Impax Asset Management Group plc
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Impax Asset Management Group plc reported 275 stock positions worth $17.1 billion. Its top holding was Linde (LIN) at 5.3% of the portfolio, followed by Microsoft (MSFT, 4.7%) and Xylem (XYL, 4.6%). Compared with Q2 2025, it opened 21 new positions, sold out of 26, added to 64 and reduced 144. The biggest buy was Aptiv (APTV, shares +54%) and the biggest sale Mettler-Toledo International (MTD, shares −81%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001749768
- Portfolio Value
- $17.1B (Q3 2025)
- SEC Filing
- 0001749768-25-000052 ↗ filed Nov 6, 2025
Holdings Value
Holdings 275 stocks · $17.1B
| LIN Linde PLC | 5.29% | 1,908,814 | $906.7M | Add +0.5% |
| MSFT Microsoft Corp. | 4.71% | 1,558,008 | $807.0M | Reduce -1.6% |
| XYL Xylem Inc. | 4.57% | 5,318,101 | $782.9M | Reduce -3.3% |
| NVDA Nvidia Corp. | 3.46% | 3,179,954 | $593.3M | Reduce -16.6% |
| VLTO Veralto Corp. | 2.38% | 3,839,722 | $408.5M | Add +3.9% |
| HUBB Hubbell Inc. | 2.35% | 937,136 | $402.4M | Reduce -6.9% |
| PNR Pentair PLC | 2.31% | 3,585,069 | $396.3M | Reduce -18.7% |
| APTV Aptiv PLC | 2.28% | 4,523,145 | $390.0M | Add +54.5% |
| A Agilent Technologies Inc. | 2.22% | 2,961,796 | $380.1M | Reduce -2.0% |
| AOS Smith (a.o.) Corp. | 2.08% | 4,850,158 | $356.1M | Add +3.4% |
| WMS Advanced Drainage Systems Inc. | 2.02% | 2,500,076 | $345.8M | Reduce -17.9% |
| IEX Idex Corp. | 1.86% | 1,960,819 | $319.1M | Reduce -0.3% |
| RNR Renaissancere Holdings Ltd. | 1.81% | 1,220,424 | $309.9M | Add +0.0% |
| SNPS Synopsys Inc. | 1.78% | 621,909 | $305.5M | Add +0.6% |
| MRVL Marvell Technology Inc. | 1.78% | 3,628,126 | $304.3M | Add +6.5% |
| KLAC KLA Corp. | 1.58% | 252,188 | $271.2M | Reduce -26.9% |
| EBAY eBay Inc. | 1.49% | 2,813,001 | $255.8M | Reduce -26.2% |
| ZTS Zoetis Inc. | 1.45% | 1,693,701 | $247.8M | Add +43.9% |
| CARR Carrier Global Corp. | 1.44% | 4,147,476 | $246.7M | Add +54.2% |
| WM Waste Management Inc. | 1.44% | 1,117,078 | $246.7M | Add +0.4% |
| AWK American Water Works Co. Inc. | 1.40% | 1,729,024 | $240.7M | Reduce -0.4% |
| AMAT Applied Materials Inc. | 1.29% | 1,079,832 | $221.1M | Reduce -19.4% |
| CTAS Cintas Corp. | 1.24% | 1,039,226 | $213.3M | Add +14.3% |
| WTS Watts Water Technologies-A | 1.21% | 745,622 | $207.5M | Reduce -15.1% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 1.19% | 8,202,920 | $203.3M | Reduce -10.3% |
| ITRI Itron Inc. | 1.15% | 1,588,950 | $197.2M | Add +127.3% |
| MA Mastercard Inc. Class A | 1.15% | 345,960 | $196.8M | Add +8.4% |
| TEL Te Connectivity PLC | 1.10% | 856,297 | $188.0M | Reduce -48.3% |
| ACM Aecom | 1.07% | 1,402,073 | $182.9M | Reduce -7.6% |
