Railway Pension Investments Ltd

Pension

CIK

1658020

Location

LONDON, X0

Portfolio Value

Mid $7,025,105,146

Diversification

Diversified

Filing Date

Global Rank

#525 / 8,588 ▼ 53

Top Industry

Semiconductors 11.5%

3Y Alpha vs SPY

-7.7%

Period ended 3 months ago

Filed May 12, 2026 · 36d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+46.4%

SPY

+76.8%

Annualised alpha

-7.4%

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

103 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.3%

−1.0 pts

Top 5

19.4%

−1.1 pts

Top 10

34.9%

+1.4 pts

HHI

230

Diversified+6

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	37.0%	$2,601,007,045	35
Healthcare	18.6%	$1,306,613,248	17
Consumer Cyclical	9.6%	$676,114,378	14
Communication Services	7.9%	$552,571,962	5
Utilities	7.6%	$532,415,090	3
Industrials	5.5%	$384,246,117	13
Financial Services	5.0%	$352,315,908	7
Energy	3.5%	$242,643,176	1
Real Estate	2.9%	$202,389,172	1
Consumer Defensive	2.2%	$154,001,666	6
Basic Materials	0.3%	$20,787,384	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
SYK	Stryker Corp	+451,160	489,760	$160,930,238
GDDY	GoDaddy Inc.	+219,600	263,700	$21,800,079
CEG	Constellation Energy Corp	+86,020	632,760	$176,698,230
AMZN	Amazon Com Inc	+76,800	1,121,800	$233,637,286
ADBE	Adobe Inc.	+73,000	88,400	$21,488,272
ROST	Ross Stores, Inc.	+64,600	82,900	$17,958,627
META	Meta Platforms, Inc.	+57,620	399,440	$228,531,607
INTU	Intuit Inc.	+23,040	51,240	$22,155,151
EME	EMCOR Group, Inc.	+1,840	25,401	$18,753,812
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PEG	Public Service Enterprise Group Inc	−502,900	1,722,350	$139,424,232
HPQ	Hp Inc	−327,400	1,432,115	$27,510,929
GOOGL	Alphabet Inc.	−278,230	920,190	$264,609,836
FAST	Fastenal Co	−197,960	1,686,750	$78,265,200
NEE	Nextera Energy Inc	−189,000	2,328,732	$216,292,628
MO	Altria Group, Inc.	−174,400	1,292,400	$85,285,476
CSCO	Cisco Systems, Inc.	−150,600	1,138,076	$88,303,316
BMY	Bristol Myers Squibb Co	−143,700	1,040,700	$63,118,455
NOW	ServiceNow, Inc.	−140,720	892,280	$93,287,874
NVDA	Nvidia Corp	−119,700	1,407,700	$245,502,880
MSFT	Microsoft Corp	−108,240	1,013,270	$375,082,155
CTSH	Cognizant Technology Solutions Corp	−107,400	434,580	$26,661,483
QCOM	Qualcomm Inc/De	−104,500	942,600	$121,388,028
ORLY	O Reilly Automotive Inc	−103,600	1,156,151	$106,724,298
VZ	Verizon Communications Inc	−102,000	705,000	$35,391,000
GILD	Gilead Sciences, Inc.	−95,900	1,303,365	$181,649,980
ROL	Rollins Inc	−92,200	635,417	$33,937,621
APH	Amphenol Corp /De/	−88,500	847,200	$107,043,720
CMCSA	Comcast Corp	−87,600	704,900	$20,237,679
NTAP	NetApp, Inc.	−74,300	515,150	$52,746,208
JNJ	Johnson & Johnson	−73,400	650,036	$158,894,799
AAPL	Apple Inc.	−71,600	681,852	$173,047,219
IDXX	Idexx Laboratories Inc /De	−69,600	256,480	$144,113,547
EXPE	Expedia Group, Inc.	−65,200	265,700	$61,347,473
V	Visa Inc.	−64,760	560,679	$169,459,620
No positions match the current search.

