Impax Asset Management Group plc
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), Impax Asset Management Group plc reported 295 stock positions worth $16.6 billion. Its top holding was Linde (LIN) at 5.0% of the portfolio, followed by Microsoft (MSFT, 4.2%) and Xylem (XYL, 3.5%). Compared with Q4 2024, it opened 19 new positions, sold out of 36, added to 112 and reduced 133. The biggest buy was eBay (EBAY, shares +2536%) and the biggest sale Mastercard Class A (MA, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001749768
- Portfolio Value
- $16.6B (Q1 2025)
- SEC Filing
- 0001749768-25-000042 ↗ filed Apr 29, 2025
Holdings Value
Holdings 295 stocks · $16.6B
| LIN Linde PLC | 5.02% | 1,794,517 | $834.3M | Reduce -20.2% |
| MSFT Microsoft Corp. | 4.17% | 1,846,615 | $691.7M | Reduce -22.1% |
| XYL Xylem Inc. | 3.47% | 4,836,497 | $576.2M | Reduce -13.0% |
| NVDA Nvidia Corp. | 2.75% | 4,220,817 | $456.4M | Reduce -20.8% |
| PNR Pentair PLC | 2.61% | 4,969,006 | $433.8M | Reduce -1.8% |
| VLTO Veralto Corp. | 2.30% | 3,924,722 | $381.7M | Reduce -1.6% |
| IEX Idex Corp. | 2.19% | 2,006,724 | $363.2M | Add +11.5% |
| WM Waste Management Inc. | 2.11% | 1,510,721 | $349.7M | Reduce -7.5% |
| A Agilent Technologies Inc. | 2.07% | 2,931,794 | $343.0M | Add +3.6% |
| AWK American Water Works Co. Inc. | 2.05% | 2,309,589 | $340.7M | Reduce -50.2% |
| AOS Smith (a.o.) Corp. | 2.04% | 5,188,561 | $339.1M | Add +67.3% |
| WMS Advanced Drainage Systems Inc. | 1.90% | 2,904,414 | $314.7M | Add +14.8% |
| HUBB Hubbell Inc. | 1.83% | 919,156 | $303.4M | Reduce -10.3% |
| TEL Te Connectivity PLC | 1.65% | 1,942,320 | $273.8M | Reduce -38.7% |
| KLAC KLA Corp. | 1.59% | 389,834 | $264.3M | Add +53.3% |
| RNR Renaissancere Holdings Ltd. | 1.58% | 1,097,306 | $262.5M | Reduce -41.6% |
| EBAY eBay Inc. | 1.44% | 3,535,290 | $239.0M | Add +2536.5% |
| AMAT Applied Materials Inc. | 1.39% | 1,595,646 | $230.9M | Reduce -39.0% |
| MRVL Marvell Technology Inc. | 1.37% | 3,700,841 | $227.0M | Add +748.3% |
| MTD Mettler-Toledo International | 1.36% | 191,467 | $226.1M | Reduce -3.7% |
| WTS Watts Water Technologies-A | 1.36% | 1,109,533 | $225.6M | Reduce -11.8% |
| SNPS Synopsys Inc. | 1.25% | 483,217 | $207.2M | Reduce -1.6% |
| CARR Carrier Global Corp. | 1.25% | 3,265,007 | $207.0M | Reduce -6.8% |
| TXN Texas Instruments Inc. | 1.22% | 1,123,688 | $201.9M | Reduce -3.1% |
| APTV Aptiv PLC | 1.19% | 3,314,676 | $196.9M | Reduce -30.4% |
| CTAS Cintas Corp. | 1.17% | 952,049 | $194.9M | Reduce -48.8% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 1.16% | 10,843,612 | $193.0M | Reduce -19.8% |
| CHE Chemed Corp. | 1.12% | 301,580 | $185.6M | Reduce -9.3% |
| RSG Republic Services Inc. | 1.05% | 719,397 | $174.2M | Reduce -16.1% |
| ANSS Ansys Inc. | 1.03% | 542,725 | $171.8M | Reduce -3.3% |
