Ilmarinen Mutual Pension Insurance Co
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ilmarinen Mutual Pension Insurance Co reported 295 stock positions worth $12.4 billion. Its top holding was iShares Climate Conscious (USCL) at 19.6% of the portfolio, followed by Xtrack MSCI USA Clim Act Eq (USCA, 19.6%) and SS SPDR P High Yield ETF (SPHY, 5.4%). Compared with Q1 2025, it opened 17 new positions, sold out of 23, added to 94 and reduced 34. The biggest buy was Nvidia (NVDA, shares +23%) and the biggest sale an exit from Apple (AAPL).
- Most Recent 13F
- Q2 2026
- Location
- HELSINKI, H9
- CIK
- 0001661580
- Portfolio Value
- $12.4B (Q2 2025)
- SEC Filing
- 0001661580-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 295 stocks · $12.4B
| USCL iShares Climate Conscious | 19.60% | 32,992,268 | $2.4B | Add +2.7% |
| USCA Xtrack MSCI USA Clim Act Eq | 19.55% | 62,536,796 | $2.4B | Add +2.7% |
| SPHY SS SPDR P High Yield ETF | 5.41% | 28,250,000 | $672.4M | Reduce -8.3% |
| USHY iShares Broad Usd High Yield | 5.15% | 17,080,000 | $640.7M | Reduce -0.6% |
| NVDA Nvidia Corp. | 3.46% | 2,723,340 | $430.3M | Add +23.5% |
| MSFT Microsoft Corp. | 3.15% | 786,919 | $391.4M | Add +8.0% |
| AMZN Amazon.com Inc. | 2.31% | 1,310,216 | $287.4M | Reduce -2.1% |
| GOOGL Alphabet Inc. Class A | 2.29% | 1,614,888 | $284.6M | Add +0.3% |
| META Meta Platforms Inc. Class A | 2.16% | 364,500 | $269.0M | Add +3.7% |
| TSLA Tesla Inc. | 1.15% | 449,500 | $142.8M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.07% | 457,869 | $132.7M | No change |
| V Visa Inc. Class A | 0.91% | 317,660 | $112.8M | Reduce -2.0% |
| LLY Eli Lilly & Co. | 0.90% | 144,100 | $112.3M | Add +12.9% |
| MA Mastercard Inc. Class A | 0.75% | 166,025 | $93.3M | Reduce -2.5% |
| NFLX Netflix Inc. | 0.73% | 68,000 | $91.1M | Add +1.0% |
| ORCL Oracle Corp. | 0.67% | 381,587 | $83.4M | Add +26.7% |
| XOM Exxon Mobil Corp. | 0.66% | 765,000 | $82.5M | Add +13.3% |
| IYR iShares US Real Estate ETF | 0.65% | 854,977 | $81.0M | Reduce -18.4% |
| PG The Procter & Gamble Co. | 0.58% | 451,000 | $71.9M | Add +13.5% |
| WMT Walmart Inc. | 0.57% | 730,000 | $71.4M | Add +5.6% |
| HD Home Depot Inc. | 0.52% | 176,096 | $64.6M | Add +6.0% |
| JNJ Johnson & Johnson | 0.52% | 422,600 | $64.6M | Add +15.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.51% | 1,335,620 | $63.2M | Add +55.9% |
| PLTR Palantir Technologies Inc. Class A | 0.50% | 458,500 | $62.5M | Add +36.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.48% | 202,668 | $59.7M | Add +24.2% |
| KO The Coca-Cola Co. | 0.47% | 831,000 | $58.8M | Add +16.2% |
| CSCO Cisco Systems Inc. | 0.47% | 835,000 | $57.9M | Add +28.5% |
| ABBV Abbvie Inc. | 0.47% | 311,500 | $57.8M | Add +12.3% |
