Ilmarinen Mutual Pension Insurance Co
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Ilmarinen Mutual Pension Insurance Co reported 303 stock positions worth $13.3 billion. Its top holding was iShares Climate Conscious (USCL) at 19.7% of the portfolio, followed by Xtrack MSCI USA Clim Act Eq (USCA, 19.6%) and SS SPDR P High Yield ETF (SPHY, 5.3%). Compared with Q2 2025, it opened 16 new positions, sold out of 8, added to 72 and reduced 66. The biggest buy was Alphabet Class A (GOOGL, shares +3%) and the biggest sale Meta Platforms Class A (META, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- HELSINKI, H9
- CIK
- 0001661580
- Portfolio Value
- $13.3B (Q3 2025)
- SEC Filing
- 0001661580-25-000008 ↗ filed Nov 13, 2025
Holdings Value
Holdings 303 stocks · $13.3B
| USCL iShares Climate Conscious | 19.66% | 33,480,268 | $2.6B | Add +1.5% |
| USCA Xtrack MSCI USA Clim Act Eq | 19.59% | 63,394,611 | $2.6B | Add +1.4% |
| SPHY SS SPDR P High Yield ETF | 5.33% | 29,650,000 | $709.8M | Add +5.0% |
| USHY iShares Broad Usd High Yield | 4.94% | 17,430,000 | $658.5M | Add +2.0% |
| NVDA Nvidia Corp. | 3.85% | 2,750,147 | $513.1M | Add +1.0% |
| MSFT Microsoft Corp. | 3.08% | 793,498 | $411.0M | Add +0.8% |
| GOOGL Alphabet Inc. Class A | 3.04% | 1,665,197 | $404.8M | Add +3.1% |
| AMZN Amazon.com Inc. | 2.18% | 1,323,716 | $290.6M | Add +1.0% |
| META Meta Platforms Inc. Class A | 1.97% | 357,434 | $262.5M | Reduce -1.9% |
| TSLA Tesla Inc. | 1.55% | 465,000 | $206.8M | Add +3.5% |
| JPM JPMorgan Chase & Co. | 1.08% | 457,869 | $144.4M | No change |
| IYR iShares US Real Estate ETF | 0.95% | 1,302,977 | $126.5M | Add +52.4% |
| ORCL Oracle Corp. | 0.83% | 392,587 | $110.4M | Add +2.9% |
| V Visa Inc. Class A | 0.81% | 317,660 | $108.4M | No change |
| LLY Eli Lilly & Co. | 0.79% | 138,100 | $105.4M | Reduce -4.2% |
| MA Mastercard Inc. Class A | 0.71% | 166,025 | $94.4M | No change |
| XOM Exxon Mobil Corp. | 0.65% | 765,000 | $86.3M | No change |
| NFLX Netflix Inc. | 0.62% | 68,432 | $82.0M | Add +0.6% |
| PLTR Palantir Technologies Inc. Class A | 0.59% | 434,591 | $79.3M | Reduce -5.2% |
| JNJ Johnson & Johnson | 0.57% | 409,100 | $75.9M | Reduce -3.2% |
| WMT Walmart Inc. | 0.56% | 729,000 | $75.1M | Reduce -0.1% |
| HD Home Depot Inc. | 0.53% | 175,096 | $70.9M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 0.52% | 448,500 | $68.9M | Reduce -0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.51% | 1,305,620 | $67.4M | Reduce -2.3% |
| ABBV Abbvie Inc. | 0.50% | 287,500 | $66.6M | Reduce -7.7% |
| UNH Unitedhealth Group Inc. | 0.47% | 180,600 | $62.4M | No change |
| CRM Salesforce Inc. | 0.46% | 260,519 | $61.7M | Add +27.1% |
| CSCO Cisco Systems Inc. | 0.42% | 824,820 | $56.4M | Reduce -1.2% |
| AMD Advanced Micro Devices | 0.41% | 336,905 | $54.5M | Reduce -0.5% |
| KO The Coca-Cola Co. | 0.40% | 805,000 | $53.4M | Reduce -3.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.40% | 187,736 | $53.0M | Reduce -7.4% |
| CVX Chevron Corp. | 0.39% | 336,325 | $52.2M | Add +20.8% |
| BLK BlackRock Inc. | 0.38% | 43,553 | $50.8M | Reduce -8.6% |
| NOW ServiceNow Inc. | 0.33% | 48,458 | $44.6M | Reduce -0.7% |
| INTU Intuit Inc. | 0.33% | 63,552 | $43.4M | Add +3.6% |
| ADBE Adobe Inc. | 0.32% | 121,735 | $42.9M | Add +25.6% |
