Mandatum Life Insurance Co Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Mandatum Life Insurance Co Ltd reported 77 stock positions worth $438.0 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 38.5% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 7.2%) and iShares Core MSCI Pacific Et (IPAC, 3.5%). Compared with Q3 2025, it opened 6 new positions, sold out of 10, added to 16 and reduced 14. The biggest buy was Tesla (TSLA, shares +199%) and the biggest sale Advanced Micro Devices (AMD, shares −96%).

Most Recent 13F
Q2 2026
Location
HELSINKI, H9
CIK
0001664324
Portfolio Value
$438.0M (Q4 2025)
SEC Filing
0001664324-26-000001 ↗ filed Feb 11, 2026

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $299.0M Q1 2024 Q2 2024: $298.6M Q2 2024 Q3 2024: $326.0M Q3 2024 Q4 2024: $337.4M Q4 2024 Q1 2025: $325.7M Q1 2025 Q2 2025: $379.9M Q2 2025 Q3 2025: $418.6M Q3 2025 Q4 2025: $438.0M $438.0M Q4 2025 Q1 2026: $444.8M Q1 2026 Q2 2026: $540.1M Q2 2026

Holdings 77 stocks · $438.0M
IVV iShares Core S&P 500 ETF 38.45% 245,868 $168.4M Add +4.1%
VOO Vanguard S&P 500 ETF 7.18% 50,132 $31.4M Add +12.6%
IPAC iShares Core MSCI Pacific Et 3.54% 211,923 $15.5M Add +15.1%
GOOGL Alphabet Inc. Class A 3.51% 49,095 $15.4M Reduce -5.2%
CSCO Cisco Systems Inc. 2.47% 140,464 $10.8M No change
MSFT Microsoft Corp. 2.42% 21,916 $10.6M Reduce -2.2%
C Citigroup Inc. 2.27% 85,383 $10.0M No change
META Meta Platforms Inc. Class A 2.25% 14,902 $9.8M Reduce -12.9%
JPM JPMorgan Chase & Co. 2.24% 30,502 $9.8M No change
MU Micron Technology Inc. 2.11% 32,351 $9.2M Reduce -27.7%
GEHC GE Healthcare Technology 1.87% 100,037 $8.2M No change
MA Mastercard Inc. Class A 1.86% 14,249 $8.1M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.62% 128,910 $7.1M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.58% 45,000 $6.9M No change
ROK Rockwell Automation Inc. 1.55% 17,500 $6.8M No change
EMR Emerson Electric Co. 1.52% 50,000 $6.6M No change
V Visa Inc. Class A 1.47% 18,332 $6.4M No change
GAP The Gap Inc. 1.46% 250,000 $6.4M No change
IWM iShares Russell 2000 ETF 1.44% 25,679 $6.3M Add +8.8%
IJR iShares Core S&P Small-Cap E 1.34% 48,720 $5.9M No change
MDT Medtronic PLC 1.30% 59,138 $5.7M No change
TSLA Tesla Inc. 1.12% 10,905 $4.9M Add +198.5%
MOO Vaneck Agribusiness ETF 1.00% 60,352 $4.4M Add +24.2%
TGT Target Corp. 1.00% 44,723 $4.4M No change
CARR Carrier Global Corp. 0.99% 81,662 $4.3M Add +20.9%
FLS Flowserve Corp. 0.95% 60,000 $4.2M Add +20.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.92% 35,303 $4.0M Reduce -0.2%
USMV iShares MSCI USA Min Vol Fac 0.89% 41,527 $3.9M No change
HUM Humana Inc. 0.82% 14,000 $3.6M No change
