Railway Pension Investments Ltd
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Railway Pension Investments Ltd reported 215 stock positions worth $8.3 billion. Its top holding was Microsoft (MSFT) at 2.1% of the portfolio, followed by Johnson & Johnson (JNJ, 1.9%) and ServiceNow (NOW, 1.8%). Compared with Q2 2024, it opened 13 new positions, sold out of 17, added to 60 and reduced 62. The biggest buy was Apple (AAPL, shares +35%) and the biggest sale an exit from Eli Lilly (LLY).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001658020
- Portfolio Value
- $8.3B (Q3 2024)
- SEC Filing
- 0001658020-24-000015 ↗ filed Nov 13, 2024
Holdings Value
Holdings 215 stocks · $8.3B
| MSFT Microsoft Corp. | 2.14% | 414,300 | $178.3M | Reduce -23.1% |
| JNJ Johnson & Johnson | 1.87% | 963,936 | $156.2M | Reduce -0.3% |
| NOW ServiceNow Inc. | 1.83% | 171,000 | $152.9M | Reduce -22.2% |
| WMT Walmart Inc. | 1.70% | 1,760,597 | $142.2M | Reduce -11.7% |
| ABBV Abbvie Inc. | 1.66% | 700,768 | $138.4M | Add +7.8% |
| META Meta Platforms Inc. Class A | 1.64% | 239,220 | $136.9M | Reduce -33.7% |
| ACN Accenture PLC Class A | 1.62% | 382,682 | $135.3M | Reduce -11.2% |
| AVGO Broadcom Inc. | 1.58% | 764,690 | $131.9M | Reduce -0.5% |
| AAPL Apple Inc. | 1.56% | 559,852 | $130.4M | Add +35.3% |
| NEE Nextera Energy Inc. | 1.56% | 1,542,432 | $130.4M | Reduce -17.8% |
| SPGI S&P Global Inc. | 1.56% | 252,300 | $130.3M | Reduce -21.1% |
| GOOGL Alphabet Inc. Class A | 1.53% | 769,820 | $127.7M | Reduce -11.3% |
| PG The Procter & Gamble Co. | 1.45% | 696,363 | $120.6M | Reduce -8.0% |
| GILD Gilead Sciences Inc. | 1.44% | 1,434,165 | $120.2M | Reduce -3.4% |
| EQIX Equinix Inc. | 1.43% | 134,869 | $119.7M | Reduce -16.6% |
| AMZN Amazon.com Inc. | 1.43% | 638,300 | $118.9M | Reduce -20.9% |
| CSCO Cisco Systems Inc. | 1.42% | 2,220,576 | $118.2M | Add +3.8% |
| CEG Constellation Energy | 1.41% | 451,800 | $117.5M | Add +8.3% |
| V Visa Inc. Class A | 1.27% | 386,039 | $106.1M | Reduce -19.9% |
| PANW Palo Alto Networks Inc. | 1.26% | 307,853 | $105.2M | Reduce -16.0% |
| MRK Merck & Co. Inc. | 1.26% | 922,415 | $104.7M | Reduce -26.1% |
| ORLY O'reilly Automotive Inc. | 1.25% | 90,821 | $104.6M | Reduce -10.3% |
| MO Altria Group Inc. | 1.20% | 1,961,000 | $100.1M | Add +1.8% |
| TXN Texas Instruments Inc. | 1.19% | 478,786 | $98.9M | Reduce -18.6% |
| IDXX Idexx Laboratories Inc. | 1.17% | 193,030 | $97.5M | Reduce -9.9% |
| DHR Danaher Corp. | 1.17% | 350,099 | $97.3M | Reduce -20.9% |
| CL Colgate-Palmolive Co. | 1.16% | 933,796 | $96.9M | Reduce -2.6% |
| ELV Elevance Health Inc. | 1.15% | 185,027 | $96.2M | Reduce -8.7% |
| FCX Freeport-McMoran Inc. | 1.13% | 1,882,400 | $94.0M | Add +39.8% |
| TECK Teck Resources Ltd.-CLS B | 1.11% | 1,768,600 | $92.4M | Add +32.4% |
| LNG Cheniere Energy Inc. | 1.10% | 511,000 | $91.9M | Add +33.8% |
| TMO Thermo Fisher Scientific Inc. | 1.08% | 146,370 | $90.5M | Reduce -24.1% |
| AZO AutoZone Inc. | 1.05% | 27,727 | $87.3M | Reduce -8.6% |
| COST Costco Wholesale Corp. | 1.03% | 97,142 | $86.1M | Reduce -12.8% |
| ALGN Align Technology Inc. | 0.99% | 326,361 | $83.0M | Reduce -11.3% |
| CCJ Cameco Corp. | 0.98% | 1,706,900 | $81.5M | Add +39.6% |
| PM Philip Morris International | 0.96% | 657,440 | $79.8M | Add +55.3% |
| CNP Centerpoint Energy Inc. | 0.95% | 2,703,745 | $79.5M | Add +31.4% |
| EW Edwards Lifesciences Corp. | 0.93% | 1,174,280 | $77.5M | Reduce -16.9% |