| ADSK Autodesk Inc. | 0.99% | 630,995 | $165.2M | Reduce -4.5% |
| ECL Ecolab Inc. | 0.95% | 625,384 | $158.5M | Reduce -4.3% |
| WAT Waters Corp. | 0.94% | 424,753 | $156.6M | Reduce -40.5% |
| ORA Ormat Technologies Inc. | 0.94% | 2,223,617 | $156.2M | Reduce -7.9% |
| MAS Masco Corp. | 0.94% | 2,244,341 | $156.1M | Reduce -2.2% |
| CNM Core & Main Inc. Class A | 0.93% | 3,208,041 | $155.0M | Reduce -6.5% |
| UNP Union Pacific Corp. | 0.93% | 655,314 | $154.8M | Add +5.2% |
| PTC PTC Inc. | 0.89% | 963,005 | $147.9M | Reduce -7.0% |
| TRMB Trimble Inc. | 0.89% | 2,268,619 | $147.7M | Reduce -11.9% |
| BSX Boston Scientific Corp. | 0.88% | 1,464,770 | $146.4M | Reduce -67.5% |
| RYN Rayonier Inc. | 0.87% | 5,227,844 | $144.7M | Reduce -12.3% |
| ACM Aecom | 0.84% | 1,503,370 | $139.4M | Reduce -2.2% |
| MA Mastercard Inc. Class A | 0.83% | 254,793 | $138.3M | Reduce -69.3% |
| ORCL Oracle Corp. | 0.83% | 990,041 | $137.3M | Reduce -51.0% |
| V Visa Inc. Class A | 0.81% | 384,284 | $133.8M | Reduce -60.9% |
| ZWS Zurn Elkay Water Solutions C | 0.80% | 4,016,374 | $132.5M | Reduce -1.8% |
| CDNS Cadence Design SYS Inc. | 0.77% | 509,008 | $128.7M | Reduce -58.8% |
| APH Amphenol Corp. Class A | 0.77% | 1,951,265 | $128.0M | New |
| SITE Siteone Landscape Supply Inc. | 0.74% | 1,010,816 | $122.8M | Reduce -2.2% |
| MPWR Monolithic Power Systems Inc. | 0.72% | 208,618 | $120.1M | Reduce -12.3% |
| LFUS Littelfuse Inc. | 0.67% | 566,393 | $110.6M | Reduce -14.8% |
| MRSH Marsh & McLennan Cos | 0.64% | 440,881 | $106.4M | Reduce -71.6% |
| GNRC Generac Holdings Inc. | 0.63% | 835,399 | $105.0M | Reduce -0.9% |
| TT Trane Technologies PLC | 0.63% | 308,053 | $103.8M | Reduce -27.9% |
| RGEN Repligen Corp. | 0.61% | 804,511 | $101.5M | Reduce -23.5% |
| MWA Mueller Water Products Inc. Class A | 0.61% | 3,967,669 | $100.9M | Reduce -13.4% |
| WCN Waste Connections Inc. | 0.60% | 516,905 | $99.6M | Add +69.3% |
| TMO Thermo Fisher Scientific Inc. | 0.57% | 192,838 | $95.0M | Reduce -69.1% |
| BSY Bentley Systems Inc. Class B | 0.57% | 2,415,979 | $94.3M | Reduce -3.1% |
| CLH Clean Harbors Inc. | 0.57% | 483,253 | $94.0M | Add +11.1% |
| AAPL Apple Inc. | 0.56% | 414,890 | $92.2M | Reduce -26.1% |
| VMI Valmont Industries | 0.53% | 311,088 | $88.8M | Reduce -3.5% |
| DAR Darling Ingredients Inc. | 0.52% | 2,772,289 | $86.1M | Reduce -7.3% |
| VOYA Voya Financial Inc. | 0.52% | 1,276,669 | $86.0M | Reduce -56.0% |
| ADI Analog Devices Inc. | 0.49% | 410,189 | $81.9M | Reduce -68.8% |
| GPK Graphic Packaging Holding Co. | 0.49% | 3,141,459 | $80.8M | Reduce -10.8% |
| FELE Franklin Electric Co. Inc. | 0.48% | 843,614 | $79.2M | Reduce -2.2% |
| DHR Danaher Corp. | 0.47% | 380,174 | $77.3M | Reduce -58.9% |
| GOOGL Alphabet Inc. Class A | 0.46% | 492,626 | $76.2M | Reduce -25.8% |
