# EDGAR Filing Document

**Accession Number:** 0001698484
**File Stem:** 0001140361-23-006275
**Filing Date:** 2023-2
**Character Count:** 26079
**Document Hash:** d614cf9170c04c881cbb2f531d0e3b55
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-006275.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001140361-23-006275

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Varma Mutual Pension Insurance Co
- **CENTRAL INDEX KEY:** 0001698484
- **IRS NUMBER:** 980423959
- **STATE OF INCORPORATION:** H9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18702
- **FILM NUMBER:** 23616910

**BUSINESS ADDRESS:**
- **STREET 1:** SALMISAARENRANTA 11
- **CITY:** HELSINKI
- **STATE:** H9
- **ZIP:** 00180
- **BUSINESS PHONE:** 358-50-910-1690

**MAIL ADDRESS:**
- **STREET 1:** SALMISAARENRANTA 11
- **STREET 2:** P.O. BOX 4, FI-00098
- **CITY:** VARMA
- **STATE:** H9
- **ZIP:** 00180

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Varma Mutual Pension Insurance Co<br>**Address:** SALMISAARENRANTA 11<br>P.O. BOX 4 FI-00098<br>Varma, H9 00180

**Form 13F File Number:** 028-18702

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:** Kaj Blomster<br>**Title:** Chief Risk Officer<br>**Phone:** 358102440

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

/s/ Kaj Blomster  Helsinki, H9  02-13-2023<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:** 230

