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

+5.76%

1 Year Return

+17.9%

3 Year Return

+76.54%

5 Year Return

+125.95%

10 Year Return

–

AUM

$9.18B

AUM Growth

+$601M (+7%)

Cap. Flow

+$144M

Cap. Flow % of AUM

1.57%

Top 10 Holdings % Top 10 Hldgs %

68.26%

Holding

280

New

Increased

Reduced

Closed

Top Buys

1	SPDR Bloomberg Short Term High Yield Bond ETF SJNK	+$103M
2	iShares Climate Conscious & Transition MSCI USA ETF USCL	+$14.6M
3	MRO Marathon Oil Corporation MRO	+$13.3M
4	Xtrackers MSCI USA Climate Action Equity ETF USCA	+$13.1M
5	Advanced Micro Devices AMD	+$10.7M

Top Sells

1	Blackrock BLK	+$26.1M
2	ConocoPhillips COP	+$18M
3	Exxon Mobil XOM	+$11.6M
4	Brown & Brown BRO	+$9.39M
5	PepsiCo PEP	+$8.42M

Sector Composition

1	Technology	14.05%
2	Healthcare	5.74%
3	Financials	5.34%
4	Consumer Discretionary	5.29%
5	Communication Services	4.99%

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
201	201 Constellation Brands STZ $23.9B	$3.09M	0.03%	12,000 -600	-5%	-$155K
202	202 Stanley Black & Decker SWK $12.2B	$3.08M	0.03%	28,000	–	–
203	203 Hubbell HUBB $23.3B	$3M	0.03%	7,000	–	–
204	204 American Water Works AWK $26.8B	$2.93M	0.03%	20,000	–	–
205	205 Fastenal FAST $54.8B	$2.88M	0.03%	80,706	–	–
206	206 Dover DOV $23.6B	$2.88M	0.03%	15,000	–	–
207	207 Cigna CI $79.3B	$2.77M	0.03%	8,000	–	–
208	208 Evolent Health EVH $1,000M	$2.77M	0.03%	98,000	–	–
209	209 PPG Industries PPG $24.7B	$2.72M	0.03%	20,500	–	–
210	210 lululemon athletica LULU $19B	$2.71M	0.03%	10,000	–	–
211	211 PTC PTC $24.5B	$2.71M	0.03%	15,000	–	–
212	212 Paychex PAYX $47.5B	$2.68M	0.03%	20,000	–	–
213	213 Elevance Health ELV $69.1B	$2.65M	0.03%	5,100	–	–
214	214 Corteva CTVA $47.6B	$2.65M	0.03%	45,000	–	–
215	215 NetEase NTES $98B	$2.57M	0.03%	27,452	–	–
216	216 Canadian Imperial Bank of Commerce CM $74B	$2.55M	0.03%	41,508	–	–
217	217 First Solar FSLR $22.2B	$2.49M	0.03%	10,000	–	–
218	218 Extra Space Storage EXR $30.5B	$2.47M	0.03%	13,700	–	–
219	219 IQVIA IQV $31.6B	$2.37M	0.03%	10,000	–	–
220	220 Expeditors International EXPD $16.9B	$2.35M	0.03%	17,898	–	–
221	221 Highwoods Properties HIW $3.48B	$2.35M	0.03%	70,000	–	–
222	222 VICI Properties VICI $35.3B	$2.33M	0.03%	70,000	–	–
223	223 Best Buy BBY $15.7B	$2.29M	0.03%	22,211	–	–
224	224 Atmos Energy ATO $26.6B	$2.29M	0.02%	16,500	–	–
225	225 Idexx Laboratories IDXX $51.5B	$2.27M	0.02%	4,500	–	–