| CGNX Cognex Corp. | 0.43% | 2,427,715 | $72.1M | Reduce -52.2% |
| HDB HDFC Bank Ltd.-ADR | 0.41% | 1,041,998 | $68.5M | Reduce -66.8% |
| AZEK The Azek Co. Inc. | 0.40% | 1,376,510 | $66.4M | Reduce -10.4% |
| CFR Cullen/Frost Bankers Inc. | 0.39% | 518,387 | $64.4M | Add +350.8% |
| ISRG Intuitive Surgical Inc. | 0.38% | 127,713 | $62.6M | Reduce -36.0% |
| NOW ServiceNow Inc. | 0.37% | 76,559 | $60.6M | Add +51.2% |
| DCI Donaldson Co. Inc. | 0.35% | 878,632 | $58.1M | Add +27.5% |
| TREX Trex Company Inc. | 0.32% | 909,388 | $52.8M | Add +0.3% |
| NVT Nvent Electric PLC | 0.31% | 996,668 | $51.7M | Add +54.0% |
| LLY Eli Lilly & Co. | 0.31% | 61,438 | $50.7M | Add +31.9% |
| MKC McCormick & Co.-Non VTG SHRS | 0.27% | 547,368 | $45.1M | Reduce -19.9% |
| JPM JPMorgan Chase & Co. | 0.27% | 180,793 | $44.3M | Reduce -34.5% |
| ZTS Zoetis Inc. | 0.25% | 254,407 | $41.7M | Add +152.8% |
| PG The Procter & Gamble Co. | 0.25% | 241,842 | $41.2M | Reduce -19.3% |
| AMZN Amazon.com Inc. | 0.25% | 214,880 | $40.9M | Add +128.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 400,759 | $39.6M | Reduce -22.6% |
| VRT Vertiv Holdings Co. Class A | 0.23% | 532,069 | $38.4M | Add +7.0% |
| PGR Progressive Corp. | 0.23% | 133,753 | $37.9M | Add +100.6% |
| AAON Aaon Inc. | 0.22% | 469,850 | $36.2M | New |
| VCTR Victory Capital Holding - A | 0.22% | 625,000 | $36.2M | No change |
| MRK Merck & Co. Inc. | 0.22% | 399,284 | $35.8M | Reduce -10.4% |
| GILD Gilead Sciences Inc. | 0.19% | 284,006 | $31.8M | Reduce -25.4% |
| CSL Carlisle Cos Inc. | 0.18% | 86,748 | $29.5M | Reduce -8.5% |
| LGND Ligand Pharmaceuticals | 0.18% | 280,208 | $29.5M | No change |
| AMT American Tower Corp. | 0.17% | 130,979 | $28.5M | Add +294.0% |
| AAMI Acadian Asset Management Inc. | 0.17% | 1,100,000 | $28.4M | Add +10.0% |
| PLD Prologis Inc. | 0.17% | 249,265 | $27.9M | Reduce -22.8% |
| CME Cme Group Inc. | 0.16% | 102,635 | $27.2M | Reduce -29.4% |
| SBUX Starbucks Corp. | 0.16% | 262,760 | $25.8M | Reduce -16.0% |
| CVS CVS Health Corp. | 0.15% | 379,107 | $25.7M | Reduce -14.0% |
| BALL Ball Corp. | 0.15% | 480,660 | $25.0M | Add +4.8% |
Portfolio Sells Q4 2024 → Q1 2025
| MA Mastercard Inc. Class A | Reduce -69.3% | 0.83% | −1.14 |
| BSX Boston Scientific Corp. | Reduce -67.5% | 0.88% | −0.94 |
| CDNS Cadence Design SYS Inc. | Reduce -58.8% | 0.77% | −0.90 |
| TMO Thermo Fisher Scientific Inc. | Reduce -69.1% | 0.57% | −0.89 |
| STE Steris PLC | Sold out | 0.00% | −0.88 |
| MRSH Marsh & McLennan Cos | Reduce -71.6% | 0.64% | −0.85 |
| ADI Analog Devices Inc. | Reduce -68.8% | 0.49% | −0.77 |
| COO The Cooper Cos Inc. | Reduce -89.9% | 0.10% | −0.72 |
| ORCL Oracle Corp. | Reduce -51.0% | 0.83% | −0.70 |
| V Visa Inc. Class A | Reduce -60.9% | 0.81% | −0.60 |
| ALTR Altair Engineering Inc. Class A | Sold out | 0.00% | −0.59 |
