IMPI

Ilmarinen Mutual Pension Insurance Portfolio holdings

AUM $12.4B

1-Year Return 17.9%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3

This Quarter Return

+1.2%

1 Year Return

+17.9%

3 Year Return

+76.54%

5 Year Return

+125.95%

10 Year Return

–

AUM

$5.49B

AUM Growth

–

Cap. Flow

+$5.49B

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

72.36%

Holding

202

New

201

Increased

–

Reduced

–

Closed

–

Top Buys

1	Xtrackers MSCI USA ESG Leaders Equity ETF USSG	+$1.35B
2	iShares ESG MSCI USA Leaders ETF SUSL	+$1.35B
3	SPDR Bloomberg Short Term High Yield Bond ETF SJNK	+$438M
4	iShares Core MSCI Emerging Markets ETF IEMG	+$338M
5	iShares Russell 1000 Growth ETF IWF	+$115M

Top Sells

No sells this quarter

Sector Composition

1	Financials	5.76%
2	Technology	4.84%
3	Industrials	3.66%
4	Healthcare	3.26%
5	Communication Services	2.47%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
51	51 3M MMM $83.4B	$11.5M	0.21%	+83,494	New	+$11.5M
52	52 Brown-Forman Class B BF.B $12.9B	$11.4M	0.21%	+181,681	New	+$11.4M
53	VMW 53 DELISTED VMware, Inc VMW	$11.3M	0.2%	+75,000	New	+$11.3M
54	54 iShares MSCI South Africa ETF EZA $445M	$11.1M	0.2%	+234,890	New	+$11.1M
55	55 Norfolk Southern NSC $62.4B	$11.1M	0.2%	+62,000	New	+$11.1M
56	56 Vanguard S&P 500 ETF VOO $752B	$11.1M	0.2%	+40,551	New	+$11.1M
57	57 Lowe's Companies LOW $152B	$11M	0.2%	+100,000	New	+$11M
58	58 Twilio TWLO $15.7B	$11M	0.2%	+100,000	New	+$11M
59	ZEN 59 DELISTED ZENDESK INC ZEN	$10.9M	0.2%	+150,000	New	+$10.9M
60	60 Gilead Sciences GILD $140B	$10.7M	0.19%	+169,000	New	+$10.7M
61	61 Netflix NFLX $510B	$10.7M	0.19%	+40,000	New	+$10.7M
62	62 Amazon AMZN $2.5T	$10.4M	0.19%	+120,000	New	+$10.4M
63	63 Alibaba BABA $387B	$10M	0.18%	+60,000	New	+$10M
64	64 Truist Financial TFC $57.5B	$9.77M	0.18%	+183,000	New	+$9.77M
65	65 Adobe ADBE $150B	$9.67M	0.17%	+35,000	New	+$9.67M
66	66 Huntington Bancshares HBAN $25.4B	$9.09M	0.16%	+637,000	New	+$9.09M
67	B 67 Barrick Mining Corporation B $49.2B	$8.91M	0.16%	+514,752	New	+$8.91M
68	68 Arthur J. Gallagher & Co AJG $74.2B	$8.78M	0.16%	+98,000	New	+$8.78M
69	69 Charles Schwab SCHW $165B	$8.7M	0.16%	+208,000	New	+$8.7M
70	70 M&T Bank MTB $30.5B	$8.69M	0.16%	+55,000	New	+$8.69M
71	71 Nutrien NTR $27.7B	$8.67M	0.16%	+174,000	New	+$8.67M
72	72 Thermo Fisher Scientific TMO $179B	$8.65M	0.16%	+29,700	New	+$8.65M
73	CELG 73 DELISTED Celgene Corp CELG	$8.54M	0.15%	+86,000	New	+$8.54M
74	74 McDonald's MCD $216B	$8.46M	0.15%	+39,389	New	+$8.46M
75	75 Fortive FTV $16.4B	$8.4M	0.15%	+146,388	New	+$8.4M