# EDGAR Filing Document

**Accession Number:** 0001661580
**File Stem:** 0001661580-26-000001
**Filing Date:** 2026-2
**Character Count:** 38765
**Document Hash:** dfd37d568ff0710eb08dd8f8c28f092e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001661580-26-000001.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001661580-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ilmarinen Mutual Pension Insurance Co
- **CENTRAL INDEX KEY:** 0001661580

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** H9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19643
- **FILM NUMBER:** 26613393

**BUSINESS ADDRESS:**
- **STREET 1:** PORKKALANKATU 1
- **CITY:** HELSINKI
- **STATE:** H9
- **ZIP:** 00180
- **BUSINESS PHONE:** 3581028411

**MAIL ADDRESS:**
- **STREET 1:** PORKKALANKATU 1
- **CITY:** HELSINKI
- **STATE:** H9
- **ZIP:** 00180

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Ilmarinen Mutual Pension Insurance Co<br>**Address:** PORKKALANKATU 1<br>HELSINKI, H9 00180

**Form 13F File Number:** 028-19643

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Anne Sarras-Naaralainen<br>**Title:** Head of Investment Accounting<br>**Phone:** 358102842744

**Signature, Place, and Date of Signing:**

Anne Sarras-Naaralainen  Helsinki, H9  02-10-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 331

**Form 13F Information Table Value Total:** $12538435

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABS | COM | 002824100 | BBG000B9ZXB4 | 35144 | 280500 | SH |  | SOLE |  | 280500 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RY4 | 65691 | 287500 | SH |  | SOLE |  | 287500 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 | BBG000D9D830 | 51093 | 190432 | SH |  | SOLE |  | 190432 | 0 | 0 |
| ADOBE SYS INC | COM | 00724F101 | BBG000BB5006 | 44881 | 128235 | SH |  | SOLE |  | 128235 | 0 | 0 |
| ADVANCE AUTO PTS INC | COM | 00751Y106 | BBG000F7RCJ1 | 220 | 5603 | SH |  | SOLE |  | 5603 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | BBG000BBQCY0 | 68789 | 321205 | SH |  | SOLE |  | 321205 | 0 | 0 |
| AECOM | COM | 00766T100 | BBG000F61RJ8 | 2002 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| AERCAP HOLDINGS N V | SHS | N00985106 | BBG000Q9FZL4 | 12795 | 89000 | SH |  | SOLE |  | 89000 | 0 | 0 |
| AFFILIATED MANAGERS GROUP INC | COM | 008252108 | BBG000C060M4 | 3386 | 11745 | SH |  | SOLE |  | 11745 | 0 | 0 |
| AFLAC INC | COM | 001055102 | BBG000BBBNC6 | 15473 | 140317 | SH |  | SOLE |  | 140317 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 | BBG000C2V3D6 | 3130 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| AIRBNB INC | CL A COM | 009066101 | BBG001Y2XS07 | 9772 | 72000 | SH |  | SOLE |  | 72000 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQUITIES INC | COM | 015271109 | BBG000BC33T9 | 915 | 18700 | SH |  | SOLE |  | 18700 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 | BBG000BFGNJ5 | 4971 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB30 | 9636 | 30708 | SH |  | SOLE |  | 30708 | 0 | 0 |
| ALPHABET INC | CL A | 02079K305 | BBG009S39JX6 | 353282 | 1128697 | SH |  | SOLE |  | 1128697 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG000BVPV84 | 288921 | 1251716 | SH |  | SOLE |  | 1251716 | 0 | 0 |
| AMCOR PLC | ORD USD0.01 | G0250X107 | BBG00LNJRQ09 | 2502 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG000BCQZS4 | 17388 | 47000 | SH |  | SOLE |  | 47000 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 | BBG000B9XYV2 | 5083 | 28949 | SH |  | SOLE |  | 28949 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 | BBG000TRJ294 | 4046 | 31000 | SH |  | SOLE |  | 31000 | 0 | 0 |
| AMERICOLD RLTY TR INC | COM | 03064D108 | BBG000QF05R6 | 707 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| AMETEK INC NEW | COM | 031100100 | BBG000B9XG87 | 8007 | 39000 | SH |  | SOLE |  | 39000 | 0 | 0 |
| AMGEN INC | COM | 031162100 | BBG000BBS2Y0 | 28541 | 87200 | SH |  | SOLE |  | 87200 | 0 | 0 |
| AMRIZE LTD | SHS | H2927K103 | BBG01T2JZXN5 | 3569 | 66000 | SH |  | SOLE |  | 66000 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 | BBG000BB6G37 | 26020 | 95944 | SH |  | SOLE |  | 95944 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 | BBG00SSQFPK6 | 17740 | 50272 | SH |  | SOLE |  | 50272 | 0 | 0 |
| ARGENX SE | SPONSORED ADS | 04016X101 | BBG00GHB88X9 | 3027 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| ATLASSIAN CORP | CL A | 049468101 | BBG01BGWHFR5 | 14998 | 92500 | SH |  | SOLE |  | 92500 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 | BBG000BRNGM2 | 3855 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG000BSJK37 | 23966 | 964828 | SH |  | SOLE |  | 964828 | 0 | 0 |
