Impax Asset Management Group plc
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Impax Asset Management Group plc reported 279 stock positions worth $16.0 billion. Its top holding was Linde (LIN) at 4.9% of the portfolio, followed by Microsoft (MSFT, 4.8%) and Xylem (XYL, 4.2%). Compared with Q3 2025, it opened 19 new positions, sold out of 15, added to 65 and reduced 119. The biggest buy was a new position in Tetra Tech (TTEK) and the biggest sale Oracle (ORCL, shares −72%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001749768
- Portfolio Value
- $16.0B (Q4 2025)
- SEC Filing
- 0001749768-26-000001 ↗ filed Jan 29, 2026
Holdings Value
Holdings 279 stocks · $16.0B
| LIN Linde PLC | 4.91% | 1,841,939 | $785.4M | Reduce -3.5% |
| MSFT Microsoft Corp. | 4.82% | 1,591,543 | $769.7M | Add +2.1% |
| XYL Xylem Inc. | 4.16% | 4,881,208 | $664.7M | Reduce -8.2% |
| NVDA Nvidia Corp. | 3.54% | 3,034,256 | $565.9M | Reduce -4.6% |
| HUBB Hubbell Inc. | 2.28% | 820,499 | $364.4M | Reduce -12.4% |
| A Agilent Technologies Inc. | 2.21% | 2,595,597 | $353.2M | Reduce -12.4% |
| PNR Pentair PLC | 2.16% | 3,311,159 | $344.8M | Reduce -7.6% |
| APTV Aptiv PLC | 2.03% | 4,269,536 | $324.9M | Reduce -5.6% |
| VLTO Veralto Corp. | 1.96% | 3,145,370 | $313.8M | Reduce -18.1% |
| AWK American Water Works Co. Inc. | 1.95% | 2,386,873 | $311.5M | Add +38.0% |
| AOS Smith (a.o.) Corp. | 1.95% | 4,649,544 | $311.0M | Reduce -4.1% |
| IEX Idex Corp. | 1.90% | 1,708,816 | $304.1M | Reduce -12.8% |
| WMS Advanced Drainage Systems Inc. | 1.87% | 2,066,723 | $299.3M | Reduce -17.3% |
| EBAY eBay Inc. | 1.71% | 3,134,733 | $273.0M | Add +11.4% |
| RNR Renaissancere Holdings Ltd. | 1.71% | 969,868 | $272.7M | Reduce -20.5% |
| MRVL Marvell Technology Inc. | 1.67% | 3,142,554 | $267.1M | Reduce -13.4% |
| KLAC KLA Corp. | 1.62% | 212,473 | $258.2M | Reduce -15.8% |
| CTAS Cintas Corp. | 1.58% | 1,346,262 | $253.2M | Add +29.5% |
| WM Waste Management Inc. | 1.39% | 1,009,080 | $221.7M | Reduce -9.7% |
| AMAT Applied Materials Inc. | 1.37% | 854,529 | $219.6M | Reduce -20.9% |
| SNPS Synopsys Inc. | 1.30% | 442,763 | $208.0M | Reduce -28.8% |
| ZTS Zoetis Inc. | 1.24% | 1,577,364 | $198.5M | Reduce -6.9% |
| VRT Vertiv Holdings Co. Class A | 1.22% | 1,207,028 | $195.6M | Add +31.5% |
| ECL Ecolab Inc. | 1.19% | 725,432 | $190.4M | Add +16.9% |
| MA Mastercard Inc. Class A | 1.19% | 332,450 | $189.8M | Reduce -3.9% |
| CARR Carrier Global Corp. | 1.17% | 3,548,911 | $187.5M | Reduce -14.4% |
| WTS Watts Water Technologies-A | 1.12% | 647,873 | $178.8M | Reduce -13.1% |
| TEL Te Connectivity PLC | 1.09% | 764,995 | $174.0M | Reduce -10.7% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 1.08% | 7,236,477 | $172.6M | Reduce -11.8% |
