Shareholders and ownership changes
Ownership distribution as of 30 September 2026
- Solidium Oy* - 10.7%
- FAM AB** - 10.2%
- Social Insurance Institution of Finland (KELA) - 3.0%
- Finnish institutions (excl. Solidium and KELA) - 13.2%
- Swedish institutions (excl. FAM) - 1.8%
- Finnish private shareholders - 4.0%
- Swedish private shareholders - 2.9%
- ADR holders - 1.6%
- Under nominee accounts (non-Finnish/non-Swedish shareholders) - 51.9%
| Ownership distribution, 30 September 2026 | % of shares | Change % of shares Q2/26-Q3/26 | % of votes | Change % of votes Q2/26-Q3/26 |
|---|---|---|---|---|
| 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) | 13.2% | -2.5% | 8.9% | -1.1% |
| Swedish institutions (excl. FAM) | 1.8% | -12.4% | 1.0% | -10.4% |
| Finnish private shareholders | 4.0% | -2.2% | 2.4% | -1.1% |
| Swedish private shareholders | 2.9% | -2.0% | 1.9% | -1.8% |
| ADR holders | 1.6% | 4.7% | 0.5% | -4.7% |
| Under nominee accounts (non-Finnish/non-Swedish shareholders) | 51.9% | 1.3% | 20.4% | 1.3% |
**As confirmed to Stora Enso.
Major shareholders as of 30 September 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 | 19 727 000 | 6 132 692 | 3.0 % | -5.1 % | 2.6 % | -2.1 % |
| 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 | 8 780 000 | 2 888 000 | 1.4 % | -18.8 % | 1.2 % | -8.0 % |
| 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 | Lannebo fonder | SE | 0 | 8 447 583 | 844 758 | 1.1 % | 2.7 % | 0.4 % | 2.7 % |
| 10 | Bergslaget's Healthcare Foundation | SE | 626 269 | 1 609 483 | 787 217 | 0.3 % | 0.0 % | 0.3 % | 0.0 % |
| 11 | The State Pension Fund | FI | 0 | 5 400 000 | 540 000 | 0.7 % | -8.5 % | 0.2 % | -8.5 % |
| 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 | 3 831 212 | 383 121 | 0.5 % | 6.0 % | 0.2 % | 6.0 % |
| 15 | Indecap AB | SE | 0 | 2 641 352 | 264 135 | 0.3 % | 3.9 % | 0.1 % | 3.9 % |
| 16 | OP-Suomi Investment Fund | FI | 0 | 2 583 007 | 258 301 | 0.3 % | n/a | 0.1 % | n/a |
| 17 | Avanza Pension Insurance | SE | 97 259 | 1 492 164 | 246 475 | 0.2 % | 3.2 % | 0.1 % | -1.6 % |
| 18 | Veritas Pension Insurance Company | FI | 0 | 2 405 374 | 240 537 | 0.3 % | n/a | 0.1 % | n/a |
| 19 | Nordea Finnish Stars Fund | FI | 0 | 2 291 455 | 229 146 | 0.3 % | -8.0 % | 0.1 % | -8.0 % |
| 20 | Danske Invest Finnish Equity Fund | FI | 0 | 2 249 176 | 224 918 | 0.3 % | 0.0 % | 0.1 % | 0.5 % |
*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.
