Railway Pension Investments Ltd
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 26, 2024), Railway Pension Investments Ltd reported 219 stock positions worth $8.4 billion. Its top holding was Microsoft (MSFT) at 2.9% of the portfolio, followed by Meta Platforms Class A (META, 2.2%) and ServiceNow (NOW, 2.1%). Compared with Q1 2024, it opened 27 new positions, sold out of 29, added to 38 and reduced 99. The biggest buy was a new position in Centerpoint Energy (CNP) and the biggest sale an exit from Taiwan Semiconductor-SP ADR (TSM).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001658020
- Portfolio Value
- $8.4B (Q2 2024)
- SEC Filing
- 0001658020-24-000008 ↗ filed Jul 26, 2024
Holdings Value
Holdings 219 stocks · $8.4B
| MSFT Microsoft Corp. | 2.88% | 538,700 | $240.8M | Reduce -12.5% |
| META Meta Platforms Inc. Class A | 2.17% | 360,820 | $181.9M | Reduce -15.9% |
| NOW ServiceNow Inc. | 2.07% | 219,800 | $172.9M | Reduce -17.6% |
| GOOGL Alphabet Inc. Class A | 1.89% | 868,420 | $158.2M | Reduce -9.0% |
| AMZN Amazon.com Inc. | 1.86% | 806,400 | $155.8M | Reduce -18.6% |
| MRK Merck & Co. Inc. | 1.85% | 1,248,910 | $154.6M | Reduce -16.7% |
| SPGI S&P Global Inc. | 1.70% | 319,700 | $142.6M | Reduce -15.7% |
| JNJ Johnson & Johnson | 1.69% | 967,136 | $141.4M | Add +17.0% |
| WMT Walmart Inc. | 1.61% | 1,992,897 | $134.9M | Reduce -10.4% |
| NEE Nextera Energy Inc. | 1.59% | 1,875,332 | $132.8M | Reduce -17.1% |
| ACN Accenture PLC Class A | 1.56% | 430,782 | $130.7M | Reduce -32.3% |
| EW Edwards Lifesciences Corp. | 1.56% | 1,413,180 | $130.5M | Reduce -16.7% |
| V Visa Inc. Class A | 1.51% | 481,639 | $126.4M | Reduce -14.6% |
| PG The Procter & Gamble Co. | 1.49% | 756,563 | $124.8M | Reduce -20.9% |
| PANW Palo Alto Networks Inc. | 1.48% | 366,553 | $124.3M | Reduce -26.7% |
| AVGO Broadcom Inc. | 1.47% | 76,839 | $123.4M | Reduce -43.5% |
| EQIX Equinix Inc. | 1.46% | 161,769 | $122.4M | Reduce -13.3% |
| TXN Texas Instruments Inc. | 1.37% | 588,086 | $114.4M | Reduce -21.9% |
| ABBV Abbvie Inc. | 1.33% | 649,968 | $111.5M | Reduce -27.9% |
| DHR Danaher Corp. | 1.32% | 442,599 | $110.6M | Reduce -10.1% |
| ELV Elevance Health Inc. | 1.31% | 202,627 | $109.8M | Reduce -19.1% |
| ORLY O'reilly Automotive Inc. | 1.28% | 101,221 | $106.9M | Reduce -12.2% |
| TMO Thermo Fisher Scientific Inc. | 1.27% | 192,970 | $106.7M | Reduce -12.0% |
| IDXX Idexx Laboratories Inc. | 1.25% | 214,330 | $104.4M | No change |
| GILD Gilead Sciences Inc. | 1.22% | 1,484,165 | $101.8M | Reduce -5.1% |
| CSCO Cisco Systems Inc. | 1.21% | 2,139,376 | $101.6M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 1.13% | 111,442 | $94.7M | No change |
| PEP Pepsico Inc. | 1.13% | 572,484 | $94.4M | Reduce -16.1% |
