield Index Fd.
Shares: 142.98k VOLV-A.ST
Date: Jul 31, 2025
Value ≈ $3,915,959
DFA INVESTMENT TRUST CO-THE DFA INTERNATIONAL VALUE SERIES
Shares: 916.7k VOLCAR-B.ST
Date: Jul 31, 2025
Value ≈ $3,272,489
Trust for Professional Managers-ActivePassive International Equity ETF
Shares: 70.75k VLVLY
Date: Aug 31, 2025
Value ≈ $1,946,957
Shares: 49.63k VLVLY
Date: Sep 30, 2025
Value ≈ $1,365,955
Ativo Capital Management, LLC
Shares: 42.78k VLVLY
Date: Sep 30, 2025
Value ≈ $1,177,195
Shares: 35k VOLV-B.ST
Date: Jun 30, 2025
Value ≈ $958,939
Ultimus Managers Trust-Blueprint Adaptive Growth Allocation Fund
Shares: 15.43k VLVLY
Date: Aug 31, 2025
Value ≈ $424,496
Shares: 12.88k VOLV-A.ST
Date: Sep 30, 2025
Value ≈ $352,727
Atlas Capital Advisors Inc
Shares: 7.85k VOLV-B.ST
Date: Jun 30, 2025
Value ≈ $214,994
Shares: 6.44k VLVLY
Date: Sep 30, 2025
Value ≈ $177,173
Minot Deblois Advisors LLC
Shares: 3.75k VOLV-B.ST
Date: Jun 30, 2025
Value ≈ $102,743
Shares: 1.55k VOLV-B.ST
Date: Sep 30, 2025
Value ≈ $42,467
First Horizon Advisors, Inc.
Shares: 1.51k VLVLY
Date: Jun 30, 2025
Value ≈ $41,610
PNC Financial Services Group, Inc.
Shares: 1.14k VLVLY
Date: Jun 30, 2025
Value ≈ $31,372
Shares: 4.66k VOLCAR-B.ST
Date: Jun 30, 2024
Value ≈ $16,625
Coston, McIsaac & Partners
Shares: 315 VLVLY
Date: Sep 30, 2025
Value ≈ $8,668
Shares: 268 VLVLY
Date: Sep 30, 2025
Value ≈ $7,375
Brooklyn Investment Group
Shares: 161 VLVLY
Date: Jun 30, 2025
Value ≈ $4,430
Last Updated: February 2025 Volvo Group Volvo Group is a Swedish-based, multinational public company, which manufactures trucks, buses, construction equipment, marine, and industrial engines, and military equipment for the Swedish, French, and American military. Volvo is a direct target for boycotts for its involvement in the demolition of Palestinian homes and construction of illegal settlements, with equipment supplied via its Israeli distributor.
Involvement in Illegal Settlements Volvo Group provides heavy machinery used for the demolition of Palestinian houses in the occupied West Bank, East Jerusalem, and equipment for the construction of illegal Israeli settlements, and of the Separation Wall.
According to Who Profits Volvo Buses, a subsidiary of the Volvo Group, owns 26.5% of Merkavim Transportation Technologies, a private Israeli company that manufactures armored buses used in bus routes to settlements in the occupied West Bank. Merkavim’s remaining shares are held by Mayer's Cars and Trucks, which is the exclusive distributor of Volvo in Israel.
Merkavim’s armored bus, the Mars Defender, was developed in collaboration with the Israeli military. Israel Military Industries (IMI), formerly a state-owned company and now part of Elbit Systems, developed the armor in a joint project with the Israeli Transportation Ministry, Israel Police and Egged.
Merkavim also provides services to the Nachshon Unit, the operational arm of IPS that is responsible, among other things, for the transport of prisoners.
Sources: 