**Form 13F Information Table Value Total:** $7104988625

      (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 |
| 3M CO | COM | 88579Y101 |  | 6606392 | 55090 | SH |  | SOLE |  | 55090 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 19762200 | 180000 | SH |  | SOLE |  | 180000 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 49891269 | 308714 | SH |  | SOLE |  | 308714 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 20831931 | 78069 | SH |  | SOLE |  | 78069 | 0 | 0 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 43100070 | 128072 | SH |  | SOLE |  | 128072 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 57828987 | 892836 | SH |  | SOLE |  | 892836 | 0 | 0 |
| AERCAP HOLDINGS NV | SHS | N00985106 |  | 5022810 | 86125 | SH |  | SOLE |  | 86125 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 17958000 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| ALGONQUIN PWR UTILS CORP | COM | 015857105 |  | 3330607 | 511656 | SH |  | SOLE |  | 511656 | 0 | 0 |
| ALPHABET INC CAP STK | CL A | 02079K305 |  | 138176826 | 1566098 | SH |  | SOLE |  | 1566098 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 58849476 | 700589 | SH |  | SOLE |  | 700589 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 3657846 | 24757 | SH |  | SOLE |  | 24757 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 4558085 | 32623 | SH |  | SOLE |  | 32623 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 11818800 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 3045600 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 10145747 | 61853 | SH |  | SOLE |  | 61853 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 210380836 | 1619186 | SH |  | SOLE |  | 1619186 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 14607000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| APTIV PLC | SHS | G6095L109 |  | 2980160 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 4642500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 62027759 | 331930 | SH |  | SOLE |  | 331930 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 5971500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 4315815 | 1750 | SH |  | SOLE |  | 1750 | 0 | 0 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 3924153 | 132887 | SH |  | SOLE |  | 132887 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 3701855 | 111771 | SH |  | SOLE |  | 111771 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 7629000 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| BIO RAD LABS INC | CL A | 090572207 |  | 6727840 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 14488600 | 140000 | SH |  | SOLE |  | 140000 | 0 | 0 |
| BLACKROCK ETF TRUST | US CARBON TRANS | 09290C509 |  | 204209880 | 4814000 | SH |  | SOLE |  | 4814000 | 0 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 4136273 | 5837 | SH |  | SOLE |  | 5837 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 8884200 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 24523100 | 530000 | SH |  | SOLE |  | 530000 | 0 | 0 |
| BOX INC | CL A | 10316T104 |  | 39249233 | 1260817 | SH |  | SOLE |  | 1260817 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 24975859 | 347128 | SH |  | SOLE |  | 347128 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 32207565 | 57603 | SH |  | SOLE |  | 57603 | 0 | 0 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 3612400 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 3212800 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 3640687 | 32541 | SH |  | SOLE |  | 32541 | 0 | 0 |
| CANADIAN IMPERIAL BK COMM TO | COM | 136069101 |  | 3534068 | 87429 | SH |  | SOLE |  | 87429 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 14932500 | 362000 | SH |  | SOLE |  | 362000 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 38103455 | 159056 | SH |  | SOLE |  | 159056 | 0 | 0 |
| CIGNA CORP NEW | COM | 125523100 |  | 26507200 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 12645360 | 28000 | SH |  | SOLE |  | 28000 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 47286701 | 992584 | SH |  | SOLE |  | 992584 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 26624537 | 418559 | SH |  | SOLE |  | 418559 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNE | SHS | G25839104 |  | 5769710 | 104297 | SH |  | SOLE |  | 104297 | 0 | 0 |
| COGNEX CORP | COM | 192422103 |  | 30888048 | 655658 | SH |  | SOLE |  | 655658 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 5515300 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 3747874 | 107174 | SH |  | SOLE |  | 107174 | 0 | 0 |
| CONCENTRIX CORP | COM | 20602D101 |  | 14913920 | 112000 | SH |  | SOLE |  | 112000 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 3476250 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 14528902 | 238609 | SH |  | SOLE |  | 238609 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 12507845 | 161851 | SH |  | SOLE |  | 161851 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 3751517 | 8218 | SH |  | SOLE |  | 8218 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 23544800 | 760000 | SH |  | SOLE |  | 760000 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 5591400 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 3119900 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 34717732 | 130803 | SH |  | SOLE |  | 130803 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 31347750 | 426500 | SH |  | SOLE |  | 426500 | 0 | 0 |
| DBX ETF TR | XTKR EMGRIN MKTS | 233051192 |  | 455604961 | 17824990 | SH |  | SOLE |  | 17824990 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 199996364 | 7137629 | SH |  | SOLE |  | 7137629 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 42876000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 10871040 | 96000 | SH |  | SOLE |  | 96000 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 3426460 | 39439 | SH |  | SOLE |  | 39439 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 26044074 | 469940 | SH |  | SOLE |  | 469940 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 14282500 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 3536000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| DOVER CORP | COM | 260003108 |  | 6770500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 27871134 | 1245359 | SH |  | SOLE |  | 1245359 | 0 | 0 |
| DYNATRACE INC | COM NEW | 268150109 |  | 29023165 | 757785 | SH |  | SOLE |  | 757785 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 15695000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 3639000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 17953950 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 22152972 | 230616 | SH |  | SOLE |  | 230616 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 12983040 | 49000 | SH |  | SOLE |  | 49000 | 0 | 0 |