| AUTODESK INC | COM | 052769106 | BBG000BM7HL0 | 12130 | 40977 | SH |  | SOLE |  | 40977 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 | BBG000JG0547 | 17234 | 67000 | SH |  | SOLE |  | 67000 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 | BBG000BLPBL5 | 3354 | 18500 | SH |  | SOLE |  | 18500 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 | BBG000BCQ4P6 | 2364 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| BAKER HUGHES CO | CL A | 05722G100 | BBG00GBVBK51 | 7400 | 162500 | SH |  | SOLE |  | 162500 | 0 | 0 |
| BALL CORP | COM | 058498106 | BBG000BDDNH5 | 5403 | 102000 | SH |  | SOLE |  | 102000 | 0 | 0 |
| BANK AMER CORP | COM | 060505104 | BBG000BCTLF6 | 69774 | 1268620 | SH |  | SOLE |  | 1268620 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 | BBG000BXSQ97 | 3086 | 23701 | SH |  | SOLE |  | 23701 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 | BBG000BD8PN9 | 20316 | 175000 | SH |  | SOLE |  | 175000 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 | BBG000BCZYD3 | 7666 | 39500 | SH |  | SOLE |  | 39500 | 0 | 0 |
| BENTLEY SYS INC | CL B | 08265T208 | BBG000BMSRR9 | 210 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| BEST BUY INC | COM | 086516101 | BBG000BCWCG1 | 1487 | 22211 | SH |  | SOLE |  | 22211 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 | BBG000C17X76 | 3062 | 17400 | SH |  | SOLE |  | 17400 | 0 | 0 |
| BLACKROCK INC NEW | COM | 09290D101 | BBG01PSW2WN4 | 46617 | 43553 | SH |  | SOLE |  | 43553 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 | BBG000BH0106 | 10636 | 69000 | SH |  | SOLE |  | 69000 | 0 | 0 |
| BLOCK INC | CL A | 852234103 | BBG0018SLC07 | 7160 | 110000 | SH |  | SOLE |  | 110000 | 0 | 0 |
| BOOKING HLDGS INC | COM | 09857L108 | BBG000BLBVN4 | 27580 | 5150 | SH |  | SOLE |  | 5150 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG CORP | CL A | 099502106 | BBG000R2YFG7 | 1750 | 20750 | SH |  | SOLE |  | 20750 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 | BBG000C0LW92 | 25077 | 263000 | SH |  | SOLE |  | 263000 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 | BBG000DQLV23 | 17034 | 315800 | SH |  | SOLE |  | 315800 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5S69 | 309517 | 894300 | SH |  | SOLE |  | 894300 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS INC | COM | 11133T103 | BBG000PPFKQ7 | 4352 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| BROOKFIELD CORP | VTG SHS CL A | 11271J107 | BBG000C9K6K8 | 4902 | 106500 | SH |  | SOLE |  | 106500 | 0 | 0 |
| BROWN FORMAN CORP | CL B | 115637209 | BBG000BD2NY8 | 2389 | 91681 | SH |  | SOLE |  | 91681 | 0 | 0 |
| BXP INC | COM | 101121101 | BBG000BS5CM9 | 3066 | 45430 | SH |  | SOLE |  | 45430 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 | BBG000BTCH57 | 2080 | 12937 | SH |  | SOLE |  | 12937 | 0 | 0 |
| CADENCE DESIGN SYS INC | COM | 127387108 | BBG000C13CD9 | 15161 | 48503 | SH |  | SOLE |  | 48503 | 0 | 0 |
| CANADIAN IMPERIAL BK COMM TORONTO ONT | COM | 136069101 | BBG000BY34Q2 | 3772 | 41508 | SH |  | SOLE |  | 41508 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 | BBG000D898T9 | 4932 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 | BBG000BGGBT8 | 2319 | 7250 | SH |  | SOLE |  | 7250 | 0 | 0 |
| CARRIER GLOBAL CORP | COM | 14448C104 | BBG00RP5HYS8 | 6832 | 129300 | SH |  | SOLE |  | 129300 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 | BBG000BF0K17 | 43996 | 76800 | SH |  | SOLE |  | 76800 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 | BBG000QH56C1 | 10617 | 42300 | SH |  | SOLE |  | 42300 | 0 | 0 |
| CENCORA INC | COM | 03073E105 | BBG000MDCQC2 | 2871 | 8500 | SH |  | SOLE |  | 8500 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 | BBG000FDBX90 | 3834 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD | SHARE | M22465104 | BBG000K82ZT8 | 2630 | 14172 | SH |  | SOLE |  | 14172 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 | BBG000QX74T1 | 7955 | 215000 | SH |  | SOLE |  | 215000 | 0 | 0 |
| CHUBB LTD | COM | H1467J104 | BBG000BR14K5 | 26646 | 85371 | SH |  | SOLE |  | 85371 | 0 | 0 |
| CHURCH  DWIGHT INC | COM | 171340102 | BBG000BFJT36 | 3312 | 39500 | SH |  | SOLE |  | 39500 | 0 | 0 |
