SIEMENS AG Portfolio Holdings

Q3 2025•1 long positions•$429.2M portfolio value

Holding1	Sector	Position↕	Traded↕	Ownership↕	Shares Δ↕	Shares Δ %	Market Cap↕	Owned Since↕
1 Fluence Energy, Inc. FLNC	Renewable Utilities Utilities	$429.2M 100.0%	—	30.33% 39.7M shares	—	—	$1.4B Small Cap	Q3 2022 Held for 3y 2m

Holding1	Sector	Position↕	Traded↕	Ownership↕	Shares Δ↕	Shares Δ %	Market Cap↕	Owned Since↕
1 Fluence Energy, Inc. FLNC	Renewable Utilities Utilities	$429.2M 100.0%	—	30.33% 39.7M shares	—	—	$1.4B Small Cap	Q3 2022 Held for 3y 2m

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