| ACN Accenture PLC Class A | 0.32% | 173,932 | $42.9M | Add +30.3% |
| PGR Progressive Corp. | 0.32% | 172,395 | $42.6M | Add +23.7% |
| MCD McDonald's Corp. | 0.32% | 138,397 | $42.1M | No change |
| ABT Abbott Laboratories | 0.31% | 307,500 | $41.2M | No change |
| QCOM Qualcomm Inc. | 0.29% | 230,718 | $38.4M | Reduce -1.0% |
| MRSH Marsh & McLennan Cos | 0.27% | 181,600 | $36.6M | Add +0.6% |
| MRK Merck & Co. Inc. | 0.27% | 433,000 | $36.3M | No change |
| MS Morgan Stanley | 0.27% | 223,984 | $35.6M | Reduce -8.6% |
| PEP Pepsico Inc. | 0.26% | 245,000 | $34.4M | Add +38.8% |
| CAT Caterpillar Inc. | 0.25% | 70,800 | $33.8M | Reduce -18.6% |
| WFC Wells Fargo & Co. | 0.25% | 396,500 | $33.2M | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 289,853 | $33.2M | Add +1.7% |
| ETN Eaton Corp. PLC | 0.25% | 88,600 | $33.2M | Add +3.5% |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 67,300 | $32.6M | Reduce -4.9% |
| MCK McKesson Corp. | 0.23% | 40,428 | $31.2M | No change |
| UBER Uber Technologies Inc. | 0.22% | 303,044 | $29.7M | Add +4.5% |
| T AT&T Inc. | 0.22% | 1,049,828 | $29.6M | Reduce -20.8% |
| NEE Nextera Energy Inc. | 0.22% | 390,356 | $29.5M | Reduce -13.3% |
| PANW Palo Alto Networks Inc. | 0.21% | 138,177 | $28.1M | Reduce -4.4% |
| BKNG Booking Holdings Inc. | 0.21% | 5,150 | $27.8M | No change |
| AMGN Amgen Inc. | 0.20% | 94,000 | $26.5M | No change |
| SNPS Synopsys Inc. | 0.19% | 52,299 | $25.8M | Add +28.4% |
| BSX Boston Scientific Corp. | 0.19% | 263,000 | $25.7M | No change |
| GS Goldman Sachs Group Inc. | 0.19% | 32,209 | $25.6M | Reduce -27.1% |
| ADI Analog Devices Inc. | 0.19% | 102,644 | $25.2M | Reduce -5.0% |
| VZ Verizon Communications Inc. | 0.19% | 573,790 | $25.2M | Reduce -16.1% |
| ICE Intercontinental Exchange Inc. | 0.19% | 147,800 | $24.9M | No change |
| CME Cme Group Inc. | 0.18% | 91,111 | $24.6M | Reduce -2.7% |
| SO The Southern Co. | 0.18% | 259,000 | $24.5M | Add +13.6% |
| CB Chubb Ltd. | 0.18% | 85,371 | $24.1M | No change |
| DHR Danaher Corp. | 0.18% | 121,500 | $24.1M | Reduce -6.2% |
| GILD Gilead Sciences Inc. | 0.18% | 216,000 | $24.0M | No change |
| TMUS T-Mobile US Inc. | 0.18% | 99,360 | $23.8M | Reduce -8.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.18% | 48,272 | $23.7M | Reduce -1.5% |
| DE Deere & Co. | 0.18% | 51,297 | $23.5M | Add +27.6% |
| PFE Pfizer Inc. | 0.17% | 887,000 | $22.6M | Reduce -9.7% |
| SCHW Schwab (charles) Corp. | 0.17% | 235,471 | $22.5M | Add +0.6% |
| WDAY Workday Inc. Class A | 0.17% | 93,049 | $22.4M | Add +41.6% |
| DUK Duke Energy Corp. | 0.16% | 175,000 | $21.7M | Add +6.1% |
| UNP Union Pacific Corp. | 0.16% | 91,500 | $21.6M | Add +4.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.16% | 68,100 | $21.1M | No change |
| EMR Emerson Electric Co. | 0.15% | 154,250 | $20.2M | Add +9.8% |
| ADP Automatic Data Processing | 0.15% | 67,000 | $19.7M | Add +1.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.14% | 175,000 | $19.1M | Reduce -16.7% |
| CTAS Cintas Corp. | 0.14% | 92,800 | $19.0M | Add +15.6% |
| CMCSA Comcast Corp. Class A | 0.14% | 598,749 | $18.8M | Add +5.3% |
| C Citigroup Inc. | 0.14% | 185,000 | $18.8M | Reduce -24.8% |
| SBUX Starbucks Corp. | 0.14% | 221,533 | $18.7M | No change |
| CDNS Cadence Design SYS Inc. | 0.14% | 52,621 | $18.5M | Reduce -8.5% |