| CIGNA GROUP | COM | 125523100 | BBG00KXRCDP0 | 7156 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| CINTAS CORP | COM | 172908105 | BBG000H3YXF8 | 17453 | 92800 | SH |  | SOLE |  | 92800 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 | BBG000C3J3C9 | 53214 | 690820 | SH |  | SOLE |  | 690820 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 | BBG000FY4S11 | 40725 | 349000 | SH |  | SOLE |  | 349000 | 0 | 0 |
| CLOROX CO | COM | 189054109 | BBG000BFS7D3 | 1966 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| CLOUDFLARE INC | CL A | 18915M107 | BBG001WMKHH5 | 7143 | 36229 | SH |  | SOLE |  | 36229 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 | BBG000BHLYP4 | 19829 | 72611 | SH |  | SOLE |  | 72611 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG000BMX289 | 52013 | 744000 | SH |  | SOLE |  | 744000 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNERS PLC | SHS EURO | G25839104 | BBG00B6BFWH9 | 8480 | 93500 | SH |  | SOLE |  | 93500 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIONS CORP | CL A | 192446102 | BBG000BBDV81 | 10960 | 132045 | SH |  | SOLE |  | 132045 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 | BBG000BFQYY3 | 9482 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG000BFT2L4 | 23994 | 802749 | SH |  | SOLE |  | 802749 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG000BQQH30 | 19658 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 | BBG000BHLYS1 | 5761 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 | BBG014KFRNP7 | 17840 | 50500 | SH |  | SOLE |  | 50500 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 | BBG00BN969C1 | 4357 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| COUSINS PPTYS INC | COM NEW | 222795502 | BBG000CW9BM7 | 2101 | 81500 | SH |  | SOLE |  | 81500 | 0 | 0 |
| CRH PLC | SHS | G25508105 | BBG000D3JXM1 | 18720 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 | BBG00BLYKS03 | 19722 | 42072 | SH |  | SOLE |  | 42072 | 0 | 0 |
| CSX CORP | COM | 126408103 | BBG000BGJRC8 | 10857 | 299500 | SH |  | SOLE |  | 299500 | 0 | 0 |
| CUMMINS INC | COM | 231021106 | BBG000BGPTV6 | 11791 | 23100 | SH |  | SOLE |  | 23100 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 | BBG000BGRY34 | 2936 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| DANAHER CORP | COM | 235851102 | BBG000BH3JF8 | 27814 | 121500 | SH |  | SOLE |  | 121500 | 0 | 0 |
| DATADOG INC | CL A | 23804L103 | BBG003NJHZT9 | 7547 | 55500 | SH |  | SOLE |  | 55500 | 0 | 0 |
| DBX ETF TR | XTRACKERS MSCI USA CLIMATE ACTION EQUITY ETF | 23306X605 | BBG01G26Y9Y3 | 2259113 | 54001846 | SH |  | SOLE |  | 54001846 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 | BBG000BKXYX5 | 3006 | 29000 | SH |  | SOLE |  | 29000 | 0 | 0 |
| DEERE  CO | COM | 244199105 | BBG000BH1NH9 | 23882 | 51297 | SH |  | SOLE |  | 51297 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 | BBG00DW3SZS1 | 9366 | 74401 | SH |  | SOLE |  | 74401 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 | BBG002PHSYX9 | 4510 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| DICKS SPORTING GOODS INC | OC-COM | 253393102 | BBG000F6ZWH2 | 3534 | 17850 | SH |  | SOLE |  | 17850 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 | BBG000Q5ZRM7 | 5044 | 32600 | SH |  | SOLE |  | 32600 | 0 | 0 |
| DISNEY WALT CO | DISNEY COM | 254687106 | BBG000BH4R78 | 33545 | 294853 | SH |  | SOLE |  | 294853 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 | BBG000N7KJX8 | 3119 | 45597 | SH |  | SOLE |  | 45597 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 | BBG000BSC0K9 | 1511 | 12282 | SH |  | SOLE |  | 12282 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG000BGVW60 | 7998 | 136500 | SH |  | SOLE |  | 136500 | 0 | 0 |
| DOVER CORP | COM | 260003108 | BBG000BHB3M6 | 4491 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG000BHGDH5 | 14593 | 124500 | SH |  | SOLE |  | 124500 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 | BBG00BN961G4 | 2613 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 | BBG000BJ3PD2 | 28220 | 88600 | SH |  | SOLE |  | 88600 | 0 | 0 |
| EBAY INC | COM | 278642103 | BBG000C43RR5 | 6533 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| ECOLAB INC | COM | 278865100 | BBG000BHKYH4 | 13966 | 53200 | SH |  | SOLE |  | 53200 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 | BBG000BRXP69 | 5627 | 66000 | SH |  | SOLE |  | 66000 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 | BBG000BCG930 | 12059 | 34400 | SH |  | SOLE |  | 34400 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 | BBG000BBRPL4 | 3059 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 | BBG000BHX7N2 | 20472 | 154250 | SH |  | SOLE |  | 154250 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG000BZ9223 | 9136 | 87000 | SH |  | SOLE |  | 87000 | 0 | 0 |