| AWK American Water Works Co. Inc. | Reduce -50.2% | 2.05% | −0.56 |
| AMAT Applied Materials Inc. | Reduce -39.0% | 1.39% | −0.53 |
| RNR Renaissancere Holdings Ltd. | Reduce -41.6% | 1.58% | −0.53 |
| DHR Danaher Corp. | Reduce -58.9% | 0.47% | −0.49 |
| HDB HDFC Bank Ltd.-ADR | Reduce -66.8% | 0.41% | −0.49 |
| LII Lennox International Inc. | Reduce -95.4% | 0.03% | −0.49 |
| NVDA Nvidia Corp. | Reduce -20.8% | 2.75% | −0.49 |
| TEL Te Connectivity PLC | Reduce -38.7% | 1.65% | −0.40 |
| CGNX Cognex Corp. | Reduce -52.2% | 0.43% | −0.39 |
| VOYA Voya Financial Inc. | Reduce -56.0% | 0.52% | −0.38 |
| CTAS Cintas Corp. | Reduce -48.8% | 1.17% | −0.36 |
| MSFT Microsoft Corp. | Reduce -22.1% | 4.17% | −0.35 |
| WAT Waters Corp. | Reduce -40.5% | 0.94% | −0.26 |
| HRI Herc Holdings Inc. | Reduce -87.5% | 0.03% | −0.21 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.18 |
| TGT Target Corp. | Sold out | 0.00% | −0.17 |
| LOW Lowe's Cos Inc. | Sold out | 0.00% | −0.16 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.16 |
| IQV Iqvia Holdings Inc. | Reduce -90.2% | 0.02% | −0.16 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.14 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −0.13 |
| PPG PPG Industries Inc. | Reduce -92.7% | 0.01% | −0.13 |
| APTV Aptiv PLC | Reduce -30.4% | 1.19% | −0.12 |
| HUBB Hubbell Inc. | Reduce -10.3% | 1.83% | −0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -25.8% | 0.46% | −0.11 |
| WY Weyerhaeuser Co. | Reduce -96.7% | 0.01% | −0.11 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.10 |
| NBIX Neurocrine Biosciences Inc. | Reduce -61.8% | 0.07% | −0.10 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.09 |
| ISRG Intuitive Surgical Inc. | Reduce -36.0% | 0.38% | −0.09 |
| TT Trane Technologies PLC | Reduce -27.9% | 0.63% | −0.09 |
| ABT Abbott Laboratories | Reduce -63.1% | 0.12% | −0.09 |
| SHLS Shoals Technologies Group -A | Sold out | 0.00% | −0.09 |
| ULTA Ulta Beauty Inc. | Reduce -48.4% | 0.12% | −0.09 |
| AVY Avery Dennison Corp. | Sold out | 0.00% | −0.08 |
| AAPL Apple Inc. | Reduce -26.1% | 0.56% | −0.08 |
| CCK Crown Holdings Inc. | Sold out | 0.00% | −0.08 |
| RGEN Repligen Corp. | Reduce -23.5% | 0.61% | −0.07 |
| AVTR Avantor Inc. | Reduce -31.5% | 0.12% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| EBAY eBay Inc. | Add +2536.5% | 1.44% | +1.40 |
| MRVL Marvell Technology Inc. | Add +748.3% | 1.37% | +1.15 |
| AOS Smith (a.o.) Corp. | Add +67.3% | 2.04% | +1.08 |
| KLAC KLA Corp. | Add +53.3% | 1.59% | +0.87 |
| APH Amphenol Corp. Class A | New | 0.77% | +0.77 |
| WMS Advanced Drainage Systems Inc. | Add +14.8% | 1.90% | +0.57 |
| IEX Idex Corp. | Add +11.5% | 2.19% | +0.48 |
| WCN Waste Connections Inc. | Add +69.3% | 0.60% | +0.37 |
| A Agilent Technologies Inc. | Add +3.6% | 2.07% | +0.34 |