| FAST Fastenal Co. | 0.92% | 1,080,455 | $77.2M | Reduce -11.6% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.91% | 73,488 | $76.3M | Reduce -15.6% |
| KR Kroger Co. | 0.91% | 1,329,710 | $76.2M | Reduce -8.2% |
| MCK McKesson Corp. | 0.87% | 146,222 | $72.3M | Reduce -8.8% |
| EQT Eqt Corp. | 0.86% | 1,963,000 | $71.9M | Add +29.9% |
| CVX Chevron Corp. | 0.86% | 487,400 | $71.8M | Add +32.8% |
| EOG EOG Resources Inc. | 0.79% | 536,700 | $66.0M | Add +32.4% |
| KLAC KLA Corp. | 0.79% | 84,841 | $65.7M | Add +0.7% |
| HD Home Depot Inc. | 0.76% | 156,958 | $63.6M | No change |
| BAH Booz Allen Hamilton Holdings | 0.75% | 386,400 | $62.9M | Reduce -11.7% |
| HCA HCA Healthcare Inc. | 0.73% | 150,667 | $61.2M | Add +11.1% |
| FICO Fair Isaac Corp. | 0.70% | 30,200 | $58.7M | No change |
| OTIS Otis Worldwide Corp. | 0.70% | 563,900 | $58.6M | No change |
| HPQ HP Inc. | 0.68% | 1,571,815 | $56.4M | Add +11.4% |
| IT Gartner Inc. | 0.67% | 110,578 | $56.0M | No change |
| CMS CMS Energy Corp. | 0.67% | 790,900 | $55.9M | No change |
| COR Cencora Inc. | 0.66% | 243,429 | $54.8M | Reduce -5.1% |
| CDNS Cadence Design SYS Inc. | 0.63% | 194,900 | $52.8M | Reduce -18.1% |
| BKNG Booking Holdings Inc. | 0.62% | 12,300 | $51.8M | No change |
| DASH DoorDash Inc. Class A | 0.59% | 344,212 | $49.1M | No change |
| LIN Linde PLC | 0.59% | 103,000 | $49.1M | Reduce -3.6% |
| MSI Motorola Solutions Inc. | 0.58% | 108,400 | $48.7M | No change |
| CTAS Cintas Corp. | 0.58% | 235,896 | $48.6M | No change |
| PEP Pepsico Inc. | 0.58% | 283,284 | $48.2M | Reduce -50.5% |
| AMAT Applied Materials Inc. | 0.57% | 235,268 | $47.5M | Add +0.6% |
| NVR NVR Inc. | 0.56% | 4,794 | $47.0M | No change |
| UNH Unitedhealth Group Inc. | 0.56% | 80,256 | $46.9M | Reduce -23.1% |
| CAT Caterpillar Inc. | 0.55% | 118,300 | $46.3M | Add +2.1% |
| HOOD Robinhood Markets Inc. Class A | 0.54% | 1,937,274 | $45.4M | No change |
| FTNT Fortinet Inc. | 0.53% | 572,605 | $44.4M | No change |
| KO The Coca-Cola Co. | 0.52% | 600,300 | $43.1M | New |
| ROL Rollins Inc. | 0.52% | 851,917 | $43.1M | Add +1.7% |
| DDOG Datadog Inc. Class A | 0.51% | 371,761 | $42.8M | Reduce -30.3% |
| CTSH Cognizant Tech Solutions-A | 0.51% | 548,480 | $42.3M | No change |
| VLTO Veralto Corp. | 0.51% | 378,099 | $42.3M | Add +17.8% |
| NDAQ Nasdaq Inc. | 0.50% | 567,900 | $41.5M | No change |
| NTAP Netapp Inc. | 0.50% | 334,663 | $41.3M | Add +5.8% |
| ORCL Oracle Corp. | 0.49% | 239,900 | $40.9M | Add +84.5% |
| CHD Church & Dwight Co. Inc. | 0.47% | 373,899 | $39.2M | Reduce -2.1% |
| SNA Snap-on Inc. | 0.47% | 135,024 | $39.1M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.47% | 332,800 | $39.1M | Add +21.9% |
| AMGN Amgen Inc. | 0.47% | 120,700 | $38.9M | Reduce -14.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.44% | 165,100 | $36.5M | Add +226.3% |
| CVS CVS Health Corp. | 0.43% | 573,446 | $36.1M | No change |
| CHKP Check Point Software Tech | 0.43% | 186,929 | $36.0M | No change |
| KMB Kimberly-Clark Corp. | 0.42% | 249,140 | $35.4M | Reduce -0.6% |
| RSG Republic Services Inc. | 0.41% | 169,321 | $34.0M | Reduce -14.3% |
| WM Waste Management Inc. | 0.39% | 155,576 | $32.3M | Reduce -15.1% |
| PTC PTC Inc. | 0.39% | 178,700 | $32.3M | Add +33.0% |
| CMCSA Comcast Corp. Class A | 0.38% | 767,400 | $32.1M | No change |
| LOW Lowe's Cos Inc. | 0.38% | 117,883 | $31.9M | Add +6.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.37% | 111,020 | $31.1M | Reduce -29.7% |