| EPR PPTYS | COM SH BEN INT | 26884U109 | BBG000BSZYR3 | 893 | 17900 | SH |  | SOLE |  | 17900 | 0 | 0 |
| EQT CORP | COM | 26884L109 | BBG000BHZ5J9 | 5146 | 96000 | SH |  | SOLE |  | 96000 | 0 | 0 |
| EQUIFAX INC | COM | 294429105 | BBG000BHPL78 | 4502 | 20750 | SH |  | SOLE |  | 20750 | 0 | 0 |
| EQUINIX INC | COM PAR $0.001 | 29444U700 | BBG000MBDGM6 | 4750 | 6200 | SH |  | SOLE |  | 6200 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 | BBG000BG8M31 | 4009 | 63600 | SH |  | SOLE |  | 63600 | 0 | 0 |
| ESSENTIAL UTILS INC | COM | 29670G102 | BBG000BRMJN6 | 1726 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| ESSEX PPTY TR INC | COM | 297178105 | BBG000CGJMB9 | 523 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 | BBG000BQ87N0 | 3939 | 58500 | SH |  | SOLE |  | 58500 | 0 | 0 |
| EXELON CORP | COM | 30161N101 | BBG000J6XT05 | 7105 | 163000 | SH |  | SOLE |  | 163000 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 | BBG000BJ5GK2 | 2667 | 17898 | SH |  | SOLE |  | 17898 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 | BBG000PV27K3 | 4727 | 36300 | SH |  | SOLE |  | 36300 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG000GZQ728 | 88450 | 735000 | SH |  | SOLE |  | 735000 | 0 | 0 |
| FASTENAL CO | COM | 311900104 | BBG000BJ8YN7 | 3239 | 80706 | SH |  | SOLE |  | 80706 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 | BBG000BJF1Z8 | 10471 | 36250 | SH |  | SOLE |  | 36250 | 0 | 0 |
| FIDELITY NATL INFORMATION SVCS INC | COM | 31620M106 | BBG000BK2F42 | 6048 | 91000 | SH |  | SOLE |  | 91000 | 0 | 0 |
| FISERV INC | COM | 337738108 | BBG000BJKPG0 | 5709 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| FLUTTER ENTMT PLC | ORD SHS | G3643J108 | BBG000P2GPN9 | 6021 | 28000 | SH |  | SOLE |  | 28000 | 0 | 0 |
| FORTINET INC | COM | 34959E109 | BBG000BCMBG4 | 11440 | 144066 | SH |  | SOLE |  | 144066 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 | BBG00BLVZ228 | 3133 | 56750 | SH |  | SOLE |  | 56750 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG000BJDB15 | 3962 | 78000 | SH |  | SOLE |  | 78000 | 0 | 0 |
| F5 INC | COM | 315616102 | BBG000CXYSZ6 | 2991 | 11717 | SH |  | SOLE |  | 11717 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 | BBG000BBHXQ3 | 17624 | 68100 | SH |  | SOLE |  | 68100 | 0 | 0 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 | BBG003MSMCS6 | 2145 | 48000 | SH |  | SOLE |  | 48000 | 0 | 0 |
| GARTNER INC | COM | 366651107 | BBG000BB65D0 | 7361 | 29177 | SH |  | SOLE |  | 29177 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 | BBG013G17W31 | 6536 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 | BBG000BH2JM1 | 3209 | 118021 | SH |  | SOLE |  | 118021 | 0 | 0 |
| GENERAL ELEC CO | COM NEW | 369604301 | BBG000BK6MB5 | 18790 | 61000 | SH |  | SOLE |  | 61000 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 | BBG000BKCFC2 | 4743 | 102000 | SH |  | SOLE |  | 102000 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 | BBG000NDYB67 | 13011 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 | BBG000CKGBP2 | 24303 | 198000 | SH |  | SOLE |  | 198000 | 0 | 0 |
| GODADDY INC | CL A | 380237107 | BBG006MDLY05 | 7796 | 62833 | SH |  | SOLE |  | 62833 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG000C6CFJ5 | 29454 | 33509 | SH |  | SOLE |  | 33509 | 0 | 0 |
| GRACO INC | COM | 384109104 | BBG000BK9W84 | 2131 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| GRAINGER W W INC | COM | 384802104 | BBG000BKR1D6 | 4116 | 4079 | SH |  | SOLE |  | 4079 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 | BBG000BKTFN2 | 869 | 30744 | SH |  | SOLE |  | 30744 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG000QW7VC1 | 5602 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| HERSHEY CO | COM | 427866108 | BBG000BLHRS2 | 4277 | 23500 | SH |  | SOLE |  | 23500 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE CO | COM | 42824C109 | BBG0078W3NQ3 | 5597 | 233000 | SH |  | SOLE |  | 233000 | 0 | 0 |
| HIGHWOODS PPTYS INC | COM | 431284108 | BBG000C43744 | 1807 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM NEW | 43300A203 | BBG0058KMH30 | 11059 | 38500 | SH |  | SOLE |  | 38500 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG000BKZB36 | 60251 | 175096 | SH |  | SOLE |  | 175096 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 | BBG000BL8804 | 2012 | 113500 | SH |  | SOLE |  | 113500 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 | BBG00DYNJGH9 | 4100 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 | BBG000N7MZ06 | 14037 | 34979 | SH |  | SOLE |  | 34979 | 0 | 0 |