| CEG Constellation Energy | 0.14% | 55,500 | $18.3M | Add +4.7% |
| CRH CRH PLC | 0.14% | 150,000 | $18.0M | No change |
| MELI MercadoLibre Inc. | 0.13% | 7,450 | $17.4M | No change |
| LIN Linde PLC | 0.12% | 34,870 | $16.6M | No change |
| MRVL Marvell Technology Inc. | 0.12% | 193,436 | $16.3M | Add +10.2% |
| BMY Bristol-Myers Squibb Co. | 0.12% | 352,500 | $15.9M | No change |
| TT Trane Technologies PLC | 0.12% | 37,500 | $15.8M | Add +41.5% |
| DASH DoorDash Inc. Class A | 0.12% | 58,000 | $15.8M | No change |
| AFL Aflac Inc. | 0.12% | 140,317 | $15.7M | No change |
| AXP American Express Co. | 0.12% | 47,000 | $15.6M | No change |
| XEL Xcel Energy Inc. | 0.12% | 191,500 | $15.4M | Add +19.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.11% | 38,800 | $15.2M | Reduce -13.4% |
| ECL Ecolab Inc. | 0.11% | 55,200 | $15.1M | No change |
| ELV Elevance Health Inc. | 0.11% | 46,600 | $15.1M | Add +22.3% |
| ISRG Intuitive Surgical Inc. | 0.11% | 33,300 | $14.9M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Reduce -1.9% | 1.97% | −0.19 |
| LLY Eli Lilly & Co. | Reduce -4.2% | 0.79% | −0.11 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.10 |
| T AT&T Inc. | Reduce -20.8% | 0.22% | −0.09 |
| IBM Intl Business Machines Corp. | Reduce -7.4% | 0.40% | −0.08 |
| KO The Coca-Cola Co. | Reduce -3.1% | 0.40% | −0.07 |
| NOW ServiceNow Inc. | Reduce -0.7% | 0.33% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -0.6% | 0.52% | −0.06 |
| WCN Waste Connections Inc. | Reduce -44.6% | 0.06% | −0.06 |
| HES Hess Corp. | Sold out | 0.00% | −0.06 |
| GS Goldman Sachs Group Inc. | Reduce -27.1% | 0.19% | −0.06 |
| CL Colgate-Palmolive Co. | Reduce -39.4% | 0.05% | −0.05 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.05 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.05 |
| RSG Republic Services Inc. | Reduce -35.6% | 0.06% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -16.1% | 0.19% | −0.05 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -13.4% | 0.11% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -20.6% | 0.10% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -1.2% | 0.42% | −0.04 |
| NI Nisource Inc. | Reduce -55.7% | 0.02% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -13.3% | 0.22% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -8.7% | 0.18% | −0.03 |
| C Citigroup Inc. | Reduce -24.8% | 0.14% | −0.03 |
| PANW Palo Alto Networks Inc. | Reduce -4.4% | 0.21% | −0.03 |
| MMM 3M Co. | Reduce -14.5% | 0.11% | −0.03 |
| DHR Danaher Corp. | Reduce -6.2% | 0.18% | −0.02 |
| KMI Kinder Morgan Inc. | Reduce -13.9% | 0.08% | −0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -1.5% | 0.18% | −0.02 |
| CME Cme Group Inc. | Reduce -2.7% | 0.18% | −0.02 |
| PFE Pfizer Inc. | Reduce -9.7% | 0.17% | −0.02 |
| BLK BlackRock Inc. | Reduce -8.6% | 0.38% | −0.02 |
| VRSK Verisk Analytics Inc. | Reduce -9.6% | 0.04% | −0.02 |
| OKE Oneok Inc. | Reduce -20.2% | 0.04% | −0.02 |
| LII Lennox International Inc. | Reduce -39.3% | 0.02% | −0.02 |
| SMCI Super Micro Computer Inc. | Reduce -36.4% | 0.03% | −0.02 |
| CAT Caterpillar Inc. | Reduce -18.6% | 0.25% | −0.02 |
| ADI Analog Devices Inc. | Reduce -5.0% | 0.19% | −0.02 |
| IR Ingersoll-Rand Inc. | Reduce -21.5% | 0.04% | −0.02 |
| BN Brookfield Corp. | Reduce -32.4% | 0.04% | −0.02 |
