Board of the Pension Protection Fund

Pension

CIK

2041021

Location

CROYDON, X0

Portfolio Value

Small $103,556,111

Diversification

Diversified

Filing Date

Global Rank

#5,621 / 8,578 ▲ 292

Top Industry

Software - Application 9.7%

3Y Alpha vs SPY

+1.5%

Period ended 3 months ago

Filed Apr 27, 2026 · 50d

6 quarters · since Dec 2024

Clone Performance

Feb 2025–Jun 2026 · vs SPY

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

Cloned portfolio

+28.2%

SPY

+25.8%

Annualised alpha

+1.7%

Max drawdown

−14.2%

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

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

Top Position

2.3%

+0.4 pts

Top 5

9.8%

+0.5 pts

Top 10

18.4%

+0.2 pts

HHI

128

Diversified−18

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	41.8%	$43,329,748	48
Financial Services	22.9%	$23,739,542	32
Utilities	12.4%	$12,869,333	13
Industrials	10.6%	$11,004,592	27
Communication Services	7.2%	$7,441,032	8
Healthcare	2.9%	$2,962,122	17
Consumer Cyclical	1.9%	$2,008,746	3
Unclassified	0.1%	$94,860	1
Consumer Defensive	0.1%	$81,428	2
Energy	0.0%	$24,708	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PYPL	PayPal Holdings, Inc.	+38,000	39,100	$1,768,493
EXC	Exelon Corp	+33,600	36,100	$1,769,622
NI	Nisource Inc.	+32,300	34,200	$1,595,772
TRMB	Trimble Inc.	+25,800	26,300	$1,715,549
SMCI	Super Micro Computer, Inc.	+23,800	56,100	$1,277,397
SSNC	SS&C Technologies Holdings Inc	+22,100	22,900	$1,547,353
OKTA	Okta, Inc.	+19,900	20,500	$1,613,555
PINS	Pinterest, Inc.	+17,200	67,800	$1,243,452
NTAP	NetApp, Inc.	+16,800	17,500	$1,791,825
GEN	Gen Digital Inc.	+14,700	73,800	$1,389,654
DOCU	Docusign, Inc.	+11,200	35,200	$1,668,832
HPE	Hewlett Packard Enterprise Co	+11,100	82,700	$1,969,087
INCY	Incyte Corp	+10,300	10,800	$1,016,496
PTC	Ptc Inc.	+10,200	10,400	$1,481,896
ATO	Atmos Energy Corp	+8,900	9,300	$1,717,896
RJF	Raymond James Financial Inc	+8,900	9,300	$1,346,547
NRG	Nrg Energy, Inc.	+7,900	8,500	$1,242,190
AWK	American Water Works Company, Inc.	+7,700	8,400	$1,143,156
HPQ	Hp Inc	+7,500	66,600	$1,279,386
BNY	Bank of New York Mellon Corp	+7,100	7,500	$889,725
GPN	Global Payments Inc	+6,000	24,500	$1,648,850
BR	Broadridge Financial Solutions, Inc.	+5,900	6,000	$974,880
GDDY	GoDaddy Inc.	+5,500	17,300	$1,430,191
TEL	TE Connectivity plc	+5,200	5,300	$1,107,806
FSLR	First Solar, Inc.	+4,500	5,500	$1,084,930
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CNH	CNH Industrial N.V.	−130,800	20,900	$229,900
CMCSA	Comcast Corp	−48,400	7,500	$215,325
BF-A	Brown Forman Corp	−45,900	2,200	$58,938
CNC	Centene Corp	−36,100	8,900	$291,386
NWSA	News Corp	−25,100	33,600	$837,648
CNA	Cna Financial Corp	−19,300	12,100	$555,632
APTV	Aptiv PLC	−16,000	2,500	$173,600
MET	Metlife Inc	−15,500	4,700	$332,384
PCG	PG&E Corp	−11,000	102,800	$1,806,196
BLDR	Builders FirstSource, Inc.	−10,000	1,400	$115,262
PFG	Principal Financial Group Inc	−8,500	10,200	$919,122
AIG	American International Group, Inc.	−6,800	13,400	$1,008,350
HBAN	Huntington Bancshares Inc /Md/	−6,700	87,200	$1,364,680
RF	Regions Financial Corp	−4,700	55,400	$1,447,048
BEN	Franklin Resources Inc	−3,400	63,400	$1,497,508
KHC	Kraft Heinz Co	−3,300	1,000	$22,490
EIX	Edison International	−1,800	26,500	$1,939,270
TXT	Textron Inc	−1,300	16,300	$1,427,228
FOXA	Fox Corp	−1,200	23,300	$1,360,720
RPRX	Royalty Pharma plc	−1,100	6,800	$326,196
FNF	Fidelity National Financial, Inc.	−800	27,200	$1,261,536
L	Loews Corp	−800	15,100	$1,611,774
HIG	Hartford Insurance Group, Inc.	−500	10,900	$1,474,007
CINF	Cincinnati Financial Corp	−500	9,400	$1,479,090
MOH	Molina Healthcare, Inc.	−300	1,400	$186,620
No positions match the current search.