| MAS Masco Corp. | 1.08% | 2,710,763 | $172.0M | Add +9.2% |
| CDNS Cadence Design SYS Inc. | 1.05% | 538,545 | $168.3M | Add +20.7% |
| BSX Boston Scientific Corp. | 1.03% | 1,723,927 | $164.4M | Reduce -0.2% |
| UNP Union Pacific Corp. | 1.00% | 689,356 | $159.5M | Reduce -10.3% |
| CNM Core & Main Inc. Class A | 0.93% | 2,872,595 | $149.3M | Add +10.8% |
| ZWS Zurn Elkay Water Solutions C | 0.85% | 2,921,884 | $135.8M | Reduce -6.6% |
| APH Amphenol Corp. Class A | 0.83% | 982,800 | $132.8M | Reduce -11.9% |
| ACM Aecom | 0.83% | 1,392,092 | $132.7M | Reduce -0.7% |
| ITRI Itron Inc. | 0.79% | 1,355,148 | $125.8M | Reduce -14.7% |
| RSG Republic Services Inc. | 0.77% | 579,314 | $122.8M | Reduce -10.6% |
| TRMB Trimble Inc. | 0.75% | 1,530,754 | $119.9M | Reduce -19.9% |
| CFR Cullen/Frost Bankers Inc. | 0.73% | 915,931 | $116.0M | Reduce -0.5% |
| LFUS Littelfuse Inc. | 0.72% | 454,003 | $114.8M | Reduce -0.4% |
| SITE Siteone Landscape Supply Inc. | 0.71% | 915,917 | $114.1M | Reduce -0.5% |
| ISRG Intuitive Surgical Inc. | 0.71% | 199,525 | $113.0M | Reduce -6.7% |
| TTEK Tetra Tech Inc. | 0.67% | 3,208,190 | $107.6M | New |
| FELE Franklin Electric Co. Inc. | 0.67% | 1,121,191 | $107.1M | No change |
| AAON Aaon Inc. | 0.67% | 1,403,648 | $107.0M | Add +53.2% |
| TYL Tyler Technologies Inc. | 0.67% | 235,136 | $106.7M | New |
| VMI Valmont Industries | 0.66% | 260,738 | $104.9M | Reduce -12.9% |
| CHE Chemed Corp. | 0.65% | 244,242 | $104.5M | Reduce -3.5% |
| DHR Danaher Corp. | 0.65% | 454,388 | $104.0M | Reduce -10.2% |
| ADSK Autodesk Inc. | 0.65% | 349,957 | $103.6M | Reduce -7.5% |
| CFG Citizens Financial Group | 0.63% | 1,729,587 | $101.0M | Add +411.6% |
| PTC PTC Inc. | 0.63% | 579,317 | $100.9M | Reduce -20.6% |
| AAPL Apple Inc. | 0.63% | 368,237 | $100.1M | Reduce -1.5% |
| TT Trane Technologies PLC | 0.62% | 252,715 | $98.4M | Reduce -3.4% |
| MPWR Monolithic Power Systems Inc. | 0.60% | 106,238 | $96.3M | Reduce -19.1% |
| NOW ServiceNow Inc. | 0.57% | 594,210 | $91.0M | Add +1.4% |
| AMZN Amazon.com Inc. | 0.56% | 387,433 | $89.4M | Add +6.9% |
| WAT Waters Corp. | 0.55% | 232,249 | $88.2M | Reduce -11.9% |
| TMO Thermo Fisher Scientific Inc. | 0.54% | 149,132 | $86.4M | Reduce -0.6% |
| WCN Waste Connections Inc. | 0.53% | 481,705 | $84.5M | Reduce -26.3% |
| BSY Bentley Systems Inc. Class B | 0.52% | 2,178,670 | $83.1M | Add +12.1% |
| MWA Mueller Water Products Inc. Class A | 0.50% | 3,364,757 | $80.1M | No change |
| MRSH Marsh & McLennan Cos | 0.50% | 427,624 | $79.3M | Reduce -0.6% |
| GOOGL Alphabet Inc. Class A | 0.48% | 246,611 | $77.2M | Add +20.2% |
| ORA Ormat Technologies Inc. | 0.47% | 676,741 | $74.8M | Reduce -61.6% |