| UNH Unitedhealth Group Inc. | 0.45% | 180,600 | $56.3M | Add +10.4% |
| CRM Salesforce Inc. | 0.45% | 205,000 | $55.9M | Add +31.4% |
| NOW ServiceNow Inc. | 0.40% | 48,784 | $50.2M | Add +22.6% |
| BLK BlackRock Inc. | 0.40% | 47,653 | $50.0M | Add +2.3% |
| INTU Intuit Inc. | 0.39% | 61,324 | $48.3M | Add +17.2% |
| AMD Advanced Micro Devices | 0.39% | 338,500 | $48.0M | Add +29.2% |
| ABT Abbott Laboratories | 0.34% | 307,500 | $41.8M | Add +6.2% |
| MCD McDonald's Corp. | 0.33% | 138,397 | $40.4M | Add +3.0% |
| ACN Accenture PLC Class A | 0.32% | 133,500 | $39.9M | Add +30.2% |
| CVX Chevron Corp. | 0.32% | 278,500 | $39.9M | Reduce -9.3% |
| MRSH Marsh & McLennan Cos | 0.32% | 180,500 | $39.5M | Reduce -12.3% |
| T AT&T Inc. | 0.31% | 1,325,000 | $38.3M | Add +0.8% |
| ADBE Adobe Inc. | 0.30% | 96,951 | $37.5M | Add +26.0% |
| PGR Progressive Corp. | 0.30% | 139,395 | $37.2M | Reduce -25.3% |
| QCOM Qualcomm Inc. | 0.30% | 233,000 | $37.1M | Add +29.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 285,000 | $35.3M | No change |
| MS Morgan Stanley | 0.28% | 244,984 | $34.5M | Add +61.2% |
| MRK Merck & Co. Inc. | 0.28% | 433,000 | $34.3M | Add +7.4% |
| CAT Caterpillar Inc. | 0.27% | 87,000 | $33.8M | New |
| WFC Wells Fargo & Co. | 0.26% | 396,500 | $31.8M | No change |
| NEE Nextera Energy Inc. | 0.25% | 450,356 | $31.3M | Add +25.3% |
| GS Goldman Sachs Group Inc. | 0.25% | 44,159 | $31.3M | Add +33.2% |
| ETN Eaton Corp. PLC | 0.25% | 85,600 | $30.6M | No change |
| BKNG Booking Holdings Inc. | 0.24% | 5,150 | $29.8M | No change |
| MCK McKesson Corp. | 0.24% | 40,428 | $29.6M | No change |
| VZ Verizon Communications Inc. | 0.24% | 683,500 | $29.6M | Add +7.0% |
| PANW Palo Alto Networks Inc. | 0.24% | 144,500 | $29.6M | Add +31.4% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 70,800 | $28.7M | Add +5.2% |
| BSX Boston Scientific Corp. | 0.23% | 263,000 | $28.2M | No change |
| ICE Intercontinental Exchange Inc. | 0.22% | 147,800 | $27.1M | Reduce -6.3% |
| UBER Uber Technologies Inc. | 0.22% | 290,000 | $27.1M | No change |
| AMGN Amgen Inc. | 0.21% | 94,000 | $26.2M | Add +30.6% |
| TMUS T-Mobile US Inc. | 0.21% | 108,847 | $25.9M | Reduce -4.8% |
| CME Cme Group Inc. | 0.21% | 93,611 | $25.8M | Reduce -23.6% |
| ADI Analog Devices Inc. | 0.21% | 108,000 | $25.7M | Add +35.0% |
| DHR Danaher Corp. | 0.21% | 129,500 | $25.6M | Add +37.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.20% | 49,000 | $25.0M | Add +22.5% |
| CB Chubb Ltd. | 0.20% | 85,371 | $24.7M | Reduce -5.4% |
| GILD Gilead Sciences Inc. | 0.19% | 216,000 | $23.9M | Add +10.8% |
| PFE Pfizer Inc. | 0.19% | 982,000 | $23.8M | No change |
| PEP Pepsico Inc. | 0.19% | 176,500 | $23.3M | Add +8.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.18% | 68,100 | $21.8M | Reduce -10.5% |