| MCK McKesson Corp. | 1.12% | 160,322 | $93.6M | Reduce -5.2% |
| CL Colgate-Palmolive Co. | 1.11% | 958,996 | $93.1M | Reduce -4.0% |
| LLY Eli Lilly & Co. | 1.09% | 100,352 | $90.9M | Reduce -42.4% |
| AZO AutoZone Inc. | 1.07% | 30,327 | $89.9M | Reduce -11.9% |
| ALGN Align Technology Inc. | 1.06% | 367,861 | $88.8M | No change |
| MO Altria Group Inc. | 1.05% | 1,926,500 | $87.8M | Reduce -6.2% |
| AAPL Apple Inc. | 1.04% | 413,752 | $87.1M | Reduce -24.0% |
| CEG Constellation Energy | 1.00% | 417,300 | $83.6M | No change |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.94% | 87,116 | $78.6M | Reduce -11.9% |
| FAST Fastenal Co. | 0.92% | 1,222,655 | $76.8M | Reduce -0.9% |
| CDNS Cadence Design SYS Inc. | 0.88% | 238,100 | $73.3M | Reduce -13.4% |
| KR Kroger Co. | 0.86% | 1,448,110 | $72.3M | Add +12.5% |
| KLAC KLA Corp. | 0.83% | 84,241 | $69.5M | Reduce -9.2% |
| DDOG Datadog Inc. Class A | 0.83% | 533,261 | $69.2M | Reduce -5.4% |
| BAH Booz Allen Hamilton Holdings | 0.81% | 437,800 | $67.4M | Reduce -5.6% |
| LNG Cheniere Energy Inc. | 0.80% | 381,800 | $66.8M | Add +2.2% |
| FCX Freeport-McMoran Inc. | 0.78% | 1,346,500 | $65.4M | No change |
| TECK Teck Resources Ltd.-CLS B | 0.76% | 1,335,600 | $64.0M | No change |
| CNP Centerpoint Energy Inc. | 0.76% | 2,058,045 | $63.8M | New |
| CRWD CrowdStrike Holdings Inc. Class A | 0.72% | 158,020 | $60.6M | Reduce -23.7% |
| CCJ Cameco Corp. | 0.72% | 1,222,300 | $60.1M | Add +11.4% |
| COR Cencora Inc. | 0.69% | 256,529 | $57.8M | Add +2.4% |
| CVX Chevron Corp. | 0.69% | 367,100 | $57.4M | New |
| EQT Eqt Corp. | 0.67% | 1,511,500 | $55.9M | Add +16.6% |
| AMAT Applied Materials Inc. | 0.66% | 233,968 | $55.2M | Reduce -1.0% |
| OTIS Otis Worldwide Corp. | 0.65% | 563,900 | $54.3M | Add +2.5% |
| HD Home Depot Inc. | 0.65% | 156,958 | $54.0M | Reduce -20.6% |
| UNH Unitedhealth Group Inc. | 0.63% | 104,356 | $53.1M | Reduce -60.7% |
| EOG EOG Resources Inc. | 0.61% | 405,300 | $51.0M | No change |
| IT Gartner Inc. | 0.59% | 110,578 | $49.7M | Reduce -9.1% |
| HPQ HP Inc. | 0.59% | 1,410,915 | $49.4M | Reduce -9.9% |
| GIS General Mills Inc. | 0.58% | 773,190 | $48.9M | Add +5.1% |
| BKNG Booking Holdings Inc. | 0.58% | 12,300 | $48.7M | Reduce -11.5% |
| CMS CMS Energy Corp. | 0.56% | 790,900 | $47.1M | New |
| LIN Linde PLC | 0.56% | 106,900 | $46.9M | Reduce -10.9% |
| FICO Fair Isaac Corp. | 0.54% | 30,200 | $45.0M | Reduce -22.4% |
| HOOD Robinhood Markets Inc. Class A | 0.53% | 1,937,274 | $44.0M | Reduce -19.1% |
| AMGN Amgen Inc. | 0.52% | 140,300 | $43.8M | Reduce -59.0% |
| HCA HCA Healthcare Inc. | 0.52% | 135,567 | $43.6M | Reduce -8.6% |
| PM Philip Morris International | 0.51% | 423,440 | $42.9M | Reduce -46.1% |
| MSI Motorola Solutions Inc. | 0.50% | 108,400 | $41.8M | Add +2.1% |