| HUDSON PAC PPTYS INC | COM NEW | 444097406 | BBG000QC4T33 | 252 | 23285 | SH |  | SOLE |  | 23285 | 0 | 0 |
| HUMANA INC | COM | 444859102 | BBG000BLKK03 | 3586 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| HYATT HOTELS CORP | COM CL A | 448579102 | BBG000CVRFS4 | 1122 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| IDEX CORP | COM | 45167R104 | BBG000C1HN22 | 2224 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 | BBG000BLRT07 | 7171 | 10600 | SH |  | SOLE |  | 10600 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 | BBG000DSMS70 | 2886 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 | BBG002R1CW27 | 5347 | 67500 | SH |  | SOLE |  | 67500 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE INC | COM | 45866F104 | BBG000C1FB75 | 21589 | 133300 | SH |  | SOLE |  | 133300 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS CORP | COM | 459200101 | BBG000BLNNH6 | 52351 | 176736 | SH |  | SOLE |  | 176736 | 0 | 0 |
| INTERNATIONAL FLAVORS  FRAGRANCES INC | COM | 459506101 | BBG000BLSL58 | 3370 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| INTUIT | COM | 461202103 | BBG000BH5DV1 | 38108 | 57529 | SH |  | SOLE |  | 57529 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 | BBG000BJPDZ1 | 18860 | 33300 | SH |  | SOLE |  | 33300 | 0 | 0 |
| INVITATION HOMES INC | COM | 46187W107 | BBG00FQH6BS9 | 2807 | 101000 | SH |  | SOLE |  | 101000 | 0 | 0 |
| IONQ INC | COM | 46222L108 | BBG00XZP0LB4 | 2829 | 63058 | SH |  | SOLE |  | 63058 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 | BBG00333FYS2 | 3381 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH YIELD CORPORATE BD ETF | 46435U853 | BBG00J2DRZT9 | 526522 | 14080000 | SH |  | SOLE |  | 14080000 | 0 | 0 |
| ISHARES TR | CLIMATE CONSCIOUS  TRANSITION MSCI USA ETF | 46436E155 | BBG01GX6C857 | 2262802 | 28476890 | SH |  | SOLE |  | 28476890 | 0 | 0 |
| ISHARES TR | MSCI EMERGING MKTS INDEX FD | 464287234 | BBG000M0P5L2 | 45982 | 840469 | SH |  | SOLE |  | 840469 | 0 | 0 |
| ISHARES TR | US REAL ESTATE ETF | 464287739 | BBG000BXW687 | 112347 | 1196577 | SH |  | SOLE |  | 1196577 | 0 | 0 |
| JACKSON FINL INC | CL A | 46817M107 | BBG00922Y5Z6 | 1454 | 13638 | SH |  | SOLE |  | 13638 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 | BBG019C1BQR4 | 2517 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG000BMHYD1 | 84042 | 406100 | SH |  | SOLE |  | 406100 | 0 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 | BBG000BVWLJ6 | 13023 | 108750 | SH |  | SOLE |  | 108750 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG000DMBXR2 | 147535 | 457869 | SH |  | SOLE |  | 457869 | 0 | 0 |
| KENVUE INC | COM | 49177J102 | BBG01C79X561 | 4830 | 280000 | SH |  | SOLE |  | 280000 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 | BBG000TJM7F0 | 5322 | 190000 | SH |  | SOLE |  | 190000 | 0 | 0 |
| KILROY RLTY CORP | COM | 49427F108 | BBG000BLMXN8 | 2055 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 | BBG000BMW2Z0 | 5499 | 54500 | SH |  | SOLE |  | 54500 | 0 | 0 |
| KIMCO RLTY CORP | COM | 49446R109 | BBG000CN3S73 | 1713 | 84500 | SH |  | SOLE |  | 84500 | 0 | 0 |
| KLARNA GROUP PLC | SHS | G5279N105 | BBG01MG54LV6 | 14883 | 514788 | SH |  | SOLE |  | 514788 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 | BBG000JWD753 | 3905 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 | BBG000FKJRC5 | 3927 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| LENNOX INTL INC | COM | 526107107 | BBG000BB5B84 | 2622 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LIBERTY FORMULA ONE SER C | 531229755 | BBG01HLMBCG3 | 2293 | 23279 | SH |  | SOLE |  | 23279 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 | BBG000BNBDC2 | 145404 | 135300 | SH |  | SOLE |  | 135300 | 0 | 0 |
| LINDE PLC NEW | SHS | G54950103 | BBG01FND0CC1 | 31340 | 73500 | SH |  | SOLE |  | 73500 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 | BBG000R8ZVD1 | 3533 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| MACERICH CO | COM | 554382101 | BBG000BL9C59 | 3757 | 203500 | SH |  | SOLE |  | 203500 | 0 | 0 |
| MANULIFE FINL CORP | COM | 56501R106 | BBG000C0QCK8 | 13316 | 365000 | SH |  | SOLE |  | 365000 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 | BBG000BGD7W6 | 11479 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 | BBG000BP4MH0 | 33690 | 181600 | SH |  | SOLE |  | 181600 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 | BBG000BGYMH7 | 3736 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 | BBG00ZXBJ153 | 14677 | 172706 | SH |  | SOLE |  | 172706 | 0 | 0 |