| SCHW Schwab (charles) Corp. | 0.17% | 233,971 | $21.3M | Add +49.0% |
| C Citigroup Inc. | 0.17% | 246,000 | $20.9M | Add +35.9% |
| SO The Southern Co. | 0.17% | 228,000 | $20.9M | Add +8.6% |
| SNPS Synopsys Inc. | 0.17% | 40,746 | $20.9M | Add +20.7% |
| DE Deere & Co. | 0.16% | 40,197 | $20.4M | No change |
| ADP Automatic Data Processing | 0.16% | 66,000 | $20.4M | No change |
| SBUX Starbucks Corp. | 0.16% | 221,533 | $20.3M | No change |
| CMCSA Comcast Corp. Class A | 0.16% | 568,500 | $20.3M | Add +25.9% |
| UNP Union Pacific Corp. | 0.16% | 87,500 | $20.1M | No change |
| VRTX Vertex Pharmaceuticals Inc. | 0.16% | 44,800 | $19.9M | Add +34.5% |
| MELI MercadoLibre Inc. | 0.16% | 7,450 | $19.5M | Add +6.4% |
| DUK Duke Energy Corp. | 0.16% | 165,000 | $19.5M | Add +17.9% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.15% | 210,000 | $19.1M | No change |
| EMR Emerson Electric Co. | 0.15% | 140,500 | $18.7M | Reduce -21.3% |
| ISRG Intuitive Surgical Inc. | 0.15% | 33,300 | $18.1M | No change |
| CTAS Cintas Corp. | 0.14% | 80,300 | $17.9M | No change |
| MDLZ Mondelez International Inc. Class A | 0.14% | 265,000 | $17.9M | Add +10.4% |
| CDNS Cadence Design SYS Inc. | 0.14% | 57,500 | $17.7M | Add +27.8% |
| CEG Constellation Energy | 0.14% | 53,000 | $17.1M | Add +14.0% |
| MMM 3M Co. | 0.14% | 110,309 | $16.8M | Add +1977.8% |
| LIN Linde PLC | 0.13% | 34,870 | $16.4M | Reduce -69.8% |
| BMY Bristol-Myers Squibb Co. | 0.13% | 352,500 | $16.3M | No change |
| WDAY Workday Inc. Class A | 0.13% | 65,716 | $15.8M | Add +34.9% |
| AXP American Express Co. | 0.12% | 47,000 | $15.0M | No change |
| ECL Ecolab Inc. | 0.12% | 55,200 | $14.9M | No change |
| WM Waste Management Inc. | 0.12% | 65,000 | $14.9M | No change |
| CCEP Coca-Cola Europacific Partne | 0.12% | 160,000 | $14.8M | Reduce -3.0% |
| ELV Elevance Health Inc. | 0.12% | 38,100 | $14.8M | Add +647.1% |
| AFL Aflac Inc. | 0.12% | 140,317 | $14.8M | No change |
| NKE Nike Inc. Class B | 0.12% | 206,646 | $14.7M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Sold out | 0.00% | −2.51 |
| SPHY SS SPDR P High Yield ETF | Reduce -8.3% | 5.41% | −0.98 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.57 |
| USHY iShares Broad Usd High Yield | Reduce -0.6% | 5.15% | −0.45 |
| LIN Linde PLC | Reduce -69.8% | 0.13% | −0.34 |
| IYR iShares US Real Estate ETF | Reduce -18.4% | 0.65% | −0.24 |
| PGR Progressive Corp. | Reduce -25.3% | 0.30% | −0.17 |
| COP Conocophillips | Sold out | 0.00% | −0.16 |
| CVX Chevron Corp. | Reduce -9.3% | 0.32% | −0.13 |
| MRSH Marsh & McLennan Cos | Reduce -12.3% | 0.32% | −0.13 |
| V Visa Inc. Class A | Reduce -2.0% | 0.91% | −0.10 |
| FCX Freeport-McMoran Inc. | Reduce -76.0% | 0.03% | −0.08 |