| UNP Union Pacific Corp. | 1.06% | 768,272 | $181.6M | Add +26.7% |
| MAS Masco Corp. | 1.02% | 2,482,960 | $174.8M | Reduce -5.8% |
| ECL Ecolab Inc. | 0.99% | 620,340 | $169.9M | Reduce -5.0% |
| ORCL Oracle Corp. | 0.99% | 602,136 | $169.3M | Reduce -37.1% |
| BSX Boston Scientific Corp. | 0.98% | 1,727,380 | $168.6M | Add +19.1% |
| ORA Ormat Technologies Inc. | 0.98% | 1,763,110 | $168.3M | Reduce -12.9% |
| CDNS Cadence Design SYS Inc. | 0.91% | 446,342 | $156.8M | Reduce -3.8% |
| TRMB Trimble Inc. | 0.90% | 1,910,478 | $154.5M | Reduce -10.1% |
| RSG Republic Services Inc. | 0.87% | 647,983 | $148.7M | Reduce -4.2% |
| ZWS Zurn Elkay Water Solutions C | 0.86% | 3,128,146 | $147.1M | Reduce -36.6% |
| PTC PTC Inc. | 0.86% | 729,164 | $146.5M | Reduce -2.9% |
| CNM Core & Main Inc. Class A | 0.81% | 2,593,222 | $139.6M | Reduce -19.2% |
| VRT Vertiv Holdings Co. Class A | 0.81% | 918,200 | $138.5M | Add +94.4% |
| APH Amphenol Corp. Class A | 0.81% | 1,116,115 | $138.1M | Reduce -23.5% |
| ADSK Autodesk Inc. | 0.70% | 378,321 | $120.2M | Reduce -31.0% |
| MPWR Monolithic Power Systems Inc. | 0.70% | 131,401 | $120.0M | Reduce -24.4% |
| SITE Siteone Landscape Supply Inc. | 0.69% | 920,661 | $118.6M | Reduce -8.9% |
| LFUS Littelfuse Inc. | 0.68% | 456,031 | $117.1M | Reduce -5.8% |
| CFR Cullen/Frost Bankers Inc. | 0.68% | 920,833 | $116.7M | Add +11.9% |
| VMI Valmont Industries | 0.68% | 299,491 | $116.1M | Reduce -4.5% |
| CHE Chemed Corp. | 0.66% | 253,182 | $113.4M | Reduce -5.4% |
| WCN Waste Connections Inc. | 0.66% | 653,811 | $113.2M | Add +3.3% |
| TT Trane Technologies PLC | 0.64% | 261,508 | $110.3M | Reduce -4.0% |
| NOW ServiceNow Inc. | 0.63% | 117,153 | $107.8M | Add +32.6% |
| FELE Franklin Electric Co. Inc. | 0.62% | 1,121,191 | $106.7M | Reduce -10.1% |
| DHR Danaher Corp. | 0.59% | 506,029 | $100.3M | Reduce -3.1% |
| TREX Trex Company Inc. | 0.58% | 1,934,581 | $99.4M | Add +93.0% |
| BSY Bentley Systems Inc. Class B | 0.58% | 1,943,672 | $99.2M | Reduce -17.8% |
| ISRG Intuitive Surgical Inc. | 0.56% | 213,773 | $95.6M | Add +60.5% |
| AAPL Apple Inc. | 0.56% | 373,893 | $95.2M | Reduce -5.1% |
| RGEN Repligen Corp. | 0.54% | 703,237 | $93.0M | Reduce -7.6% |
| TXN Texas Instruments Inc. | 0.53% | 497,310 | $91.4M | Reduce -47.1% |
| MRSH Marsh & McLennan Cos | 0.51% | 430,210 | $86.7M | Reduce -10.8% |
| MWA Mueller Water Products Inc. Class A | 0.50% | 3,364,757 | $85.9M | No change |
| AAON Aaon Inc. | 0.49% | 916,047 | $84.7M | Add +56.0% |
| NVT Nvent Electric PLC | 0.49% | 857,515 | $83.5M | Reduce -7.4% |
| AMZN Amazon.com Inc. | 0.46% | 362,358 | $79.6M | Reduce -0.1% |
| WAT Waters Corp. | 0.46% | 263,546 | $79.0M | Reduce -3.9% |