| TXN Texas Instruments Inc. | 0.47% | 430,198 | $74.6M | Reduce -13.5% |
| RGEN Repligen Corp. | 0.42% | 413,384 | $67.7M | Reduce -41.2% |
| GNRC Generac Holdings Inc. | 0.39% | 460,242 | $62.8M | Reduce -0.6% |
| TREX Trex Company Inc. | 0.39% | 1,783,815 | $62.6M | Reduce -7.8% |
| HDB HDFC Bank Ltd.-ADR | 0.39% | 1,695,445 | $62.0M | Add +0.5% |
| NVT Nvent Electric PLC | 0.35% | 553,268 | $56.4M | Reduce -35.5% |
| LLY Eli Lilly & Co. | 0.31% | 45,731 | $49.1M | Reduce -22.9% |
| PGR Progressive Corp. | 0.30% | 213,530 | $48.6M | Reduce -6.8% |
| JPM JPMorgan Chase & Co. | 0.30% | 146,587 | $47.2M | Reduce -11.9% |
| WAB Wabtec Corp. | 0.28% | 206,389 | $44.1M | Add +2965.3% |
| MTD Mettler-Toledo International | 0.27% | 31,236 | $43.5M | Reduce -5.4% |
| AVGO Broadcom Inc. | 0.26% | 120,936 | $41.9M | Add +2.9% |
| DAR Darling Ingredients Inc. | 0.26% | 1,147,396 | $41.3M | Reduce -3.1% |
| PNFP Pinnacle Financial Partners | 0.26% | 421,413 | $41.3M | Add +21.0% |
| VCTR Victory Capital Holding - A | 0.26% | 650,000 | $41.0M | Add +8.3% |
| AAMI Acadian Asset Management Inc. | 0.25% | 845,451 | $39.7M | Add +10.4% |
| URI United Rentals Inc. | 0.24% | 47,751 | $38.6M | Reduce -4.6% |
| GILD Gilead Sciences Inc. | 0.23% | 296,565 | $36.4M | Add +7.2% |
| CLH Clean Harbors Inc. | 0.22% | 148,605 | $34.8M | Reduce -41.1% |
| ORCL Oracle Corp. | 0.21% | 170,754 | $33.3M | Reduce -71.6% |
| MKC McCormick & Co.-Non VTG SHRS | 0.20% | 475,770 | $32.4M | Reduce -3.1% |
| LGND Ligand Pharmaceuticals | 0.20% | 165,208 | $31.2M | Reduce -17.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 95,768 | $29.1M | Add +51.0% |
| CL Colgate-Palmolive Co. | 0.16% | 326,779 | $25.8M | Add +29.2% |
| TSLA Tesla Inc. | 0.16% | 56,756 | $25.5M | New |
| QXO Qxo Inc. | 0.15% | 1,256,785 | $24.2M | New |
| ULTA Ulta Beauty Inc. | 0.15% | 39,795 | $24.1M | Reduce -5.4% |
| RYN Rayonier Inc. | 0.15% | 1,097,153 | $23.8M | Reduce -5.3% |
| DOLE Dole PLC | 0.15% | 1,584,474 | $23.8M | Reduce -5.4% |
| SIBN Si-Bone Inc. | 0.15% | 1,200,010 | $23.7M | Add +17.1% |
| EBC Eastern Bankshares Inc. | 0.15% | 1,275,000 | $23.5M | Add +27.5% |
| GWW WW Grainger Inc. | 0.15% | 22,989 | $23.2M | Reduce -0.8% |
| UBER Uber Technologies Inc. | 0.14% | 274,960 | $22.5M | Add +29.0% |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -71.6% | 0.21% | −0.78 |
| ORA Ormat Technologies Inc. | Reduce -61.6% | 0.47% | −0.51 |
| SNPS Synopsys Inc. | Reduce -28.8% | 1.30% | −0.48 |
| VLTO Veralto Corp. | Reduce -18.1% | 1.96% | −0.42 |
| XYL Xylem Inc. | Reduce -8.2% | 4.16% | −0.41 |
| LIN Linde PLC | Reduce -3.5% | 4.91% | −0.38 |
| ITRI Itron Inc. | Reduce -14.7% | 0.79% | −0.36 |