PLTR Palantir Technologies Inc. Class A 0.71% 17,470 $3.1M Reduce -3.2%
ABNB Airbnb Inc. Class A 0.70% 22,600 $3.1M No change
KMB Kimberly-Clark Corp. 0.60% 26,249 $2.6M No change
CL Colgate-Palmolive Co. 0.59% 32,500 $2.6M No change
EEM iShares MSCI Emerging Market 0.53% 42,083 $2.3M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.50% 27,237 $2.2M No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.47% 18,802 $2.1M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.45% 2,885 $2.0M No change
CMCSA Comcast Corp. Class A 0.45% 65,224 $1.9M No change
NVDA Nvidia Corp. 0.37% 8,659 $1.6M Add +26.5%
DE Deere & Co. 0.30% 2,798 $1.3M No change
SBSW Sibanye-Stillwater Ltd.-ADR 0.23% 71,282 $1.0M Reduce -27.7%
IJS iShares S&P Small-Cap 600 Va 0.23% 8,712 $991K No change
STLA Stellantis NV 0.19% 73,476 $817K No change
AAPL Apple Inc. 0.15% 2,482 $675K Reduce -13.9%
BRK.B Berkshire Hathaway Inc. Class B 0.14% 1,233 $620K Add +10.5%
AMZN Amazon.com Inc. 0.14% 2,578 $595K Reduce -40.1%
IYH iShares U.S. Healthcare ETF 0.13% 8,471 $551K No change
ICLN iShares Global Clean Energy 0.12% 33,227 $546K Reduce -1.6%
IXN iShares Global Tech ETF 0.12% 4,846 $509K No change
BABA Alibaba Group Holding-SP ADR 0.11% 3,226 $473K Reduce -7.7%
DGRO iShares Core Dividend Growth 0.10% 6,331 $439K No change
IYF iShares US Financials ETF 0.09% 3,113 $401K No change
BUR Burford Capital Ltd. 0.09% 43,000 $386K Add +16.2%
EEMA iShares MSCI Emerg MRKT Asia 0.08% 3,955 $372K No change
CRWD CrowdStrike Holdings Inc. Class A 0.08% 781 $366K Add +18.1%
AMD Advanced Micro Devices 0.08% 1,658 $355K Reduce -96.3%
QQQ Invesco QQQ Trust Series 1 0.08% 570 $350K New
IYW iShares Ustechnology ETF 0.08% 1,722 $344K No change
IEMG iShares Core MSCI Emerging 0.08% 4,954 $333K Reduce -9.0%
PFE Pfizer Inc. 0.07% 13,041 $325K Add +62.2%
AVGO Broadcom Inc. 0.06% 800 $277K No change
SE Sea Ltd.-ADR 0.06% 2,040 $260K Add +32.5%
FLOT iShares Floating Rate Bond E 0.06% 5,060 $257K No change
DASH DoorDash Inc. Class A 0.06% 1,112 $252K Add +2.8%
LLY Eli Lilly & Co. 0.06% 232 $249K New
GRAB Grab Holdings Ltd. Class A 0.05% 46,719 $233K Add +211.5%
WMT Walmart Inc. 0.05% 2,010 $224K No change
ORCL Oracle Corp. 0.05% 1,123 $219K No change
CMI Cummins Inc. 0.05% 426 $217K New
TSM Taiwan Semiconductor-SP ADR 0.05% 713 $217K New
CRBN Ish Low Car Opt Ms Ac ETF-US 0.05% 925 $213K No change
VTI VG Morningstar TS MKT ETF-US 0.05% 628 $211K No change
QCOM Qualcomm Inc. 0.05% 1,197 $205K New
SHY iShares 1-3 Year Treasury Bo 0.05% 2,470 $205K No change
O Realty Income Corp. 0.05% 3,603 $203K New
PLUG Plug Power Inc. 0.02% 36,470 $72K Reduce -37.9%
VIOT Viomi Technology Co. Ltd.-ADR 0.01% 34,000 $63K No change

