Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co declares $4.5B in 88 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 30.5% of its $14.8B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Apple (0.01% of the company). Over time: $4.5B in 88 of these companies for Q2 2026, against $394.8M in 24 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $218.7M and sold $141.2M of these stocks, at the quarter's prices: a net purchase of $77.4M; 1 new position and 5 sold out.

Performance of its AI picks

The AI-stock portfolio Ilmarinen Mutual Pension Insurance Co declared for Q2 2026 (Form 13F), held unchanged, returned +5.3% in Q3 2026 (SMH -7.1%), ranked 553 of 1,783 active managers. Over the last 12 months, quarter after quarter: +22.4% (SMH +87.2%), ranked 1080 of 1,359 active managers. Over three years, quarter after quarter: +142.0% (SMH +325.8%), ranked 447 of 783 active managers. Over five years, quarter after quarter: +165.6% (SMH +389.8%), ranked 226 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. NVIDIA (NVDA) — $634.7M: 3.2M shares, 0.01% of the company, 4.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Apple (AAPL) — $583.4M: 2.0M shares, 0.01% of the company, 3.9% of its portfolio (added this quarter); held since Q1 2026
3. Alphabet (GOOGL) — $519.4M: 1.5M shares, 0.01% of the company, 3.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT) — $360.2M: 965,714 shares, 0.01% of the company, 2.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN) — $302.7M: 1.3M shares, 0.01% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q3 2023
6. Broadcom (AVGO) — $221.6M: 586,503 shares, 0.01% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2025
7. Micron (MU) — $185.6M: 160,806 shares, 0.01% of the company, 1.3% of its portfolio (added this quarter); held since Q1 2026
8. Meta Platforms (META) — $170.1M: 301,887 shares, 0.01% of the company, 1.1% of its portfolio (added this quarter); held since Q2 2021
9. AMD (AMD) — $126.5M: 217,777 shares, 0.01% of the company, 0.85% of its portfolio (added this quarter); held since Q1 2022
10. Intel (INTC) — $82.7M: 591,958 shares, 0.01% of the company, 0.56% of its portfolio (added this quarter); held since Q1 2026
11. Applied Materials (AMAT) — $82.5M: 114,103 shares, 0.01% of the company, 0.56% of its portfolio (added this quarter); held since Q1 2026
12. Lam Research (LRCX) — $75.9M: 175,225 shares, 0.01% of the company, 0.51% of its portfolio (added this quarter); held since Q1 2026
13. Caterpillar (CAT) — $69.8M: 65,500 shares, 0.01% of the company, 0.47% of its portfolio (trimmed this quarter); held since Q2 2025
14. KLA (KLAC) — $59.1M: 196,011 shares, 0.01% of the company, 0.40% of its portfolio (added this quarter); held since Q1 2026
15. Cisco (CSCO) — $58.1M: 494,225 shares, 0.01% of the company, 0.39% of its portfolio (added this quarter); held since Q2 2020

By sector

• Cloud & AI giants — $1.9B, 43% of its AI holdings, 6 companies
• Chips & compute — $1.2B, 27% of its AI holdings, 13 companies
• Power, electrical & cooling — $286.2M, 6% of its AI holdings, 16 companies
• AI software — $272.0M, 6% of its AI holdings, 19 companies
• Memory & storage — $255.6M, 6% of its AI holdings, 4 companies
• Equipment & test — $240.5M, 5% of its AI holdings, 7 companies
• Interconnect — $145.9M, 3% of its AI holdings, 6 companies
• Servers & systems — $63.1M, 1% of its AI holdings, 6 companies
• Optics — $57.7M, 1% of its AI holdings, 5 companies
• Neoclouds & data centers — $35.2M, 1% of its AI holdings, 6 companies

Biggest changes this quarter

• added to Apple (AAPL): +$37.6M at the quarter's price
• sold out of NextEra Energy (NEE): -$24.3M at the quarter's price
• added to Alphabet (GOOGL): +$16.5M at the quarter's price
• sold out of Duke Energy (DUK): -$16.3M at the quarter's price
• added to Broadcom (AVGO): +$14.4M at the quarter's price
• added to Meta Platforms (META): +$11.8M at the quarter's price
• added to Texas Instruments (TXN): +$10.5M at the quarter's price
• added to Cisco (CSCO): +$10.1M at the quarter's price
• added to KLA (KLAC): +$10.0M at the quarter's price
• added to Microsoft (MSFT): +$9.8M at the quarter's price

Other holders of this size

• Defiance ETFs, LLC — $4.5B in 134 of these companies
• Sarasin & Partners LLP — $4.5B in 17 of these companies
• ECP ControlCo, LLC — $4.5B in 2 of these companies
• MUFG Securities EMEA plc — $4.5B in 102 of these companies
• Jericho Capital Asset Management L.P. — $4.5B in 11 of these companies
• Schonfeld Strategic Advisors LLC — $4.6B in 164 of these companies
• FACTORY MUTUAL INSURANCE CO — $4.5B in 42 of these companies
• WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST — $4.6B in 7 of these companies

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