| EQUIFAX INC | COM | 294429105 |  | 9718000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 7274400 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 17196085 | 119825 | SH |  | SOLE |  | 119825 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 28866520 | 48225 | SH |  | SOLE |  | 48225 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 11165295 | 235953 | SH |  | SOLE |  | 235953 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 18532400 | 107000 | SH |  | SOLE |  | 107000 | 0 | 0 |
| FERGUSON PLC | NEW SHS | G3421J106 |  | 6454646 | 50836 | SH |  | SOLE |  | 50836 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 2714000 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 2526750 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| FORD MTR CO DEL | COM | 345370860 |  | 4070500 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 14618110 | 299000 | SH |  | SOLE |  | 299000 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS I | COM | 34964C106 |  | 6853200 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| GARTNER INC | COM | 366651107 |  | 41963381 | 124839 | SH |  | SOLE |  | 124839 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 4611750 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 4205000 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 29218239 | 630791 | SH |  | SOLE |  | 630791 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 2776160 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 10302000 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| GODADDY INC | CL A | 380237107 |  | 19493378 | 260537 | SH |  | SOLE |  | 260537 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 4673058 | 13609 | SH |  | SOLE |  | 13609 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 3473550 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 41840394 | 132465 | SH |  | SOLE |  | 132465 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 10243800 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 6787311 | 38927 | SH |  | SOLE |  | 38927 | 0 | 0 |
| IDEX CORP | COM | 45167R104 |  | 6880724 | 30135 | SH |  | SOLE |  | 30135 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 4079600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 6609000 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 6607500 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 9157850 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 19222408 | 49387 | SH |  | SOLE |  | 49387 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 22354941 | 84247 | SH |  | SOLE |  | 84247 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 21913778 | 82296 | SH |  | SOLE |  | 82296 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 7171150 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 513230291 | 10989942 | SH |  | SOLE |  | 10989942 | 0 | 0 |
| ISHARES INC | MSCI HONG KG ETF | 464286871 |  | 36430919 | 1733980 | SH |  | SOLE |  | 1733980 | 0 | 0 |
| ISHARES INC | MSCI CDA ETF | 464286509 |  | 21152286 | 646266 | SH |  | SOLE |  | 646266 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 7181545 | 49504 | SH |  | SOLE |  | 49504 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 324357826 | 8558254 | SH |  | SOLE |  | 8558254 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 51541000 | 700000 | SH |  | SOLE |  | 700000 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 93556540 | 1106000 | SH |  | SOLE |  | 1106000 | 0 | 0 |
| JABIL INC | COM | 466313103 |  | 24877109 | 364767 | SH |  | SOLE |  | 364767 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 |  | 11151700 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 48330556 | 273595 | SH |  | SOLE |  | 273595 | 0 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 14080000 | 220000 | SH |  | SOLE |  | 220000 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 4844362 | 36125 | SH |  | SOLE |  | 36125 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 2674500 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES INC | COM | 49338L103 |  | 47147576 | 275604 | SH |  | SOLE |  | 275604 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 4072500 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 60077845 | 159345 | SH |  | SOLE |  | 159345 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 3053250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| KRANESHARES TR | CSI CHI INTERNET | 500767306 |  | 10721000 | 355000 | SH |  | SOLE |  | 355000 | 0 | 0 |
| LAM RESEARCH CORP | COM | 512807108 |  | 7731418 | 18395 | SH |  | SOLE |  | 18395 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 4962200 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 50878466 | 139073 | SH |  | SOLE |  | 139073 | 0 | 0 |
| LINDE PLC | SHS | G5494J103 |  | 4455944 | 13661 | SH |  | SOLE |  | 13661 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 21209098 | 106450 | SH |  | SOLE |  | 106450 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 4164940 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 3856399 | 25901 | SH |  | SOLE |  | 25901 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 25778876 | 695974 | SH |  | SOLE |  | 695974 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 39006265 | 112174 | SH |  | SOLE |  | 112174 | 0 | 0 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 2652480 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 4510579 | 17116 | SH |  | SOLE |  | 17116 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 18756000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 11658000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 54690139 | 492926 | SH |  | SOLE |  | 492926 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 55383356 | 460224 | SH |  | SOLE |  | 460224 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 2458750 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 40733700 | 815000 | SH |  | SOLE |  | 815000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 246834255 | 1029248 | SH |  | SOLE |  | 1029248 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 4150187 | 26436 | SH |  | SOLE |  | 26436 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 12573400 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 8664500 | 130000 | SH |  | SOLE |  | 130000 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 3553550 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 4401825 | 51774 | SH |  | SOLE |  | 51774 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 23503152 | 91200 | SH |  | SOLE |  | 91200 | 0 | 0 |
| NATIONAL INSTRS CORP | COM | 636518102 |  | 30221616 | 819014 | SH |  | SOLE |  | 819014 | 0 | 0 |
| NETAPP INC | COM | 64110D104 |  | 35205069 | 586165 | SH |  | SOLE |  | 586165 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 142211187 | 482268 | SH |  | SOLE |  | 482268 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 8778000 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 19994785 | 170881 | SH |  | SOLE |  | 170881 | 0 | 0 |