| GNRC Generac Holdings Inc. | 0.45% | 463,101 | $76.9M | Reduce -41.6% |
| TMO Thermo Fisher Scientific Inc. | 0.42% | 150,031 | $72.8M | Reduce -12.0% |
| CLH Clean Harbors Inc. | 0.34% | 252,141 | $57.7M | Reduce -29.2% |
| HDB HDFC Bank Ltd.-ADR | 0.34% | 1,687,380 | $57.6M | Reduce -11.4% |
| PGR Progressive Corp. | 0.33% | 229,039 | $56.6M | Reduce -3.6% |
| JPM JPMorgan Chase & Co. | 0.31% | 166,326 | $52.5M | Reduce -18.7% |
| GOOGL Alphabet Inc. Class A | 0.29% | 205,107 | $49.9M | Reduce -49.1% |
| URI United Rentals Inc. | 0.28% | 50,058 | $47.8M | Add +4.4% |
| LLY Eli Lilly & Co. | 0.26% | 59,329 | $45.3M | Reduce -14.3% |
| MTD Mettler-Toledo International | 0.24% | 33,016 | $40.5M | Reduce -80.7% |
| VCTR Victory Capital Holding - A | 0.23% | 600,000 | $38.9M | No change |
| AVGO Broadcom Inc. | 0.23% | 117,582 | $38.8M | Reduce -14.6% |
| AAMI Acadian Asset Management Inc. | 0.22% | 765,484 | $36.9M | Reduce -23.4% |
| DAR Darling Ingredients Inc. | 0.21% | 1,184,294 | $36.6M | Reduce -0.7% |
| LGND Ligand Pharmaceuticals | 0.21% | 200,208 | $35.5M | Reduce -23.1% |
| MKC McCormick & Co.-Non VTG SHRS | 0.19% | 491,130 | $32.9M | Reduce -3.6% |
| PNFP Pinnacle Financial Partners | 0.19% | 348,237 | $32.7M | Add +248.2% |
| RYN Rayonier Inc. | 0.18% | 1,159,058 | $30.8M | Reduce -53.3% |
| GILD Gilead Sciences Inc. | 0.18% | 276,671 | $30.7M | Reduce -6.1% |
| NFLX Netflix Inc. | 0.16% | 23,173 | $27.8M | New |
| PANW Palo Alto Networks Inc. | 0.16% | 134,797 | $27.4M | Reduce -6.1% |
| ROIV Roivant Sciences Ltd. | 0.16% | 1,800,000 | $27.2M | Reduce -10.0% |
| AMT American Tower Corp. | 0.15% | 134,031 | $25.8M | Add +19.2% |
| CSL Carlisle Cos Inc. | 0.15% | 77,668 | $25.5M | Reduce -4.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.14% | 215,505 | $24.7M | Reduce -6.2% |
| SEE Sealed Air Corp. | 0.14% | 691,491 | $24.4M | Add +1.6% |
| ULTA Ulta Beauty Inc. | 0.13% | 42,068 | $23.0M | Reduce -7.5% |
| JNJ Johnson & Johnson | 0.13% | 121,457 | $22.5M | Add +14.7% |
| DOLE Dole PLC | 0.13% | 1,675,545 | $22.5M | Add +9.8% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.13% | 23,182 | $22.1M | Add +197.6% |
| CMG Chipotle Mexican Grill Inc. | 0.12% | 543,604 | $21.3M | Add +14.4% |
| UBER Uber Technologies Inc. | 0.12% | 213,202 | $20.9M | Reduce -9.7% |
| CL Colgate-Palmolive Co. | 0.12% | 252,965 | $20.2M | Add +0.5% |
Portfolio Sells Q2 2025 → Q3 2025
| MTD Mettler-Toledo International | Reduce -80.7% | 0.24% | −0.92 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.64 |
| TXN Texas Instruments Inc. | Reduce -47.1% | 0.53% | −0.59 |
| V Visa Inc. Class A | Reduce -88.0% | 0.07% | −0.53 |
| TEL Te Connectivity PLC | Reduce -48.3% | 1.10% | −0.51 |
| ADI Analog Devices Inc. | Reduce -94.2% | 0.03% | −0.43 |