| MASTERCARD INC | CL A | 57636Q104 | BBG000F1ZSQ2 | 96664 | 169325 | SH |  | SOLE |  | 169325 | 0 | 0 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 | BBG000G6Y5W4 | 2793 | 41000 | SH |  | SOLE |  | 41000 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 | BBG000BNSZP1 | 42298 | 138397 | SH |  | SOLE |  | 138397 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG000DYGNW7 | 33163 | 40428 | SH |  | SOLE |  | 40428 | 0 | 0 |
| MEDICAL PPTYS TR INC | COM | 58463J304 | BBG000BGRB25 | 845 | 168900 | SH |  | SOLE |  | 168900 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG000BNWG87 | 5283 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 | BBG000GQPB11 | 15006 | 7450 | SH |  | SOLE |  | 7450 | 0 | 0 |
| MERCK  CO INC NEW | COM | 58933Y105 | BBG000BPD168 | 46472 | 441500 | SH |  | SOLE |  | 441500 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG000MM2P62 | 235873 | 357334 | SH |  | SOLE |  | 357334 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC | COM | 595017104 | BBG000BHCP19 | 6372 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG000BPH459 | 374327 | 774011 | SH |  | SOLE |  | 774011 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG000D4LWF6 | 11331 | 210500 | SH |  | SOLE |  | 210500 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 | BBG008NVB1C0 | 6320 | 82435 | SH |  | SOLE |  | 82435 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG000BLZRJ2 | 27337 | 153984 | SH |  | SOLE |  | 153984 | 0 | 0 |
| NETEASE INC | SPONSORED ADR | 64110W102 | BBG000BX72V8 | 3778 | 27452 | SH |  | SOLE |  | 27452 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 | BBG000CL9VN6 | 59380 | 633320 | SH |  | SOLE |  | 633320 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 | BBG000BPWXK1 | 14179 | 142000 | SH |  | SOLE |  | 142000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG000BJSBJ0 | 33947 | 422856 | SH |  | SOLE |  | 422856 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG000C5HS04 | 13165 | 206646 | SH |  | SOLE |  | 206646 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG000BQ5DS5 | 10033 | 34750 | SH |  | SOLE |  | 34750 | 0 | 0 |
| NVIDIA CORP | COM | 67066G104 | BBG000BBJQV0 | 390931 | 2096147 | SH |  | SOLE |  | 2096147 | 0 | 0 |
| OKTA INC | CL A | 679295105 | BBG001YV1SM4 | 3249 | 37575 | SH |  | SOLE |  | 37575 | 0 | 0 |
| OLD DOMINION FREIGHT LINE INC | COM | 679580100 | BBG000CHSS88 | 4986 | 31800 | SH |  | SOLE |  | 31800 | 0 | 0 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 | BBG000BGBTC2 | 1109 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 | BBG000BS9489 | 2515 | 31148 | SH |  | SOLE |  | 31148 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 | BBG000BQHGR6 | 7350 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 | BBG000BQLTW7 | 70672 | 362587 | SH |  | SOLE |  | 362587 | 0 | 0 |
| PACCAR INC | COM | 693718108 | BBG000BQVTF5 | 9637 | 88000 | SH |  | SOLE |  | 88000 | 0 | 0 |
| PACKAGING CORP AMER | COM | 695156109 | BBG000BB8SW7 | 2475 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG000N7QR55 | 70316 | 395591 | SH |  | SOLE |  | 395591 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 | BBG0014GJCT9 | 24369 | 132298 | SH |  | SOLE |  | 132298 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 | BBG000BR3KL6 | 17579 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 | BBG000BQSQ38 | 6114 | 54500 | SH |  | SOLE |  | 54500 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 | BBG0064N0ZZ5 | 1386 | 8700 | SH |  | SOLE |  | 8700 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXV6 | 6029 | 103270 | SH |  | SOLE |  | 103270 | 0 | 0 |
| PEPSICO INC | COM | 713448108 | BBG000DH7JK6 | 32651 | 227500 | SH |  | SOLE |  | 227500 | 0 | 0 |
| PFIZER INC | COM | 717081103 | BBG000BR2B91 | 23082 | 927000 | SH |  | SOLE |  | 927000 | 0 | 0 |
| PG CORP | COM | 69331C108 | BBG000BQWPC5 | 5464 | 340000 | SH |  | SOLE |  | 340000 | 0 | 0 |
| PIEDMONT RLTY TR INC | COM CL A | 720190206 | BBG000JVJ8N7 | 717 | 86000 | SH |  | SOLE |  | 86000 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 | BBG002583CV8 | 16584 | 640569 | SH |  | SOLE |  | 640569 | 0 | 0 |
| POLARIS INC | COM | 731068102 | BBG000D5S4M0 | 728 | 11506 | SH |  | SOLE |  | 11506 | 0 | 0 |