New Positions

Positions the filer opened this quarter

11 positions

Ticker	Company	Shares	Value
MAR	Marriott International Inc /Md/	106,600	$34,865,662
FTV	Fortive Corp	388,700	$21,487,336
ADI	Analog Devices Inc	62,200	$19,788,308
CAH	Cardinal Health Inc	86,100	$18,193,791
CBOE	Cboe Global Markets, Inc.	37,800	$10,624,446
DGX	Quest Diagnostics Inc	34,500	$6,761,310
DOCU	Docusign, Inc.	87,200	$4,134,152
FOXA	Fox Corp	65,100	$3,801,840
MTD	Mettler Toledo International Inc/	2,540	$3,203,448
SOLV	Solventum Corp	47,800	$3,121,340
TTAN	ServiceTitan, Inc.	4,270	$270,974
No positions match the current search.

Sold Out

Positions the filer fully exited

14 positions

Ticker	Company	Shares	Value
SPGI	S&P Global Inc.	368,900	$192,783,451
LPLA	LPL Financial Holdings Inc.	445,280	$159,040,657
DHR	Danaher Corp /De/	689,899	$157,931,679
MRK	Merck & Co., Inc.	1,155,015	$121,576,878
AZO	Autozone Inc	24,102	$81,741,933
CHKP	Check Point Software Technologies Ltd	166,329	$30,864,009
BSX	Boston Scientific Corp	259,900	$24,781,465
ROP	Roper Technologies Inc	37,900	$16,870,427
EA	Electronic Arts Inc.	67,301	$13,751,613
HOLX	HOLOGIC INC	157,200	$11,709,828
ABT	Abbott Laboratories	74,700	$9,359,163
RPM	Rpm International Inc/De/	70,200	$7,300,800
CMI	Cummins Inc	8,900	$4,543,005
FG	F&G Annuities & Life, Inc.	5,760	$177,696
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