| DCI Donaldson Co. Inc. | Sold out | 0.00% | −0.33 |
| CNM Core & Main Inc. Class A | Reduce -19.2% | 0.81% | −0.30 |
| PNR Pentair PLC | Reduce -18.7% | 2.31% | −0.28 |
| ADSK Autodesk Inc. | Reduce -31.0% | 0.70% | −0.27 |
| ORCL Oracle Corp. | Reduce -37.1% | 0.99% | −0.21 |
| GNRC Generac Holdings Inc. | Reduce -41.6% | 0.45% | −0.20 |
| KLAC KLA Corp. | Reduce -26.9% | 1.58% | −0.19 |
| ZWS Zurn Elkay Water Solutions C | Reduce -36.6% | 0.86% | −0.18 |
| GPK Graphic Packaging Holding Co. | Reduce -57.5% | 0.11% | −0.17 |
| BSY Bentley Systems Inc. Class B | Reduce -17.8% | 0.58% | −0.15 |
| RYN Rayonier Inc. | Reduce -53.3% | 0.18% | −0.14 |
| EBAY eBay Inc. | Reduce -26.2% | 1.49% | −0.13 |
| CLH Clean Harbors Inc. | Reduce -29.2% | 0.34% | −0.13 |
| IEX Idex Corp. | Reduce -0.3% | 1.86% | −0.12 |
| GOOGL Alphabet Inc. Class A | Reduce -49.1% | 0.29% | −0.12 |
| AMAT Applied Materials Inc. | Reduce -19.4% | 1.29% | −0.11 |
| MRSH Marsh & McLennan Cos | Reduce -10.8% | 0.51% | −0.09 |
| PLD Prologis Inc. | Reduce -74.6% | 0.04% | −0.09 |
| RSG Republic Services Inc. | Reduce -4.2% | 0.87% | −0.09 |
| WAT Waters Corp. | Reduce -3.9% | 0.46% | −0.09 |
| CHE Chemed Corp. | Reduce -5.4% | 0.66% | −0.09 |
| HDB HDFC Bank Ltd.-ADR | Reduce -11.4% | 0.34% | −0.08 |
| AVTR Avantor Inc. | Sold out | 0.00% | −0.07 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.07 |
| VOYA Voya Financial Inc. | Reduce -46.4% | 0.08% | −0.06 |
| MRUS Merus NV | Sold out | 0.00% | −0.05 |
| DAR Darling Ingredients Inc. | Reduce -0.7% | 0.21% | −0.05 |
| LLY Eli Lilly & Co. | Reduce -14.3% | 0.26% | −0.05 |
| TT Trane Technologies PLC | Reduce -4.0% | 0.64% | −0.04 |
| INTC Intel Corp. | Reduce -95.4% | 0.00% | −0.04 |
| CDW CDW Corp. | Sold out | 0.00% | −0.04 |
| HHH Howard Hughes Holdings Inc. | Reduce -53.2% | 0.05% | −0.04 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.04 |
| INSP Inspire Medical Systems Inc. | Sold out | 0.00% | −0.04 |
| FITB Fifth Third Bancorp | Reduce -81.3% | 0.01% | −0.04 |
| BALL Ball Corp. | Reduce -17.0% | 0.12% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -18.7% | 0.31% | −0.03 |
| PGR Progressive Corp. | Reduce -3.6% | 0.33% | −0.03 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -3.6% | 0.19% | −0.03 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.03 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.03 |
| WTS Watts Water Technologies-A | Reduce -15.1% | 1.21% | −0.03 |
| CSL Carlisle Cos Inc. | Reduce -4.5% | 0.15% | −0.03 |
| MPWR Monolithic Power Systems Inc. | Reduce -24.4% | 0.70% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| APTV Aptiv PLC | Add +54.5% | 2.28% | +1.13 |
| ITRI Itron Inc. | Add +127.3% | 1.15% | +0.62 |
