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Varma Mutual Pension Insurance Co.
Varma Mutual Pension Insurance Company is Finland's largest pension insurance provider, headquartered in Helsinki. Founded in 1998 through the merger of Pension-Sampo and another major segment, Varma is a mutual company owned by its client companies, self-employed customers, and insured employees. It provides statutory pension insurance (TyEL for employees and YEL for entrepreneurs) and is a major institutional investor managing statutory pension assets. Varma serves over 900,000 clients—including employees, entrepreneurs, and pensioners—and employs around 580 people.
Investment Strategy
Varma invests pension contributions profitably and securely to fund current and future pensions, with a focus on responsible and long-term value creation. The investment portfolio includes fixed income, equities, real estate, private equity, hedge funds, and infrastructure, with special consideration for ESG factors. Varma avoids investments in companies that manufacture tobacco, nuclear weapons, or generate more than 30% of electricity from coal. It emphasizes sustainability, corporate social responsibility, and ESG integration across all asset classes. About 25% of its total investments are allocated to Finland, and it maintains a stewardship role to influence portfolio companies for responsible practices.
Latest 13F Filing Activity
Varma Mutual Pension Insurance Co. filed their most recent 13F report on Jun 30, 2025 disclosing 306 equity positions with a total 13F market value of $14B. The fund increased holdings in DBX Etf TR, Nvidia Corporation, Microsoft Corp. among other positions. Varma Mutual Pension Insurance Co. reduced exposure to Ishares TR, SPDR Ser TR, DBX Etf TR among others.
Top Holdings
Equity Positions (306)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
E EMCS | DBX ETF TR | 5.53% | $751.1M | 24,060,680 | $29.96 | $31.22 | +$583.0M |
N NVDA | NVIDIA CORPORATION | 4.32% | $585.7M | 3,707,266 | $77.90 | $157.99 | +$206.3M |
M MSFT | MICROSOFT CORP | 3.85% | $522.0M | 1,049,476 | $317.38 | $497.41 | +$134.0M |
A AAPL | APPLE INC | 3.52% | $478.0M | 2,329,683 | $177.02 | $205.17 | -$19.0M |
A AMZN | AMAZON COM INC | 2.45% | $332.1M | 1,513,611 | $188.57 | $219.39 | +$101.1M |
Industry Allocation
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