Portfolio Sells Q3 2025 → Q4 2025
AMD Advanced Micro Devices Reduce -96.3% 0.08% −1.67
META Meta Platforms Inc. Class A Reduce -12.9% 2.25% −0.76
MSFT Microsoft Corp. Reduce -2.2% 2.42% −0.35
APLD Applied Digital Corp. Sold out 0.00% −0.22
EL Estee Lauder Companies Class A Sold out 0.00% −0.22
IREN Iren Ltd. Sold out 0.00% −0.19
APP AppLovin Corp. Class A Sold out 0.00% −0.14
ALAB Astera Labs Inc. Sold out 0.00% −0.10
CRWV Coreweave Inc. Class A Sold out 0.00% −0.09
AMZN Amazon.com Inc. Reduce -40.1% 0.14% −0.09
ZEPP Zepp Health Corp.-ADR Sold out 0.00% −0.08
PLTR Palantir Technologies Inc. Class A Reduce -3.2% 0.71% −0.08
NVTS Navitas Semiconductor Corp. Sold out 0.00% −0.07
IWB iShares Russell 1000 ETF Sold out 0.00% −0.05
DIS The Walt Disney Co. Reduce -0.2% 0.92% −0.05
BABA Alibaba Group Holding-SP ADR Reduce -7.7% 0.11% −0.04
AMCR Amcor PLC Sold out 0.00% −0.04
SBSW Sibanye-Stillwater Ltd.-ADR Reduce -27.7% 0.23% −0.03
AAPL Apple Inc. Reduce -13.9% 0.15% −0.02
PLUG Plug Power Inc. Reduce -37.9% 0.02% −0.02
IEMG iShares Core MSCI Emerging Reduce -9.0% 0.08% −0.01
ICLN iShares Global Clean Energy Reduce -1.6% 0.12% −0.00
MU Micron Technology Inc. Reduce -27.7% 2.11% +0.32
GOOGL Alphabet Inc. Class A Reduce -5.2% 3.51% +0.50

Portfolio Buys Q3 2025 → Q4 2025
TSLA Tesla Inc. Add +198.5% 1.12% +0.73
IVV iShares Core S&P 500 ETF Add +4.1% 38.45% +0.69
VOO Vanguard S&P 500 ETF Add +12.6% 7.18% +0.66
FLS Flowserve Corp. Add +20.0% 0.95% +0.32
IPAC iShares Core MSCI Pacific Et Add +15.1% 3.54% +0.31
MOO Vaneck Agribusiness ETF Add +24.2% 1.00% +0.15
QQQ Invesco QQQ Trust Series 1 New 0.08% +0.08
IWM iShares Russell 2000 ETF Add +8.8% 1.44% +0.08
NVDA Nvidia Corp. Add +26.5% 0.37% +0.06
LLY Eli Lilly & Co. New 0.06% +0.06
CMI Cummins Inc. New 0.05% +0.05
TSM Taiwan Semiconductor-SP ADR New 0.05% +0.05
QCOM Qualcomm Inc. New 0.05% +0.05
O Realty Income Corp. New 0.05% +0.05
GRAB Grab Holdings Ltd. Class A Add +211.5% 0.05% +0.03
PFE Pfizer Inc. Add +62.2% 0.07% +0.03
CARR Carrier Global Corp. Add +20.9% 0.99% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +10.5% 0.14% +0.01
CRWD CrowdStrike Holdings Inc. Class A Add +18.1% 0.08% +0.01
SE Sea Ltd.-ADR Add +32.5% 0.06% −0.01
DASH DoorDash Inc. Class A Add +2.8% 0.06% −0.01
BUR Burford Capital Ltd. Add +16.2% 0.09% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 90$540.1MIVV, VOO, IPAC, GOOGL, CSCO
Q1 2026 84$444.8MIVV, VOO, IPAC, GOOGL, CSCO
Q4 2025 77$438.0MIVV, VOO, IPAC, GOOGL, CSCO
Q3 2025 81$418.6MIVV, VOO, IPAC, GOOGL, META
Q2 2025 82$379.9MIVV, VOO, META, MSFT, IPAC
Q1 2025 74$325.7MIVV, VOO, META, CSCO, JPM
Q4 2024 81$337.4MIVV, META, VOO, GOOGL, MSFT
Q3 2024 84$326.0MIVV, META, KWEB, VOO, MSFT
Q2 2024 83$298.6MIVV, META, KWEB, VOO, MSFT
Q1 2024 83$299.0MIVV, KWEB, META, VOO, MSFT