| CTAS Cintas Corp. | 0.49% | 58,974 | $41.3M | No change |
| ROL Rollins Inc. | 0.49% | 838,017 | $40.9M | No change |
| NTAP Netapp Inc. | 0.49% | 316,263 | $40.7M | Reduce -10.3% |
| CHD Church & Dwight Co. Inc. | 0.47% | 382,099 | $39.6M | Add +0.7% |
| WM Waste Management Inc. | 0.47% | 183,276 | $39.1M | No change |
| NUE Nucor Corp. | 0.46% | 244,652 | $38.7M | Reduce -12.1% |
| CAT Caterpillar Inc. | 0.46% | 115,900 | $38.6M | Add +4.4% |
| RSG Republic Services Inc. | 0.46% | 197,521 | $38.4M | No change |
| DASH DoorDash Inc. Class A | 0.45% | 344,212 | $37.4M | Reduce -7.4% |
| CTSH Cognizant Tech Solutions-A | 0.45% | 548,480 | $37.3M | Reduce -14.0% |
| NVR NVR Inc. | 0.43% | 4,794 | $36.4M | Reduce -28.3% |
| SNA Snap-on Inc. | 0.42% | 135,024 | $35.3M | Reduce -31.5% |
| KMB Kimberly-Clark Corp. | 0.41% | 250,540 | $34.6M | Reduce -2.1% |
| FTNT Fortinet Inc. | 0.41% | 572,605 | $34.5M | Reduce -5.6% |
| VRTX Vertex Pharmaceuticals Inc. | 0.41% | 73,100 | $34.3M | Reduce -26.7% |
| NDAQ Nasdaq Inc. | 0.41% | 567,900 | $34.2M | Add +49.4% |
| CVS CVS Health Corp. | 0.40% | 573,446 | $33.9M | Add +5.3% |
| LULU Lululemon Athletica Inc. | 0.38% | 105,700 | $31.6M | Add +39.5% |
| CHKP Check Point Software Tech | 0.37% | 186,929 | $30.8M | No change |
| VLTO Veralto Corp. | 0.37% | 321,099 | $30.7M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.36% | 273,000 | $30.1M | Reduce -23.9% |
| CMCSA Comcast Corp. Class A | 0.36% | 767,400 | $30.1M | Reduce -2.9% |
| NTNX Nutanix Inc. Class A | 0.35% | 511,641 | $29.1M | No change |
| BILL Bill Holdings Inc. | 0.35% | 549,946 | $28.9M | Add +51.1% |
| STLD Steel Dynamics Inc. | 0.35% | 223,136 | $28.9M | Reduce -14.4% |
| VZ Verizon Communications Inc. | 0.33% | 668,900 | $27.6M | No change |
| CGNX Cognex Corp. | 0.32% | 581,600 | $27.2M | New |
| REGN Regeneron Pharmaceuticals | 0.30% | 24,000 | $25.2M | Reduce -14.6% |
| ETN Eaton Corp. PLC | 0.30% | 80,200 | $25.1M | Reduce -10.9% |
| JPM JPMorgan Chase & Co. | 0.30% | 122,600 | $24.8M | Add +1.7% |
| OC Owens Corning | 0.30% | 142,500 | $24.8M | Reduce -33.4% |
Portfolio Sells Q1 2024 → Q2 2024
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −1.99 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.85 |
| BMY Bristol-Myers Squibb Co. | Reduce -80.2% | 0.16% | −0.70 |
| UNH Unitedhealth Group Inc. | Reduce -60.7% | 0.63% | −0.64 |
| MOH Molina Healthcare Inc. | Reduce -79.0% | 0.15% | −0.64 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.63 |
| ACN Accenture PLC Class A | Reduce -32.3% | 1.56% | −0.58 |
| RHI Robert Half Inc. | Reduce -69.2% | 0.20% | −0.46 |
| AMGN Amgen Inc. | Reduce -59.0% | 0.52% | −0.42 |