| CARR Carrier Global Corp. | Reduce -14.4% | 1.17% | −0.27 |
| APTV Aptiv PLC | Reduce -5.6% | 2.03% | −0.24 |
| ACM Aecom | Reduce -0.7% | 0.83% | −0.24 |
| PTC PTC Inc. | Reduce -20.6% | 0.63% | −0.22 |
| ZTS Zoetis Inc. | Reduce -6.9% | 1.24% | −0.20 |
| TREX Trex Company Inc. | Reduce -7.8% | 0.39% | −0.19 |
| PNR Pentair PLC | Reduce -7.6% | 2.16% | −0.16 |
| TRMB Trimble Inc. | Reduce -19.9% | 0.75% | −0.15 |
| CSL Carlisle Cos Inc. | Sold out | 0.00% | −0.15 |
| WMS Advanced Drainage Systems Inc. | Reduce -17.3% | 1.87% | −0.15 |
| NVT Nvent Electric PLC | Reduce -35.5% | 0.35% | −0.13 |
| AOS Smith (a.o.) Corp. | Reduce -4.1% | 1.95% | −0.13 |
| WCN Waste Connections Inc. | Reduce -26.3% | 0.53% | −0.13 |
| RGEN Repligen Corp. | Reduce -41.2% | 0.42% | −0.12 |
| CLH Clean Harbors Inc. | Reduce -41.1% | 0.22% | −0.12 |
| SBS Cia Saneamento Basico DE-ADR | Reduce -11.8% | 1.08% | −0.11 |
| MRVL Marvell Technology Inc. | Reduce -13.4% | 1.67% | −0.10 |
| RNR Renaissancere Holdings Ltd. | Reduce -20.5% | 1.71% | −0.10 |
| RSG Republic Services Inc. | Reduce -10.6% | 0.77% | −0.10 |
| MPWR Monolithic Power Systems Inc. | Reduce -19.1% | 0.60% | −0.10 |
| DIS The Walt Disney Co. | Reduce -68.1% | 0.05% | −0.10 |
| WTS Watts Water Technologies-A | Reduce -13.1% | 1.12% | −0.09 |
| ROIV Roivant Sciences Ltd. | Reduce -69.4% | 0.07% | −0.08 |
| PANW Palo Alto Networks Inc. | Reduce -46.8% | 0.08% | −0.08 |
| HUBB Hubbell Inc. | Reduce -12.4% | 2.28% | −0.07 |
| TXN Texas Instruments Inc. | Reduce -13.5% | 0.47% | −0.07 |
| UNP Union Pacific Corp. | Reduce -10.3% | 1.00% | −0.06 |
| NFLX Netflix Inc. | Reduce -24.1% | 0.10% | −0.06 |
| GNRC Generac Holdings Inc. | Reduce -0.6% | 0.39% | −0.06 |
| SEE Sealed Air Corp. | Reduce -50.3% | 0.09% | −0.05 |
| ADSK Autodesk Inc. | Reduce -7.5% | 0.65% | −0.05 |
| WM Waste Management Inc. | Reduce -9.7% | 1.39% | −0.05 |
| CIEN Ciena Corp. | Reduce -71.7% | 0.05% | −0.05 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.04 |
| SMPL The Simply Good Foods Co. | Sold out | 0.00% | −0.04 |
| URI United Rentals Inc. | Reduce -4.6% | 0.24% | −0.04 |
| RYN Rayonier Inc. | Reduce -5.3% | 0.15% | −0.03 |
| TT Trane Technologies PLC | Reduce -3.4% | 0.62% | −0.03 |
| NX Quanex Building Products | Sold out | 0.00% | −0.03 |
| PGR Progressive Corp. | Reduce -6.8% | 0.30% | −0.03 |
| HHH Howard Hughes Holdings Inc. | Reduce -49.4% | 0.03% | −0.02 |
| GPK Graphic Packaging Holding Co. | Reduce -3.8% | 0.09% | −0.02 |
| AGCO Agco Corp. | Reduce -26.9% | 0.07% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| TTEK Tetra Tech Inc. | New | 0.67% | +0.67 |
| TYL Tyler Technologies Inc. | New | 0.67% | +0.67 |