| NORDSON CORP | COM | 655663102 |  | 10637256 | 44747 | SH |  | SOLE |  | 44747 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 16017300 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 3613593 | 49532 | SH |  | SOLE |  | 49532 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 97663169 | 668285 | SH |  | SOLE |  | 668285 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 2844540 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| OKTA INC | CL A | 679295105 |  | 20192949 | 295521 | SH |  | SOLE |  | 295521 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 8991400 | 110000 | SH |  | SOLE |  | 110000 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 5064180 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 37477234 | 268577 | SH |  | SOLE |  | 268577 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 10039500 | 34500 | SH |  | SOLE |  | 34500 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 5987741 | 51815 | SH |  | SOLE |  | 51815 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 30581050 | 98550 | SH |  | SOLE |  | 98550 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 52657005 | 739357 | SH |  | SOLE |  | 739357 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 26189738 | 144967 | SH |  | SOLE |  | 144967 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 18164067 | 354490 | SH |  | SOLE |  | 354490 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 38739856 | 1595546 | SH |  | SOLE |  | 1595546 | 0 | 0 |
| PLUG POWER INC | COM NEW | 72919P202 |  | 4948000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 35177833 | 232105 | SH |  | SOLE |  | 232105 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 3917828 | 39391 | SH |  | SOLE |  | 39391 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 41653187 | 378872 | SH |  | SOLE |  | 378872 | 0 | 0 |
| RAPID7 INC | COM | 753422104 |  | 9589461 | 282209 | SH |  | SOLE |  | 282209 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 10822350 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 4254219 | 32981 | SH |  | SOLE |  | 32981 | 0 | 0 |
| ROBERT HALF INTL INC | COM | 770323103 |  | 7005950 | 94893 | SH |  | SOLE |  | 94893 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 3240675 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 4642800 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| ROYAL BK CDA SUSTAINABL | COM | 780087102 |  | 4125799 | 43914 | SH |  | SOLE |  | 43914 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 3912434 | 11681 | SH |  | SOLE |  | 11681 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 42328959 | 319247 | SH |  | SOLE |  | 319247 | 0 | 0 |
| SEAGEN INC | COM | 81181C104 |  | 8995700 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 15736908 | 211092 | SH |  | SOLE |  | 211092 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 3354000 | 24689 | SH |  | SOLE |  | 24689 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 5435780 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| SHOALS TECHNOLOGIES GROUP IN | CL A | 82489W107 |  | 4934000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 13058929 | 143300 | SH |  | SOLE |  | 143300 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 |  | 5151600 | 90000 | SH |  | SOLE |  | 90000 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 25620270 | 2862600 | SH |  | SOLE |  | 2862600 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 30842726 | 214872 | SH |  | SOLE |  | 214872 | 0 | 0 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 |  | 21245250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| SPDR INDEX SHS FDS | S CHINA ETF | 78463X400 |  | 54146760 | 691000 | SH |  | SOLE |  | 691000 | 0 | 0 |
| SPLUNK INC | COM | 848637104 |  | 35332369 | 410412 | SH |  | SOLE |  | 410412 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 7936000 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 7334700 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 34799736 | 108991 | SH |  | SOLE |  | 108991 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 25384915 | 243781 | SH |  | SOLE |  | 243781 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 5961600 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| TE CONNECTIVITY LTD | SHS | H84989104 |  | 11504108 | 100210 | SH |  | SOLE |  | 100210 | 0 | 0 |
| TENABLE HLDGS INC | COM | 88025T102 |  | 7474538 | 195925 | SH |  | SOLE |  | 195925 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 65016990 | 527821 | SH |  | SOLE |  | 527821 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 14751172 | 89282 | SH |  | SOLE |  | 89282 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 51546786 | 93604 | SH |  | SOLE |  | 93604 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 15551292 | 195368 | SH |  | SOLE |  | 195368 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 3770402 | 58272 | SH |  | SOLE |  | 58272 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 4499400 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 36715104 | 726169 | SH |  | SOLE |  | 726169 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 3752560 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 24848400 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 37723280 | 217000 | SH |  | SOLE |  | 217000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 77948123 | 147022 | SH |  | SOLE |  | 147022 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 34660745 | 98653 | SH |  | SOLE |  | 98653 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 100002700 | 1330000 | SH |  | SOLE |  | 1330000 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 120140500 | 1550000 | SH |  | SOLE |  | 1550000 | 0 | 0 |
| VANGUARD WHITEHALL FDS | EM MK GOV BD ETF | 921946885 |  | 79274000 | 1300000 | SH |  | SOLE |  | 1300000 | 0 | 0 |
| VANGUARD WORLD FDS | INF TECH ETF | 92204A702 |  | 376400409 | 1178424 | SH |  | SOLE |  | 1178424 | 0 | 0 |
| VEEVA SYS INC CL A | COM | 922475108 |  | 4034500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 9662170 | 54768 | SH |  | SOLE |  | 54768 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 17326800 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| VISA INC COM | CL A | 92826C839 |  | 37324499 | 179652 | SH |  | SOLE |  | 179652 | 0 | 0 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 6149000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 6698787 | 50534 | SH |  | SOLE |  | 50534 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 34863038 | 208349 | SH |  | SOLE |  | 208349 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 7187050 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 22307670 | 87000 | SH |  | SOLE |  | 87000 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 21249750 | 145000 | SH |  | SOLE |  | 145000 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 21405127 | 191288 | SH |  | SOLE |  | 191288 | 0 | 0 |

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