| EXPD Expeditors Intl Wash Inc. | Reduce -79.8% | 0.12% | −0.36 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.36 |
| HUM Humana Inc. | Sold out | 0.00% | −0.30 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.29 |
| AVGO Broadcom Inc. | Reduce -43.5% | 1.47% | −0.28 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.27 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.27 |
| ABBV Abbvie Inc. | Reduce -27.9% | 1.33% | −0.26 |
| PHM Pultegroup Inc. | Reduce -64.1% | 0.18% | −0.26 |
| MMM 3M Co. | Sold out | 0.00% | −0.24 |
| LLY Eli Lilly & Co. | Reduce -42.4% | 1.09% | −0.23 |
| MPC Marathon Petroleum Corp. | Reduce -54.3% | 0.21% | −0.22 |
| SJM The JM Smucker Co. | Reduce -69.5% | 0.10% | −0.22 |
| BLDR Builders Firstsource Inc. | Reduce -74.0% | 0.05% | −0.20 |
| HSIC Henry Schein Inc. | Sold out | 0.00% | −0.20 |
| APA Apa Corp. | Sold out | 0.00% | −0.19 |
| PM Philip Morris International | Reduce -46.1% | 0.51% | −0.19 |
| HSY The Hershey Co. | Reduce -49.7% | 0.25% | −0.18 |
| DGX Quest Diagnostics Inc. | Reduce -79.2% | 0.06% | −0.17 |
| MDLZ Mondelez International Inc. Class A | Reduce -47.5% | 0.24% | −0.16 |
| RS Reliance Inc. | Reduce -79.6% | 0.04% | −0.16 |
| SNA Snap-on Inc. | Reduce -31.5% | 0.42% | −0.15 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −0.14 |
| SEDG Solaredge Technologies Inc. | Sold out | 0.00% | −0.14 |
| IBM Intl Business Machines Corp. | Reduce -60.3% | 0.10% | −0.13 |
| DBX Dropbox Inc. Class A | Sold out | 0.00% | −0.12 |
| CPB The Campbell's Company | Reduce -83.9% | 0.03% | −0.11 |
| HUBB Hubbell Inc. | Reduce -76.2% | 0.04% | −0.11 |
| CLX Clorox Company | Sold out | 0.00% | −0.10 |
| HD Home Depot Inc. | Reduce -20.6% | 0.65% | −0.09 |
| NVR NVR Inc. | Reduce -28.3% | 0.43% | −0.09 |
| CAH Cardinal Health Inc. | Reduce -41.3% | 0.14% | −0.08 |
| FOXA Fox Corp. Class A | Reduce -47.4% | 0.20% | −0.08 |
| ADP Automatic Data Processing | Reduce -40.4% | 0.19% | −0.08 |
| DOCU Docusign Inc. | Sold out | 0.00% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -16.7% | 1.85% | −0.08 |
| NUE Nucor Corp. | Reduce -12.1% | 0.46% | −0.07 |
| MAS Masco Corp. | Reduce -39.7% | 0.11% | −0.06 |
| DHI D.R. Horton Inc. | Reduce -64.7% | 0.03% | −0.05 |
| LOW Lowe's Cos Inc. | Reduce -20.1% | 0.29% | −0.05 |
| OC Owens Corning | Reduce -33.4% | 0.30% | −0.05 |
Portfolio Buys Q1 2024 → Q2 2024
| CNP Centerpoint Energy Inc. | New | 0.76% | +0.76 |
| CVX Chevron Corp. | New | 0.69% | +0.69 |
| CMS CMS Energy Corp. | New | 0.56% | +0.56 |
| JNJ Johnson & Johnson | Add +17.0% | 1.69% | +0.42 |
| CGNX Cognex Corp. | New | 0.32% | +0.32 |
| PTC PTC Inc. | New | 0.29% | +0.29 |
| CCJ Cameco Corp. | Add +11.4% | 0.72% | +0.26 |
| UTHR United Therapeutics Corp. | Add +582.5% | 0.25% | +0.23 |
| LNG Cheniere Energy Inc. | Add +2.2% | 0.80% | +0.21 |