| PPG INDS INC | COM | 693506107 | BBG000BRJ809 | 3740 | 36500 | SH |  | SOLE |  | 36500 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG000BR2TH3 | 59760 | 417000 | SH |  | SOLE |  | 417000 | 0 | 0 |
| PROGRESSIVE CORP OH | COM | 743315103 | BBG000BR37X2 | 42104 | 184895 | SH |  | SOLE |  | 184895 | 0 | 0 |
| PROLOGIS INC | COM | 74340W103 | BBG000B9Z0J8 | 9192 | 72000 | SH |  | SOLE |  | 72000 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 | BBG000HCJMF9 | 6073 | 53798 | SH |  | SOLE |  | 53798 | 0 | 0 |
| PTC INC | COM | 69370C100 | BBG000C2VBB0 | 4626 | 26555 | SH |  | SOLE |  | 26555 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 | BBG000CGC1X8 | 36899 | 215718 | SH |  | SOLE |  | 215718 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 | BBG000BBL8V7 | 10467 | 24800 | SH |  | SOLE |  | 24800 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 | BBG000DHPN63 | 3044 | 54000 | SH |  | SOLE |  | 54000 | 0 | 0 |
| REGENERON PHARMACEUTICALS INC | COM | 75886F107 | BBG000C734W3 | 11501 | 14900 | SH |  | SOLE |  | 14900 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 | BBG000BPXVJ6 | 7841 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 | BBG004MB82R0 | 1316 | 34000 | SH |  | SOLE |  | 34000 | 0 | 0 |
| ROBERT HALF INC | COM | 770323103 | BBG000BS5DR2 | 528 | 19432 | SH |  | SOLE |  | 19432 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 | BBG008NMBXN8 | 13572 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 | BBG01V7JN3F3 | 5232 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 | BBG000BSBZH7 | 2602 | 14446 | SH |  | SOLE |  | 14446 | 0 | 0 |
| ROYAL BK CDA MONTREAL QUE | COM | 780087102 | BBG000BCJG31 | 4297 | 25143 | SH |  | SOLE |  | 25143 | 0 | 0 |
| ROYAL CARIBBEAN CRUISES LTD | ROYAL CARIBBEAN CRUISES LTD REGISTERED SHARES DL 01 | V7780T103 | BBG000BB5792 | 11715 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | COM | 78573L106 | BBG000MTDW24 | 1326 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 | BBG000BN2DC2 | 69809 | 263519 | SH |  | SOLE |  | 263519 | 0 | 0 |
| SAMSARA INC | CL A | 79589L106 | BBG0099PW5P1 | 2628 | 74120 | SH |  | SOLE |  | 74120 | 0 | 0 |
| SCHWAB CHARLES CORP NEW | COM | 808513105 | BBG000BSLZY7 | 33817 | 338471 | SH |  | SOLE |  | 338471 | 0 | 0 |
| SEMPRA | COM | 816851109 | BBG000C2ZCH8 | 9226 | 104500 | SH |  | SOLE |  | 104500 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 | BBG000M1R011 | 37715 | 246195 | SH |  | SOLE |  | 246195 | 0 | 0 |
| SHERWIN-WILLIAMS CO | COM | 824348106 | BBG000BSXQV7 | 10045 | 31000 | SH |  | SOLE |  | 31000 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG000BJ2D31 | 5572 | 30100 | SH |  | SOLE |  | 30100 | 0 | 0 |
| SL GREEN RLTY CORP | COM PAR$ | 78440X887 | BBG000BVP5P2 | 505 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| SLB LTD | COM | 806857108 | BBG000BT41Q8 | 9986 | 260185 | SH |  | SOLE |  | 260185 | 0 | 0 |
| SMURFIT WESTROCK PLC | SHS | G8267P108 | BBG01NK9ZXT4 | 6187 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| SNAP INC | CL A | 83304A106 | BBG00441QMJ7 | 501 | 62124 | SH |  | SOLE |  | 62124 | 0 | 0 |
| SNOWFLAKE INC | COM | 833445109 | BBG007DHGNJ4 | 13668 | 62308 | SH |  | SOLE |  | 62308 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 | BBG000BP1Q11 | 14143 | 27064 | SH |  | SOLE |  | 27064 | 0 | 0 |
| SPDR SER TR | STATE STR SPDR S BIOTECH ETF | 78464A870 | BBG000MQQ963 | 11014 | 90329 | SH |  | SOLE |  | 90329 | 0 | 0 |
| SPDR SER TR | PORTFOLIO HIGH YIELD BD ETF | 78468R606 | BBG0034VNB73 | 545594 | 23050000 | SH |  | SOLE |  | 23050000 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 | BBG000CTQBF3 | 18655 | 221533 | SH |  | SOLE |  | 221533 | 0 | 0 |
| STATE STR CORP | COM | 857477103 | BBG000BKFBD7 | 14681 | 113800 | SH |  | SOLE |  | 113800 | 0 | 0 |
| STRYKER CORP | COMMON | 863667101 | BBG000DN7P92 | 3866 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| SUN CMNTYS INC | COM | 866674104 | BBG000BLJWF3 | 1549 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 | BBG000BSFRF3 | 19638 | 41807 | SH |  | SOLE |  | 41807 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG CO LTD | SPONSORED ADR | 874039100 | BBG000BD8ZK0 | 9162 | 30150 | SH |  | SOLE |  | 30150 | 0 | 0 |
| TARGET CORP | COM | 87612E106 | BBG000H8TVT2 | 7087 | 72500 | SH |  | SOLE |  | 72500 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 | BBG00DL8NMV2 | 2096 | 47040 | SH |  | SOLE |  | 47040 | 0 | 0 |