| AWK American Water Works Co. Inc. | Add +38.0% | 1.95% | +0.54 |
| CFG Citizens Financial Group | Add +411.6% | 0.63% | +0.53 |
| VRT Vertiv Holdings Co. Class A | Add +31.5% | 1.22% | +0.41 |
| CTAS Cintas Corp. | Add +29.5% | 1.58% | +0.34 |
| WAB Wabtec Corp. | Add +2965.3% | 0.28% | +0.27 |
| EBAY eBay Inc. | Add +11.4% | 1.71% | +0.22 |
| ECL Ecolab Inc. | Add +16.9% | 1.19% | +0.20 |
| GOOGL Alphabet Inc. Class A | Add +20.2% | 0.48% | +0.19 |
| AAON Aaon Inc. | Add +53.2% | 0.67% | +0.18 |
| TSLA Tesla Inc. | New | 0.16% | +0.16 |
| QXO Qxo Inc. | New | 0.15% | +0.15 |
| CDNS Cadence Design SYS Inc. | Add +20.7% | 1.05% | +0.14 |
| CNM Core & Main Inc. Class A | Add +10.8% | 0.93% | +0.12 |
| MSFT Microsoft Corp. | Add +2.1% | 4.82% | +0.11 |
| AMZN Amazon.com Inc. | Add +6.9% | 0.56% | +0.10 |
| DASH DoorDash Inc. Class A | New | 0.08% | +0.08 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 0.08% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +51.0% | 0.18% | +0.08 |
| TECH Bio-Techne Corp. | New | 0.07% | +0.07 |
| PNFP Pinnacle Financial Partners | Add +21.0% | 0.26% | +0.07 |
| SIBN Si-Bone Inc. | Add +17.1% | 0.15% | +0.06 |
| GEV GE Vernova Inc. | New | 0.06% | +0.06 |
| RVTY Revvity Inc. | New | 0.06% | +0.06 |
| MAS Masco Corp. | Add +9.2% | 1.08% | +0.06 |
| GOOG Alphabet Inc. Class C | Add +23.8% | 0.13% | +0.05 |
| HDB HDFC Bank Ltd.-ADR | Add +0.5% | 0.39% | +0.05 |
| GILD Gilead Sciences Inc. | Add +7.2% | 0.23% | +0.05 |
| ABCB Ameris Bancorp | New | 0.05% | +0.05 |
| CL Colgate-Palmolive Co. | Add +29.2% | 0.16% | +0.04 |
| STX Seagate Technology Holdings | New | 0.04% | +0.04 |
| EBC Eastern Bankshares Inc. | Add +27.5% | 0.15% | +0.04 |
| LRCX Lam Research Corp. | Add +253.1% | 0.05% | +0.04 |
| AVGO Broadcom Inc. | Add +2.9% | 0.26% | +0.04 |
| AAMI Acadian Asset Management Inc. | Add +10.4% | 0.25% | +0.03 |
| MU Micron Technology Inc. | Add +181.3% | 0.04% | +0.03 |
| PCRX Pacira Biosciences Inc. | Add +25.0% | 0.12% | +0.03 |
| FRPT Freshpet Inc. | Add +100.0% | 0.05% | +0.03 |
| VCTR Victory Capital Holding - A | Add +8.3% | 0.26% | +0.03 |
| ACA Arcosa Inc. | Add +10.6% | 0.10% | +0.03 |
| VITL Vital Farms Inc. | Add +119.4% | 0.05% | +0.02 |
| C Citigroup Inc. | Add +0.8% | 0.10% | +0.02 |
| UBER Uber Technologies Inc. | Add +29.0% | 0.14% | +0.02 |
| GTES Gates Industrial Corp. UK Ltd. | Add +48.8% | 0.06% | +0.02 |
| WGS Genedx Holdings Corp. | Add +20.0% | 0.05% | +0.02 |
| MITK Mitek Systems Inc. | Add +8.4% | 0.09% | +0.02 |
| LYFT LYFT Inc. Class A | Add +29.2% | 0.09% | +0.02 |
| ENOV Enovis Corp. | Add +36.5% | 0.07% | +0.02 |
| CAH Cardinal Health Inc. | Add +0.5% | 0.05% | +0.02 |
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 |