| CME Cme Group Inc. | Reduce -23.6% | 0.21% | −0.08 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -2.5% | 0.75% | −0.08 |
| TMUS T-Mobile US Inc. | Reduce -4.8% | 0.21% | −0.06 |
| ATO Atmos Energy Corp. | Sold out | 0.00% | −0.06 |
| AJG Arthur J Gallagher & Co. | Reduce -10.5% | 0.18% | −0.06 |
| F Ford Motor Co. | Sold out | 0.00% | −0.05 |
| AON Aon PLC Class A | Reduce -42.1% | 0.04% | −0.05 |
| LNT Alliant Energy Corp. | Sold out | 0.00% | −0.05 |
| EEM iShares MSCI Emerging Market | Reduce -66.8% | 0.02% | −0.05 |
| CB Chubb Ltd. | Reduce -5.4% | 0.20% | −0.04 |
| CARR Carrier Global Corp. | Reduce -31.9% | 0.08% | −0.03 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.03 |
| RY Royal Bank of Canada | Reduce -50.9% | 0.03% | −0.02 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -6.3% | 0.22% | −0.02 |
| EMR Emerson Electric Co. | Reduce -21.3% | 0.15% | −0.02 |
| OKE Oneok Inc. | Reduce -2.1% | 0.06% | −0.02 |
| FANG Diamondback Energy Inc. | Reduce -12.5% | 0.05% | −0.02 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.02 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −0.02 |
| VICI Vici Properties Inc. | Sold out | 0.00% | −0.02 |
| PNR Pentair PLC | Sold out | 0.00% | −0.02 |
| SWK Stanley Black & Decker Inc. | Sold out | 0.00% | −0.02 |
| D Dominion Energy Inc. | Reduce -26.7% | 0.04% | −0.02 |
| HAL Halliburton Co. | Reduce -46.7% | 0.01% | −0.02 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.02 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -5.2% | 0.07% | −0.02 |
| OC Owens Corning | Sold out | 0.00% | −0.02 |
| XEL Xcel Energy Inc. | Reduce -3.9% | 0.09% | −0.02 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.02 |
| MANH Manhattan Associates Inc. | Sold out | 0.00% | −0.02 |
| TGT Target Corp. | Reduce -6.5% | 0.05% | −0.01 |
| EPAM Epam Systems Inc. | Sold out | 0.00% | −0.01 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.01 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.01 |
| MGM MGM Resorts International | Sold out | 0.00% | −0.01 |
| SRE Sempra | Reduce -30.9% | 0.02% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +23.5% | 3.46% | +1.34 |
| MSFT Microsoft Corp. | Add +8.0% | 3.15% | +0.73 |
| USCL iShares Climate Conscious | Add +2.7% | 19.60% | +0.48 |
| USCA Xtrack MSCI USA Clim Act Eq | Add +2.7% | 19.55% | +0.48 |
| META Meta Platforms Inc. Class A | Add +3.7% | 2.16% | +0.37 |
| ORCL Oracle Corp. | Add +26.7% | 0.67% | +0.30 |
| CAT Caterpillar Inc. | New | 0.27% | +0.27 |
| PLTR Palantir Technologies Inc. Class A | Add +36.9% | 0.50% | +0.25 |
| BAC Bank of America Corp. | Add +55.9% | 0.51% | +0.19 |
| NFLX Netflix Inc. | Add +1.0% | 0.73% | +0.18 |
| AMD Advanced Micro Devices | Add +29.2% | 0.39% | +0.15 |