| VRT Vertiv Holdings Co. Class A | Add +94.4% | 0.81% | +0.46 |
| ZTS Zoetis Inc. | Add +43.9% | 1.45% | +0.40 |
| AOS Smith (a.o.) Corp. | Add +3.4% | 2.08% | +0.31 |
| CARR Carrier Global Corp. | Add +54.2% | 1.44% | +0.31 |
| MRVL Marvell Technology Inc. | Add +6.5% | 1.78% | +0.27 |
| TREX Trex Company Inc. | Add +93.0% | 0.58% | +0.27 |
| UNP Union Pacific Corp. | Add +26.7% | 1.06% | +0.26 |
| AAON Aaon Inc. | Add +56.0% | 0.49% | +0.25 |
| VLTO Veralto Corp. | Add +3.9% | 2.38% | +0.24 |
| LIN Linde PLC | Add +0.5% | 5.29% | +0.17 |
| NFLX Netflix Inc. | New | 0.16% | +0.16 |
| ISRG Intuitive Surgical Inc. | Add +60.5% | 0.56% | +0.15 |
| PNFP Pinnacle Financial Partners | Add +248.2% | 0.19% | +0.13 |
| MA Mastercard Inc. Class A | Add +8.4% | 1.15% | +0.13 |
| NOW ServiceNow Inc. | Add +32.6% | 0.63% | +0.11 |
| RNR Renaissancere Holdings Ltd. | Add +0.0% | 1.81% | +0.11 |
| BSX Boston Scientific Corp. | Add +19.1% | 0.98% | +0.10 |
| CTAS Cintas Corp. | Add +14.3% | 1.24% | +0.09 |
| GWW WW Grainger Inc. | Add +197.6% | 0.13% | +0.08 |
| CFR Cullen/Frost Bankers Inc. | Add +11.9% | 0.68% | +0.08 |
| URI United Rentals Inc. | Add +4.4% | 0.28% | +0.07 |
| TSM Taiwan Semiconductor-SP ADR | Add +109.4% | 0.10% | +0.06 |
| ADC Agree Realty Corp. | Add +150.0% | 0.08% | +0.05 |
| TPR Tapestry Inc. | New | 0.04% | +0.04 |
| AMD Advanced Micro Devices | Add +326.5% | 0.05% | +0.04 |
| JNJ Johnson & Johnson | Add +14.7% | 0.13% | +0.04 |
| TWLO Twilio Inc. Class A | New | 0.04% | +0.04 |
| ACA Arcosa Inc. | Add +74.7% | 0.08% | +0.04 |
| EBC Eastern Bankshares Inc. | Add +22.6% | 0.11% | +0.03 |
| STT State Street Corp. | Add +49.2% | 0.09% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +25.4% | 0.07% | +0.03 |
| WGS Genedx Holdings Corp. | New | 0.03% | +0.03 |
| WSM Williams-Sonoma Inc. | Add +164.4% | 0.04% | +0.03 |
| PCRX Pacira Biosciences Inc. | Add +27.7% | 0.09% | +0.03 |
| WRBY Warby Parker Inc. Class A | Add +28.3% | 0.06% | +0.02 |
| WK Workiva Inc. | Add +19.8% | 0.07% | +0.02 |
| SEE Sealed Air Corp. | Add +1.6% | 0.14% | +0.02 |
| EMR Emerson Electric Co. | Add +30.0% | 0.09% | +0.02 |
| FERG Ferguson Enterprises Inc. | Add +22.1% | 0.10% | +0.02 |
| MITK Mitek Systems Inc. | Add +40.6% | 0.07% | +0.02 |
| PLNT Planet Fitness Inc. Class A | Add +22.0% | 0.12% | +0.02 |
| PODD Insulet Corp. | New | 0.02% | +0.02 |
| ENOV Enovis Corp. | Add +47.5% | 0.06% | +0.02 |
| SIBN Si-Bone Inc. | Add +48.2% | 0.09% | +0.01 |
| PNC PNC Financial Services Group | Add +176.8% | 0.02% | +0.01 |
| IFF Intl Flavors & Fragrances | Add +189.4% | 0.02% | +0.01 |
| CRH CRH PLC | New | 0.01% | +0.01 |
| DOLE Dole PLC | Add +9.8% | 0.13% | +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 |