B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund

Pension

CIK

1536262

Location

LONDON, X0

Portfolio Value

Small $360,369,619

Diversification

Diversified

Filing Date

Global Rank

#2,391 / 5,929 ▼ 20 · as of Sep 2021

Top Industry

Utilities - Regulated Electric 47.2%

3Y Alpha vs SPY

-5.3%

Period ended 4 years ago

Filed Nov 29, 2021 · 4y

7 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+49.9%

SPY

+69.4%

Annualised alpha

-4.8%

Max drawdown

−15.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

21 positions · as of Sep 30, 2021 · Δ vs Jun 30, 2021

Top Position

12.7%

−1.2 pts

Top 5

42.7%

−0.1 pts

Top 10

69.5%

+0.4 pts

HHI

643

Diversified−11

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2021

Sector	% Portfolio	Value	Positions
Utilities	52.9%	$190,722,912	12
Energy	16.4%	$59,208,107	4
Industrials	15.6%	$56,296,989	2
Real Estate	13.3%	$48,087,420	2
Communication Services	1.7%	$6,054,191	1

Last Quarter's Activity

Export CSV

Sep 30, 2021 vs Jun 30, 2021

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
DUK	Duke Energy CORP	−45,000	45,902	$4,479,576
UNP	Union Pacific Corp	−3,000	234,113	$45,888,489
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

21 positions · $360,369,619 total · as of Sep 30, 2021

All sectors Communication Services Energy Industrials Real Estate Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
UNP	Union Pacific Corp Industrials	Reduced	234,113	-3,000	$45,888,489	−12.0%	12.73%
AMT	American Tower Corp /Ma/ Real Estate	Held	142,000	0	$37,688,220	−1.8%	10.46%
NEE	Nextera Energy Inc Utilities	Held	332,000	0	$26,068,640	+7.2%	7.23%
XEL	Xcel Energy Inc Utilities	Held	366,927	0	$22,932,937	−5.1%	6.36%
LNT	Alliant Energy Corp Utilities	Held	378,904	0	$21,211,045	+0.4%	5.89%
WEC	Wec Energy Group, Inc. Utilities	Held	235,000	0	$20,727,000	−0.8%	5.75%
NI	Nisource Inc. Utilities	Held	851,995	0	$20,643,838	−1.1%	5.73%
ENB	Enbridge Inc Energy	Held	495,000	0	$19,701,000	−0.6%	5.47%
AEP	American Electric Power Co Inc Utilities	Held	224,000	0	$18,184,320	−4.0%	5.05%
TRP	Tc Energy Corp Energy	Held	362,200	0	$17,418,198	−2.9%	4.83%
EVRG	Evergy, Inc. Utilities	Held	275,000	0	$17,105,000	+2.9%	4.75%
EIX	Edison International Utilities	Held	284,000	0	$15,753,480	−4.1%	4.37%
WMB	Williams Companies, Inc. Energy	Held	546,000	0	$14,163,240	−2.3%	3.93%
PNW	Pinnacle West Capital Corp Utilities	Held	150,000	0	$10,854,000	−11.7%	3.01%
CNI	Canadian National Railway Co Industrials	Held	90,000	0	$10,408,500	+9.6%	2.89%
CCI	Crown Castle Inc. Real Estate	Held	60,000	0	$10,399,200	−11.2%	2.89%
PPL	PPL Corp Utilities	Held	310,000	0	$8,642,800	−0.3%	2.40%
PBA	Pembina Pipeline Corp Energy	Held	250,100	0	$7,925,669	−0.3%	2.20%
TLK	Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk Communication Services	Held	238,354	0	$6,054,191	+17.2%	1.68%
DUK	Duke Energy CORP Utilities	Reduced	45,902	-45,000	$4,479,576	−50.1%	1.24%
EXC	Exelon Corp Utilities	Held	119,500	0	$4,120,276	+9.1%	1.14%