| JBL Jabil Inc. | New | 0.21% | +0.21 |
| EQT Eqt Corp. | Add +16.6% | 0.67% | +0.20 |
| NDAQ Nasdaq Inc. | Add +49.4% | 0.41% | +0.18 |
| NVT Nvent Electric PLC | New | 0.15% | +0.15 |
| KR Kroger Co. | Add +12.5% | 0.86% | +0.15 |
| BALL Ball Corp. | New | 0.14% | +0.14 |
| GH Guardant Health Inc. | Add +63.8% | 0.21% | +0.14 |
| MSI Motorola Solutions Inc. | Add +2.1% | 0.50% | +0.13 |
| TT Trane Technologies PLC | New | 0.13% | +0.13 |
| TAP Molson Coors Beverage Co. Class B | New | 0.13% | +0.13 |
| OWL Blue Owl Capital Inc. | New | 0.12% | +0.12 |
| SOLV Solventum Corp. | Add +304.4% | 0.15% | +0.12 |
| IRM Iron Mountain Inc. | Add +188.3% | 0.16% | +0.12 |
| OTIS Otis Worldwide Corp. | Add +2.5% | 0.65% | +0.12 |
| BILL Bill Holdings Inc. | Add +51.1% | 0.35% | +0.10 |
| COR Cencora Inc. | Add +2.4% | 0.69% | +0.10 |
| LULU Lululemon Athletica Inc. | Add +39.5% | 0.38% | +0.09 |
| CHD Church & Dwight Co. Inc. | Add +0.7% | 0.47% | +0.09 |
| GIS General Mills Inc. | Add +5.1% | 0.58% | +0.08 |
| INTU Intuit Inc. | New | 0.08% | +0.08 |
| ITW Illinois Tool Works | Add +37.2% | 0.23% | +0.08 |
| OKTA Okta Inc. | Add +27.7% | 0.25% | +0.07 |
| WSM Williams-Sonoma Inc. | New | 0.07% | +0.07 |
| DPZ Domino's Pizza Inc. | Add +6.1% | 0.26% | +0.07 |
| CAT Caterpillar Inc. | Add +4.4% | 0.46% | +0.07 |
| TECH Bio-Techne Corp. | Add +19.2% | 0.19% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +1.7% | 0.30% | +0.06 |
| AMP Ameriprise Financial Inc. | Add +75.8% | 0.11% | +0.06 |
| ROP Roper Technologies Inc. | Add +54.7% | 0.11% | +0.05 |
| LEN Lennar Corp. Class A | Add +82.2% | 0.11% | +0.05 |
| APH Amphenol Corp. Class A | Add +20.7% | 0.11% | +0.05 |
| RPM RPM International Inc. | Add +51.2% | 0.10% | +0.04 |
| PGR Progressive Corp. | New | 0.04% | +0.04 |
| CBRE CBRE Group Inc. Class A | New | 0.04% | +0.04 |
| GEN Gen Digital Inc. | New | 0.03% | +0.03 |
| CB Chubb Ltd. | Add +5.7% | 0.14% | +0.03 |
| VRSK Verisk Analytics Inc. | New | 0.03% | +0.03 |
| FFIV F5 Inc. | New | 0.03% | +0.03 |
| PDD PDD Holdings Inc. | Add +34.0% | 0.05% | +0.02 |
| AFL Aflac Inc. | Add +3.8% | 0.10% | +0.02 |
| VRSN Verisign Inc. | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 102 | $8.0B | NVDA, AAPL, GOOGL, LRCX, AVGO |
| Q1 2026 | 103 | $7.0B | MSFT, GOOGL, NVDA, LNG, AMZN |
| Q4 2025 | 106 | $8.5B | MSFT, GOOGL, NVDA, AVGO, TMO |
| Q3 2025 | 117 | $7.4B | MSFT, GOOGL, V, ABBV, AMZN |
| Q2 2025 | 210 | $7.1B | MSFT, GILD, V, CCJ, CEG |
| Q1 2025 | 212 | $7.0B | GILD, V, ABBV, MSFT, AAPL |
| Q4 2024 | 208 | $7.5B | MSFT, NOW, AVGO, WMT, GOOGL |
| Q3 2024 | 215 | $8.3B | MSFT, JNJ, NOW, WMT, ABBV |
| Q2 2024 | 219 | $8.4B | MSFT, META, NOW, GOOGL, AMZN |
| Q1 2024 | 220 | $10.3B | MSFT, ACN, META, TSM, NOW |