| MMM 3M Co. | Add +1977.8% | 0.14% | +0.13 |
| NOW ServiceNow Inc. | Add +22.6% | 0.40% | +0.12 |
| IBM Intl Business Machines Corp. | Add +24.2% | 0.48% | +0.12 |
| MS Morgan Stanley | Add +61.2% | 0.28% | +0.12 |
| DASH DoorDash Inc. Class A | New | 0.12% | +0.12 |
| CSCO Cisco Systems Inc. | Add +28.5% | 0.47% | +0.11 |
| CRH CRH PLC | New | 0.11% | +0.11 |
| INTU Intuit Inc. | Add +17.2% | 0.39% | +0.10 |
| ELV Elevance Health Inc. | Add +647.1% | 0.12% | +0.10 |
| GS Goldman Sachs Group Inc. | Add +33.2% | 0.25% | +0.09 |
| GOOGL Alphabet Inc. Class A | Add +0.3% | 2.29% | +0.08 |
| CBOE Cboe Global Markets Inc. | New | 0.08% | +0.08 |
| CRM Salesforce Inc. | Add +31.4% | 0.45% | +0.08 |
| HOOD Robinhood Markets Inc. Class A | New | 0.08% | +0.08 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +22.5% | 0.20% | +0.08 |
| PANW Palo Alto Networks Inc. | Add +31.4% | 0.24% | +0.07 |
| DDOG Datadog Inc. Class A | New | 0.06% | +0.06 |
| ADI Analog Devices Inc. | Add +35.0% | 0.21% | +0.06 |
| SCHW Schwab (charles) Corp. | Add +49.0% | 0.17% | +0.06 |
| EQT Eqt Corp. | New | 0.06% | +0.06 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| C Citigroup Inc. | Add +35.9% | 0.17% | +0.05 |
| CEG Constellation Energy | Add +14.0% | 0.14% | +0.05 |
| QCOM Qualcomm Inc. | Add +29.4% | 0.30% | +0.05 |
| NET Cloudflare Inc. Class A | Add +26.0% | 0.10% | +0.05 |
| VRT Vertiv Holdings Co. Class A | New | 0.05% | +0.05 |
| VMC Vulcan Materials Co. | New | 0.05% | +0.05 |
| GDDY GoDaddy Inc. Class A | New | 0.04% | +0.04 |
| SNOW Snowflake Inc. | Add +22.9% | 0.11% | +0.04 |
| SMCI Super Micro Computer Inc. | New | 0.04% | +0.04 |
| CDNS Cadence Design SYS Inc. | Add +27.8% | 0.14% | +0.04 |
| ADBE Adobe Inc. | Add +26.0% | 0.30% | +0.04 |
| SNPS Synopsys Inc. | Add +20.7% | 0.17% | +0.04 |
| ACN Accenture PLC Class A | Add +30.2% | 0.32% | +0.04 |
| WMT Walmart Inc. | Add +5.6% | 0.57% | +0.04 |
| MELI MercadoLibre Inc. | Add +6.4% | 0.16% | +0.04 |
| DHR Danaher Corp. | Add +37.0% | 0.21% | +0.03 |
| RCL Royal Caribbean Cruises Ltd. | Add +8.0% | 0.10% | +0.03 |
| MRVL Marvell Technology Inc. | Add +25.4% | 0.11% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 445 | $14.8B | USCA, USCL, NVDA, AAPL, USHY |
| Q1 2026 | 462 | $12.7B | USCA, USCL, NVDA, USHY, AAPL |
| Q4 2025 | 331 | $12.5B | USCL, USCA, SPHY, USHY, NVDA |
| Q3 2025 | 303 | $13.3B | USCL, USCA, SPHY, USHY, NVDA |
| Q2 2025 | 295 | $12.4B | USCL, USCA, SPHY, USHY, NVDA |
| Q1 2025 | 301 | $11.3B | USCL, USCA, SPHY, USHY, AAPL |
| Q4 2024 | 293 | $11.7B | USCL, USCA, SPHY, USHY, AAPL |
| Q3 2024 | 271 | $9.2B | USCL, USCA, SJNK, NVDA, AAPL |
| Q2 2024 | 273 | $8.6B | USCL, USCA, SJNK, NVDA, MSFT |
| Q1 2024 | 265 | $8.2B | USCL, USCA, SJNK, NVDA, AMZN |