SIEMENS PENSION TRUST E V

Key Holdings

The portfolio is entirely composed of Fluence Energy Inc. (FLNC), a technology company operating in the energy storage and services sector. The trust holds 11.76 million shares, valued at $127.02 million, which accounts for 100.00% of the total assets. As the sole position, Fluence Energy is the critical driver of the portfolio's performance. The 61% increase in total portfolio value over the quarter correlates directly with the price movement of Fluence Energy stock during this period. The size of the stake—11.76 million shares—indicates that Siemens Pension Trust is a significant shareholder in Fluence Energy, likely holding a substantial percentage of the company's outstanding float.