New Positions

Positions the filer opened this quarter

15 positions

Ticker	Company	Shares	Value
MRVL	Marvell Technology, Inc.	17,300	$1,713,565
LVS	Las Vegas Sands Corp	29,500	$1,589,460
CLS	Celestica Inc	5,100	$1,436,568
OTEX	Open Text Corp	63,600	$1,414,464
GIB	Cgi Inc	19,200	$1,403,520
DSGX	Descartes Systems Group Inc	17,000	$1,216,520
HOOD	Robinhood Markets, Inc.	14,500	$1,004,850
FIS	Fidelity National Information Services, Inc.	10,700	$501,937
CAT	Caterpillar Inc	560	$396,737
AVGO	Broadcom Inc.	1,000	$309,510
MPWR	Monolithic Power Systems Inc	280	$306,138
AXP	American Express Co	800	$241,984
AAPL	Apple Inc.	800	$203,032
NDAQ	Nasdaq, Inc.	1,800	$152,802
VSNT	Versant Media Group, Inc.	2,200	$81,444
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
GM	General Motors Co	22,300	$1,813,436
EXPE	Expedia Group, Inc.	6,200	$1,756,522
EG	Everest Group, Ltd.	5,120	$1,737,472
WRB	Berkley W R Corp	24,300	$1,703,916
TRV	Travelers Companies, Inc.	5,760	$1,670,745
ACGL	Arch Capital Group Ltd.	17,400	$1,669,008
F	Ford Motor Co	126,000	$1,653,120
HAL	Halliburton Co	57,700	$1,630,602
AVY	Avery Dennison Corp	8,600	$1,564,168
CTRA	Coterra Energy Inc.	59,200	$1,558,144
VZ	Verizon Communications Inc	37,400	$1,523,302
SW	Smurfit Westrock plc	36,900	$1,426,923
CHTR	Charter Communications, Inc. /Mo/	6,140	$1,281,725
DOW	Dow Inc.	54,100	$1,264,858
LYB	LyondellBasell Industries N.V.	12,400	$536,920
BAX	Baxter International Inc	13,300	$254,163
KR	Kroger Co	1,800	$112,464
HRL	Hormel Foods Corp /De/	3,900	$92,430
PFE	Pfizer Inc	2,900	$72,210
FFIV	F5, Inc.	240	$61,262
ELV	Elevance Health, Inc.	160	$56,088
SLB	Slb Limited/Nv	1,400	$53,732
BIIB	Biogen Inc.	300	$52,797
MRK	Merck & Co., Inc.	500	$52,630
FG	F&G Annuities & Life, Inc.	1,680	$51,828
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