| CFR Cullen/Frost Bankers Inc. | Add +350.8% | 0.39% | +0.32 |
| UNP Union Pacific Corp. | Add +5.2% | 0.93% | +0.29 |
| AAON Aaon Inc. | New | 0.22% | +0.22 |
| ZTS Zoetis Inc. | Add +152.8% | 0.25% | +0.18 |
| PGR Progressive Corp. | Add +100.6% | 0.23% | +0.16 |
| AMZN Amazon.com Inc. | Add +128.4% | 0.25% | +0.15 |
| AMT American Tower Corp. | Add +294.0% | 0.17% | +0.14 |
| LLY Eli Lilly & Co. | Add +31.9% | 0.31% | +0.14 |
| DCI Donaldson Co. Inc. | Add +27.5% | 0.35% | +0.14 |
| CL Colgate-Palmolive Co. | Add +1105.0% | 0.14% | +0.13 |
| NOW ServiceNow Inc. | Add +51.2% | 0.37% | +0.12 |
| CLH Clean Harbors Inc. | Add +11.1% | 0.57% | +0.12 |
| NVT Nvent Electric PLC | Add +54.0% | 0.31% | +0.11 |
| UBER Uber Technologies Inc. | New | 0.09% | +0.09 |
| IP International Paper Co. | New | 0.08% | +0.08 |
| AAMI Acadian Asset Management Inc. | Add +10.0% | 0.17% | +0.05 |
| PNFP Pinnacle Financial Partners | New | 0.04% | +0.04 |
| LYFT LYFT Inc. Class A | New | 0.04% | +0.04 |
| HUBS HubSpot Inc. | Add +220.2% | 0.06% | +0.04 |
| BALL Ball Corp. | Add +4.8% | 0.15% | +0.04 |
| TREX Trex Company Inc. | Add +0.3% | 0.32% | +0.03 |
| RIVN Rivian Automotive Inc. Class A | New | 0.03% | +0.03 |
| ELV Elevance Health Inc. | Add +12.0% | 0.08% | +0.03 |
| CMG Chipotle Mexican Grill Inc. | Add +22.8% | 0.11% | +0.03 |
| MOD Modine Manufacturing Co. | New | 0.03% | +0.03 |
| HHH Howard Hughes Holdings Inc. | Add +2.1% | 0.12% | +0.03 |
| K Kellanova | Add +49.3% | 0.05% | +0.03 |
| EXTR Extreme Networks Inc. | Add +41.5% | 0.08% | +0.02 |
| INTU Intuit Inc. | Add +6.6% | 0.09% | +0.02 |
| AGCO Agco Corp. | Add +11.1% | 0.07% | +0.02 |
| FITB Fifth Third Bancorp | Add +30.8% | 0.05% | +0.02 |
| NTCT Netscout Systems Inc. | Add +1.8% | 0.07% | +0.02 |
| SEE Sealed Air Corp. | Add +6.7% | 0.10% | +0.02 |
| MITK Mitek Systems Inc. | Add +70.0% | 0.04% | +0.02 |
| ETN Eaton Corp. PLC | Add +126.9% | 0.02% | +0.01 |
| WSC Willscot Holdings Corp. | Add +27.9% | 0.05% | +0.01 |
| ALV Autoliv Inc. | Add +11.9% | 0.04% | +0.01 |
| VITL Vital Farms Inc. | Add +48.0% | 0.03% | +0.01 |
| EIX Edison International | Add +25.6% | 0.06% | +0.01 |
| CMI Cummins Inc. | Add +12.3% | 0.04% | +0.01 |
| ACN Accenture PLC Class A | Add +3.3% | 0.06% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 284 | $15.4B | KLAC, NVDA, LIN, XYL, MSFT |
| Q1 2026 | 287 | $14.3B | LIN, NVDA, XYL, KLAC, MSFT |
| Q4 2025 | 279 | $16.0B | LIN, MSFT, XYL, NVDA, HUBB |
| Q3 2025 | 275 | $17.1B | LIN, MSFT, XYL, NVDA, VLTO |
| Q2 2025 | 280 | $17.4B | LIN, MSFT, XYL, NVDA, PNR |
| Q1 2025 | 295 | $16.6B | LIN, MSFT, XYL, NVDA, PNR |
| Q4 2024 | 312 | $22.1B | MSFT, LIN, NVDA, XYL, AWK |
| Q3 2024Amended | 313 | $25.4B | MSFT, LIN, AWK, PNR, NVDA |
| Q2 2024Amended | 315 | $24.6B | MSFT, LIN, AWK, PNR, AMAT |
| Q1 2024 | 308 | $26.1B | MSFT, LIN, AWK, PNR, CTAS |