103 positions · $7,025,105,146 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 51–100 of 103 positions by value · page 2 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
IBM	International Business Machines Corp Technology	Reduced	121,580	-30,120	$29,469,776	−34.4%	0.42%
AMGN	Amgen Inc Healthcare	Reduced	83,980	-12,320	$29,548,363	−6.3%	0.42%
CTAS	Cintas Corp Industrials	Reduced	177,796	-26,100	$30,072,415	−21.6%	0.43%
OTIS	Otis Worldwide Corp Industrials	Reduced	410,000	-60,100	$31,602,800	−23.0%	0.45%
ADSK	Autodesk, Inc. Technology	Reduced	138,192	-32,960	$33,083,164	−34.7%	0.47%
ROL	Rollins Inc Consumer Cyclical	Reduced	635,417	-92,200	$33,937,621	−22.3%	0.48%
MAR	Marriott International Inc /Md/ Consumer Cyclical	NEW	106,600	NEW	$34,865,662	NEW	0.50%
VZ	Verizon Communications Inc Communication Services	Reduced	705,000	-102,000	$35,391,000	+7.7%	0.50%
CRM	Salesforce, Inc. Technology	Reduced	191,000	-47,300	$35,653,970	−43.5%	0.51%
TPR	Tapestry, Inc. Consumer Cyclical	Reduced	256,400	-54,400	$36,180,604	−8.9%	0.52%
MSI	Motorola Solutions, Inc. Technology	Reduced	85,560	-12,200	$37,130,473	−0.9%	0.53%
CDNS	Cadence Design Systems Inc Technology	Reduced	140,720	-25,520	$39,101,866	−24.8%	0.56%
WMT	Walmart Inc. Consumer Defensive	Reduced	340,239	-49,900	$42,284,902	−2.7%	0.60%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	267,100	-38,900	$42,655,870	−9.3%	0.61%
HCA	HCA Healthcare, Inc. Healthcare	Reduced	92,447	-14,320	$43,749,618	−12.2%	0.62%
BKNG	Booking Holdings Inc. Consumer Cyclical	Reduced	11,472	-2,500	$48,300,788	−35.4%	0.69%
NTAP	NetApp, Inc. Technology	Reduced	515,150	-74,300	$52,746,208	−16.4%	0.75%
GWW	W.W. Grainger, Inc. Industrials	Reduced	55,208	-7,880	$60,221,444	−5.4%	0.86%
EXPE	Expedia Group, Inc. Consumer Cyclical	Reduced	265,700	-65,200	$61,347,473	−34.6%	0.87%
BMY	Bristol Myers Squibb Co Healthcare	Reduced	1,040,700	-143,700	$63,118,455	−1.2%	0.90%
PH	Parker-Hannifin Corp Industrials	Reduced	73,400	-9,760	$65,710,616	−10.1%	0.94%
FAST	Fastenal Co Industrials	Reduced	1,686,750	-197,960	$78,265,200	+3.5%	1.11%
MO	Altria Group, Inc. Consumer Defensive	Reduced	1,292,400	-174,400	$85,285,476	+0.8%	1.21%
CSCO	Cisco Systems, Inc. Technology	Reduced	1,138,076	-150,600	$88,303,316	−11.0%	1.26%
NOW	ServiceNow, Inc. Technology	Reduced	892,280	-140,720	$93,287,874	−41.0%	1.33%
MCK	Mckesson Corp Healthcare	Reduced	109,682	-16,440	$94,914,415	−8.3%	1.35%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Reduced	1,156,151	-103,600	$106,724,298	−7.1%	1.52%
APH	Amphenol Corp /De/ Technology	Reduced	847,200	-88,500	$107,043,720	−15.3%	1.52%
QCOM	Qualcomm Inc/De Technology	Reduced	942,600	-104,500	$121,388,028	−32.2%	1.73%
KLAC	Kla Corp Technology	Reduced	87,387	-12,113	$128,669,492	+6.4%	1.83%
PEG	Public Service Enterprise Group Inc Utilities	Reduced	1,722,350	-502,900	$139,424,232	−22.0%	1.98%
IDXX	Idexx Laboratories Inc /De Healthcare	Reduced	256,480	-69,600	$144,113,547	−34.7%	2.05%
MA	Mastercard Inc Financial Services	Reduced	292,460	-41,800	$146,130,563	−23.4%	2.08%
PANW	Palo Alto Networks Inc Technology	Reduced	982,856	-62,900	$157,571,473	−18.2%	2.24%
JNJ	Johnson & Johnson Healthcare	Reduced	650,036	-73,400	$158,894,799	+6.1%	2.26%
SYK	Stryker Corp Healthcare	Added	489,760	+451,160	$160,930,238	+1086.2%	2.29%
V	Visa Inc. Financial Services	Reduced	560,679	-64,760	$169,459,620	−22.7%	2.41%
AAPL	Apple Inc. Technology	Reduced	681,852	-71,600	$173,047,219	−15.5%	2.46%
ABBV	AbbVie Inc. Healthcare	Reduced	800,849	-58,900	$174,176,649	−11.3%	2.48%
CEG	Constellation Energy Corp Utilities	Added	632,760	+86,020	$176,698,230	−8.5%	2.52%
GILD	Gilead Sciences, Inc. Healthcare	Reduced	1,303,365	-95,900	$181,649,980	+5.8%	2.59%
TXN	Texas Instruments Inc Technology	Reduced	981,511	-29,700	$190,550,545	+8.6%	2.71%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	408,930	-33,440	$201,001,362	−21.6%	2.86%
EQIX	Equinix Inc Real Estate	Reduced	206,469	-17,840	$202,389,172	+17.8%	2.88%
LRCX	Lam Research Corp Technology	Reduced	982,200	-59,300	$209,856,852	+17.7%	2.99%
NEE	Nextera Energy Inc Utilities	Reduced	2,328,732	-189,000	$216,292,628	+7.0%	3.08%
META	Meta Platforms, Inc. Communication Services	Added	399,440	+57,620	$228,531,607	+1.3%	3.25%
AVGO	Broadcom Inc. Technology	Reduced	754,692	-59,000	$233,584,720	−17.1%	3.32%
AMZN	Amazon Com Inc Consumer Cyclical	Added	1,121,800	+76,800	$233,637,286	−3.1%	3.33%
LNG	Cheniere Energy, Inc. Energy	Reduced	855,100	-64,400	$242,643,176	+35.8%	3.45%