| CCEP Coca-Cola Europacific Partne | Reduce -3.1% | 0.11% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -21.0% | 0.06% | −0.01 |
| FWONK Liberty Media Corp. Class C | Reduce -46.1% | 0.01% | −0.01 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.01 |
| EQT Eqt Corp. | Reduce -9.4% | 0.05% | −0.01 |
| SUI Sun Communities Inc. | Sold out | 0.00% | −0.01 |
| SNAP Snap Inc. Class A | Sold out | 0.00% | −0.01 |
| BNY Bank of New York Mellon Corp. | Reduce -16.7% | 0.14% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -1.0% | 0.29% | −0.01 |
| MS Morgan Stanley | Reduce -8.6% | 0.27% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | Add +3.1% | 3.04% | +0.75 |
| TSLA Tesla Inc. | Add +3.5% | 1.55% | +0.40 |
| NVDA Nvidia Corp. | Add +1.0% | 3.85% | +0.39 |
| IYR iShares US Real Estate ETF | Add +52.4% | 0.95% | +0.30 |
| ORCL Oracle Corp. | Add +2.9% | 0.83% | +0.16 |
| CVX Chevron Corp. | Add +20.8% | 0.39% | +0.07 |
| PEP Pepsico Inc. | Add +38.8% | 0.26% | +0.07 |
| USCL iShares Climate Conscious | Add +1.5% | 19.66% | +0.06 |
| EEM iShares MSCI Emerging Market | Add +201.5% | 0.07% | +0.05 |
| HSY The Hershey Co. | New | 0.05% | +0.05 |
| WAB Wabtec Corp. | New | 0.04% | +0.04 |
| FDX FedEx Corp. | Add +202.1% | 0.06% | +0.04 |
| WDAY Workday Inc. Class A | Add +41.6% | 0.17% | +0.04 |
| EFX Equifax Inc. | New | 0.04% | +0.04 |
| USCA Xtrack MSCI USA Clim Act Eq | Add +1.4% | 19.59% | +0.04 |
| XLV SS Health Care Select Sector | New | 0.04% | +0.04 |
| BR Broadridge Financial Solutio | New | 0.03% | +0.03 |
| ES Eversource Energy | New | 0.03% | +0.03 |
| XEL Xcel Energy Inc. | Add +19.3% | 0.12% | +0.03 |
| SNPS Synopsys Inc. | Add +28.4% | 0.19% | +0.03 |
| TT Trane Technologies PLC | Add +41.5% | 0.12% | +0.03 |
| EOG EOG Resources Inc. | Add +111.9% | 0.05% | +0.02 |
| AME Ametek Inc. | Add +77.3% | 0.06% | +0.02 |
| J Jacobs Solutions Inc. | New | 0.02% | +0.02 |
| FTV Fortive Corp. | New | 0.02% | +0.02 |
| ADBE Adobe Inc. | Add +25.6% | 0.32% | +0.02 |
| ACM Aecom | New | 0.02% | +0.02 |
| IDXX Idexx Laboratories Inc. | Add +51.4% | 0.05% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +22.8% | 0.06% | +0.02 |
| PGR Progressive Corp. | Add +23.7% | 0.32% | +0.02 |
| TRU Transunion | New | 0.02% | +0.02 |
| XYL Xylem Inc. | Add +69.8% | 0.05% | +0.02 |
| AER Aercap Holdings NV | Add +36.9% | 0.08% | +0.02 |
| CSL Carlisle Cos Inc. | New | 0.02% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Add +23.4% | 0.07% | +0.02 |
| EXC Exelon Corp. | Add +32.1% | 0.07% | +0.02 |
| SO The Southern Co. | Add +13.6% | 0.18% | +0.02 |
| BAH Booz Allen Hamilton Holdings | New | 0.02% | +0.02 |
| IEX Idex Corp. | New | 0.02% | +0.02 |
| UPS United Parcel Service Class B | Add +59.7% | 0.08% | +0.01 |
| CRM Salesforce Inc. | Add +27.1% | 0.46% | +0.01 |
| VLTO Veralto Corp. | Add +72.9% | 0.03% | +0.01 |
| PAYC Paycom Software Inc. | New | 0.01% | +0.01 |
| KMB Kimberly-Clark Corp. | New | 0.01% | +0.01 |
| MRVL Marvell Technology Inc. | Add +10.2% | 0.12% | +0.01 |
| DE Deere & Co. | Add +27.6% | 0.18% | +0.01 |
| ELS Equity Lifestyle Properties | New | 0.01% | +0.01 |
| HUBS HubSpot Inc. | Add +56.3% | 0.06% | +0.01 |
| ILMN Illumina Inc. | Add +144.4% | 0.02% | +0.01 |
| SLB SLB Ltd. | Add +19.0% | 0.07% | +0.01 |
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 |