152 positions · $103,556,111 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 152 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DELL	Dell Technologies Inc. Technology	Added	14,500	+3,400	$2,379,885	+70.3%	2.30%
TWLO	Twilio Inc Technology	Added	15,800	+2,800	$1,987,956	+7.5%	1.92%
HPE	Hewlett Packard Enterprise Co Technology	Added	82,700	+11,100	$1,969,087	+14.5%	1.90%
EIX	Edison International Utilities	Reduced	26,500	-1,800	$1,939,270	+14.2%	1.87%
ZM	Zoom Communications, Inc. Technology	Added	22,800	+1,400	$1,832,892	−0.7%	1.77%
PCG	PG&E Corp Utilities	Reduced	102,800	-11,000	$1,806,196	−1.2%	1.74%
NTAP	NetApp, Inc. Technology	Added	17,500	+16,800	$1,791,825	+2290.3%	1.73%
EXC	Exelon Corp Utilities	Added	36,100	+33,600	$1,769,622	+1523.9%	1.71%
PYPL	PayPal Holdings, Inc. Financial Services	Added	39,100	+38,000	$1,768,493	+2653.9%	1.71%
FLEX	Flex Ltd. Technology	Held	26,900	0	$1,760,874	+8.3%	1.70%
ATO	Atmos Energy Corp Utilities	Added	9,300	+8,900	$1,717,896	+2462.0%	1.66%
TRMB	Trimble Inc. Technology	Added	26,300	+25,800	$1,715,549	+4279.2%	1.66%
MRVL	Marvell Technology, Inc. Technology	NEW	17,300	NEW	$1,713,565	NEW	1.65%
OMC	Omnicom Group Inc. Communication Services	Added	22,500	+800	$1,694,475	−3.3%	1.64%
DOCU	Docusign, Inc. Technology	Added	35,200	+11,200	$1,668,832	+1.7%	1.61%
GPN	Global Payments Inc Industrials	Added	24,500	+6,000	$1,648,850	+15.2%	1.59%
OKTA	Okta, Inc. Technology	Added	20,500	+19,900	$1,613,555	+3010.0%	1.56%
L	Loews Corp Financial Services	Reduced	15,100	-800	$1,611,774	−3.7%	1.56%
NI	Nisource Inc. Utilities	Added	34,200	+32,300	$1,595,772	+1911.2%	1.54%
LVS	Las Vegas Sands Corp Consumer Cyclical	NEW	29,500	NEW	$1,589,460	NEW	1.53%
SSNC	SS&C Technologies Holdings Inc Technology	Added	22,900	+22,100	$1,547,353	+2112.5%	1.49%
SYF	Synchrony Financial Financial Services	Added	22,700	+2,900	$1,544,054	−6.5%	1.49%
FWONA	Liberty Media Corp Communication Services	Added	19,600	+3,400	$1,530,368	+5.7%	1.48%
BEN	Franklin Resources Inc Financial Services	Reduced	63,400	-3,400	$1,497,508	−6.2%	1.45%
DAL	Delta Air Lines, Inc. Industrials	Added	22,500	+600	$1,495,800	−1.6%	1.44%
PTC	Ptc Inc. Technology	Added	10,400	+10,200	$1,481,896	+4153.2%	1.43%
CINF	Cincinnati Financial Corp Financial Services	Reduced	9,400	-500	$1,479,090	−8.5%	1.43%
HIG	Hartford Insurance Group, Inc. Financial Services	Reduced	10,900	-500	$1,474,007	−6.2%	1.42%
RF	Regions Financial Corp Financial Services	Reduced	55,400	-4,700	$1,447,048	−11.2%	1.40%
CTSH	Cognizant Technology Solutions Corp Technology	Added	23,500	+3,200	$1,441,725	−14.4%	1.39%
CDW	CDW Corp Technology	Added	11,900	+3,800	$1,440,138	+30.5%	1.39%
CLS	Celestica Inc Technology	NEW	5,100	NEW	$1,436,568	NEW	1.39%
GDDY	GoDaddy Inc. Technology	Added	17,300	+5,500	$1,430,191	−2.3%	1.38%
TXT	Textron Inc Industrials	Reduced	16,300	-1,300	$1,427,228	−7.0%	1.38%
OTEX	Open Text Corp Technology	NEW	63,600	NEW	$1,414,464	NEW	1.37%
GIB	Cgi Inc Technology	NEW	19,200	NEW	$1,403,520	NEW	1.36%
GEN	Gen Digital Inc. Technology	Added	73,800	+14,700	$1,389,654	−13.5%	1.34%
HBAN	Huntington Bancshares Inc /Md/ Financial Services	Reduced	87,200	-6,700	$1,364,680	−16.2%	1.32%
FOXA	Fox Corp Communication Services	Reduced	23,300	-1,200	$1,360,720	−24.0%	1.31%
PRU	Prudential Financial Inc Financial Services	Reduced	13,900	-100	$1,357,891	−14.1%	1.31%
RJF	Raymond James Financial Inc Financial Services	Added	9,300	+8,900	$1,346,547	+1996.2%	1.30%
UAL	United Airlines Holdings, Inc. Industrials	Added	14,100	+300	$1,298,187	−15.9%	1.25%
EQH	Equitable Holdings, Inc. Financial Services	Reduced	34,600	-100	$1,284,006	−22.3%	1.24%
HPQ	Hp Inc Technology	Added	66,600	+7,500	$1,279,386	−2.8%	1.24%
SMCI	Super Micro Computer, Inc. Technology	Added	56,100	+23,800	$1,277,397	+35.1%	1.23%
FNF	Fidelity National Financial, Inc. Financial Services	Reduced	27,200	-800	$1,261,536	−17.5%	1.22%
PINS	Pinterest, Inc. Communication Services	Added	67,800	+17,200	$1,243,452	−5.1%	1.20%
NRG	Nrg Energy, Inc. Utilities	Added	8,500	+7,900	$1,242,190	+1200.1%	1.20%
CEG	Constellation Energy Corp Utilities	Added	4,360	+4,240	$1,217,530	+2772.1%	1.18%
DSGX	Descartes Systems Group Inc Technology	NEW	17,000	NEW	$1,216,520	NEW	1.17%