| TESLA INC | COM | 88160R101 | BBG000N9MNX3 | 206646 | 459500 | SH |  | SOLE |  | 459500 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 | BBG000BVV7G1 | 2825 | 16285 | SH |  | SOLE |  | 16285 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | BBG000BVDLH9 | 38997 | 67300 | SH |  | SOLE |  | 67300 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 | BBG000NDV1D4 | 25676 | 126460 | SH |  | SOLE |  | 126460 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 | BBG000BCRMB0 | 3248 | 34383 | SH |  | SOLE |  | 34383 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 | BBG000BLXZN1 | 3127 | 62525 | SH |  | SOLE |  | 62525 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 | BBG000BM6788 | 14595 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 | BBG000L8CBX4 | 5319 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| TRANSUNION | COM | 89400J107 | BBG002Q7J5Z1 | 2787 | 32500 | SH |  | SOLE |  | 32500 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 | BBG000BNPS52 | 4288 | 54723 | SH |  | SOLE |  | 54723 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 | BBG0029ZX840 | 4485 | 31533 | SH |  | SOLE |  | 31533 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MT8 | 24762 | 303044 | SH |  | SOLE |  | 303044 | 0 | 0 |
| UDR INC | COM | 902653104 | BBG000C41023 | 2472 | 67400 | SH |  | SOLE |  | 67400 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 | BBG00FWQ4VD6 | 4538 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 | BBG000BW3299 | 22322 | 96500 | SH |  | SOLE |  | 96500 | 0 | 0 |
| UNITED PARCEL SVC INC | CL B | 911312106 | BBG000L9CV04 | 12200 | 123000 | SH |  | SOLE |  | 123000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG000CH5208 | 51926 | 157300 | SH |  | SOLE |  | 157300 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 | BBG000FFDM15 | 6030 | 113000 | SH |  | SOLE |  | 113000 | 0 | 0 |
| VALERO ENERGY CORP NEW | COM | 91913Y100 | BBG000BBGGQ1 | 3957 | 24308 | SH |  | SOLE |  | 24308 | 0 | 0 |
| WALMART INC | COM | 931142103 | BBG000BWXBC2 | 81218 | 729000 | SH |  | SOLE |  | 729000 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS NEW | 922908363 | BBG0015VYNT4 | 5075 | 8092 | SH |  | SOLE |  | 8092 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 | BBG000FLHZZ2 | 7628 | 43500 | SH |  | SOLE |  | 43500 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 | BBG000BWVSR1 | 14721 | 67000 | SH |  | SOLE |  | 67000 | 0 | 0 |
| WATERS CORP | COM | 941848103 | BBG000FQRVM3 | 3039 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 | BBG001CGB489 | 5134 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| WELLS FARGO  CO NEW | COM | 949746101 | BBG000BWQFY7 | 36954 | 396500 | SH |  | SOLE |  | 396500 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 | BBG000BKY1G5 | 4733 | 25500 | SH |  | SOLE |  | 25500 | 0 | 0 |
| VENTAS INC | COM | 92276F100 | BBG000FRVHB9 | 2089 | 27000 | SH |  | SOLE |  | 27000 | 0 | 0 |
| VERALTO CORP | COM | 92338C103 | BBG019Q32XJ9 | 4141 | 41500 | SH |  | SOLE |  | 41500 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 | BBG000BCZL41 | 5257 | 23500 | SH |  | SOLE |  | 23500 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG000HS77T5 | 22393 | 549790 | SH |  | SOLE |  | 549790 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 | BBG000C1S2X2 | 17590 | 38800 | SH |  | SOLE |  | 38800 | 0 | 0 |
| VERTIV HLDGS CO | CL A | 92537N108 | BBG00L2B8KW8 | 9397 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| WEST PHARMACEUTICAL SVCS INC | COM | 955306105 | BBG000BX24N8 | 3027 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 | BBG000FSMWC3 | 3572 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG000PSKYX7 | 117930 | 336260 | SH |  | SOLE |  | 336260 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 | BBG000VC0T95 | 19196 | 89373 | SH |  | SOLE |  | 89373 | 0 | 0 |
| VORNADO RLTY TR | COM | 929042109 | BBG000BWHD54 | 1065 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 | BBG000BWGYF8 | 5590 | 19600 | SH |  | SOLE |  | 19600 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG000BCTQ65 | 6869 | 93000 | SH |  | SOLE |  | 93000 | 0 | 0 |
| XYLEM INC | COM | 98419M100 | BBG001D8R5D0 | 5549 | 40750 | SH |  | SOLE |  | 40750 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 | BBG000BH3GZ2 | 6808 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| ZOETIS INC | COM | 98978V103 | BBG0039320N9 | 10443 | 83000 | SH |  | SOLE |  | 83000 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 | BBG003338H34 | 4872 | 21660 | SH |  | SOLE |  | 21660 | 0 | 0 |
| 3M CO | COM | 88579Y101 | BBG000BP52R2 | 15099 | 94309 | SH |  | SOLE |  | 94309 | 0 | 0 |

---