Shareholders and ownership changes
Ownership distribution as of 30 June 2026
- Solidium Oy* - 10.7%
- FAM AB** - 10.2%
- Social Insurance Institution of Finland (KELA) - 3.0%
- Finnish institutions (excl. Solidium and KELA) - 13.9%
- Swedish institutions (excl. FAM) - 2.1%
- Finnish private shareholders - 4.1%
- Swedish private shareholders - 2.9%
- ADR holders - 1.5%
- Under nominee accounts (non-Finnish/non-Swedish shareholders) - 51.9%
| Ownership distribution, 30 June 2026 | % of shares | Change % of shares Q1/26-Q2/26 | % of votes | Change % of votes Q1/26-Q2/26 |
|---|---|---|---|---|
| Solidium Oy* | 10.7% | - | 27.4% | - |
| FAM AB** | 10.2% | - | 27.4% | - |
| Social Insurance Institution of Finland (KELA) | 3.0% | - | 10.1% | - |
| Finnish institutions (excl. Solidium and KELA) | 13.9% | -2.1% | 9.0% | -1.1% |
| Swedish institutions (excl. FAM) | 2.1% | -0.4% | 1.1% | 0.3% |
| Finnish private shareholders | 4.1% | 2.6% | 2.4% | -2.1% |
| Swedish private shareholders | 2.9% | -1.0% | 2.0% | -1.3% |
| ADR holders | 1.5% | -1.2% | 0.5% | -2.2% |
| Under nominee accounts (non-Finnish/non-Swedish shareholders) | 51.9% | 0.5% | 20.1% | 0.4% |
**As confirmed to Stora Enso.
Major shareholders as of 30 June 2026
The list is updated quarterly.
Please note that the following list has been compiled by the company, based upon shareholder information from Euroclear Finland Oy and Euroclear Sweden AB share registers and a database managed by Citibank, N.A. (as the company's ADR agent bank). This information includes only direct registered holdings, thus certain holdings (which may be substantial) of ordinary shares and ADRs held in nominee or brokerage accounts can not be included. The list is therefore incomplete.
| By voting power | Country | A shares | R shares | Votes | % of shares | Change % of shares | % of votes | Change % of votes | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Solidium Oy* | FI | 62 655 036 | 21 792 540 | 64 834 290 | 10.7 % | 0.0 % | 27.4 % | 0.0 % |
| 2 | FAM AB** | SE | 63 123 386 | 17 000 000 | 64 823 386 | 10.2 % | 0.0 % | 27.4 % | 0.0 % |
| 3 | Social Insurance Institution of Finland | FI | 23 825 086 | 0 | 23 825 086 | 3.0 % | 0.0 % | 10.1 % | 0.0 % |
| 4 | Ilmarinen Mutual Pension Insurance Company | FI | 4 159 992 | 21 020 000 | 6 261 992 | 3.2 % | 1.4 % | 2.6 % | 0.5 % |
| 5 | Varma Mutual Pension Insurance Company | FI | 5 163 018 | 7 840 874 | 5 947 105 | 1.6 % | 0.0 % | 2.5 % | 0.0 % |
| 6 | MP-Bolagen i Vetlanda AB** | SE | 4 936 000 | 1 000 000 | 5 036 000 | 0.8 % | 0.0 % | 2.1 % | 0.0 % |
| 7 | Elo Mutual Pension Insurance Company | FI | 2 010 000 | 11 277 000 | 3 137 700 | 1.7 % | 4.7 % | 1.3 % | 1.9 % |
| 8 | E.J. Ljungberg’s Foundation | SE | 1 780 540 | 2 336 224 | 2 014 162 | 0.5 % | 0.0 % | 0.9 % | 0.0 % |
| 9 | Bergslaget's Healthcare Foundation | SE | 626 269 | 1 609 483 | 787 217 | 0.3 % | 0.0 % | 0.3 % | 0.0 % |
| 10 | Lannebo fonder | SE | 0 | 8 225 011 | 822 501 | 1.0 % | 11.0 % | 0.3 % | 11.0 % |
| 11 | The State Pension Fund | FI | 0 | 5 900 000 | 590 000 | 0.7 % | 5.4 % | 0.2 % | 5.4 % |
| 12 | Unionen (Swedish trade union) | SE | 0 | 5 000 000 | 500 000 | 0.6 % | 0.0 % | 0.2 % | 0.0 % |
| 13 | The Swedish Cultural Foundation in Finland | FI | 0 | 4 020 600 | 402 060 | 0.5 % | 0.0 % | 0.2 % | 0.0 % |
| 14 | OP Finland Index | FI | 0 | 3 612 929 | 361 293 | 0.5 % | 8.2 % | 0.2 % | 8.2 % |
| 15 | Seligson & Co OMX Helsinki 25 Fund | FI | 0 | 2 577 980 | 257 798 | 0.3 % | n/a | 0.1 % | n/a |
| 16 | Indecap AB | SE | 0 | 2 542 556 | 254 256 | 0.3 % | n/a | 0.1 % | n/a |
| 17 | Avanza Pension Insurance | SE | 107 190 | 1 433 495 | 250 540 | 0.2 % | -2.1 % | 0.1 % | -2.8 % |
| 18 | Nordea Finnish Stars Fund | FI | 0 | 2 490 542 | 249 054 | 0.3 % | -12.1 % | 0.1 % | -12.1 % |
| 19 | Danske Invest Finnish Equity Fund | FI | 0 | 2 249 176 | 224 918 | 0.3 % | 2.0 % | 0.1 % | 1.6 % |
| 20 | Savings Bank Domestic Mutual Fund | FI | 0 | 2 237 047 | 223 705 | 0.3 % | 0.0 % | 0.1 % | 0.0 % |
*Entirely owned by the Finnish State.
**As confirmed to Stora Enso.
Shareholders' announcements
The major shareholder announcements can be found under "Newsroom".
The free float of Stora Enso shares excluding shareholders with holdings of more than 5% of shares or votes is more than 70% of the total number of shares issued.