| NTNX Nutanix Inc. Class A | 0.36% | 511,641 | $30.3M | No change |
| NUE Nucor Corp. | 0.36% | 197,852 | $29.7M | Reduce -19.1% |
| JPM JPMorgan Chase & Co. | 0.35% | 138,000 | $29.1M | Add +12.6% |
| BILL Bill Holdings Inc. | 0.35% | 549,946 | $29.0M | No change |
| VZ Verizon Communications Inc. | 0.35% | 644,500 | $28.9M | Reduce -3.6% |
| NVT Nvent Electric PLC | 0.33% | 395,381 | $27.8M | Add +138.1% |
| CNC Centene Corp. | 0.33% | 367,200 | $27.6M | Add +22.9% |
| SOLV Solventum Corp. | 0.33% | 395,161 | $27.6M | Add +65.2% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.32% | 271,500 | $27.1M | Add +24.4% |
Portfolio Sells Q2 2024 → Q3 2024
| LLY Eli Lilly & Co. | Sold out | 0.00% | −1.09 |
| MSFT Microsoft Corp. | Reduce -23.1% | 2.14% | −0.74 |
| EW Edwards Lifesciences Corp. | Reduce -16.9% | 0.93% | −0.63 |
| MRK Merck & Co. Inc. | Reduce -26.1% | 1.26% | −0.59 |
| PEP Pepsico Inc. | Reduce -50.5% | 0.58% | −0.55 |
| META Meta Platforms Inc. Class A | Reduce -33.7% | 1.64% | −0.53 |
| AMZN Amazon.com Inc. | Reduce -20.9% | 1.43% | −0.44 |
| GOOGL Alphabet Inc. Class A | Reduce -11.3% | 1.53% | −0.36 |
| GIS General Mills Inc. | Reduce -67.1% | 0.23% | −0.36 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -29.7% | 0.37% | −0.35 |
| DDOG Datadog Inc. Class A | Reduce -30.3% | 0.51% | −0.31 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -67.6% | 0.13% | −0.28 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.26 |
| MCK McKesson Corp. | Reduce -8.8% | 0.87% | −0.25 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.24 |
| CDNS Cadence Design SYS Inc. | Reduce -18.1% | 0.63% | −0.24 |
| V Visa Inc. Class A | Reduce -19.9% | 1.27% | −0.24 |
| NOW ServiceNow Inc. | Reduce -22.2% | 1.83% | −0.23 |
| PANW Palo Alto Networks Inc. | Reduce -16.0% | 1.26% | −0.22 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.21 |
| PCAR Paccar Inc. | Sold out | 0.00% | −0.21 |
| TMO Thermo Fisher Scientific Inc. | Reduce -24.1% | 1.08% | −0.19 |
| TXN Texas Instruments Inc. | Reduce -18.6% | 1.19% | −0.18 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.18 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.17 |
| ELV Elevance Health Inc. | Reduce -8.7% | 1.15% | −0.16 |
| DHR Danaher Corp. | Reduce -20.9% | 1.17% | −0.15 |
| SPGI S&P Global Inc. | Reduce -21.1% | 1.56% | −0.14 |
| HSY The Hershey Co. | Reduce -58.1% | 0.11% | −0.14 |
| LULU Lululemon Athletica Inc. | Reduce -29.0% | 0.24% | −0.13 |
| K Kellanova | Sold out | 0.00% | −0.12 |
| REGN Regeneron Pharmaceuticals | Reduce -37.5% | 0.19% | −0.11 |
| NUE Nucor Corp. | Reduce -19.1% | 0.36% | −0.11 |
| SJM The JM Smucker Co. | Sold out | 0.00% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -12.8% | 1.03% | −0.10 |
| WM Waste Management Inc. | Reduce -15.1% | 0.39% | −0.08 |
| IDXX Idexx Laboratories Inc. | Reduce -9.9% | 1.17% | −0.08 |
| PSX Phillips 66 | Sold out | 0.00% | −0.08 |
| UNH Unitedhealth Group Inc. | Reduce -23.1% | 0.56% | −0.07 |
| ALGN Align Technology Inc. | Reduce -11.3% | 0.99% | −0.07 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.06 |
| AMGN Amgen Inc. | Reduce -14.0% | 0.47% | −0.06 |
| BAH Booz Allen Hamilton Holdings | Reduce -11.7% | 0.75% | −0.05 |
| RSG Republic Services Inc. | Reduce -14.3% | 0.41% | −0.05 |
| STLD Steel Dynamics Inc. | Reduce -11.8% | 0.30% | −0.05 |
| AME Ametek Inc. | Reduce -48.1% | 0.05% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -8.0% | 1.45% | −0.05 |
| AMP Ameriprise Financial Inc. | Reduce -43.1% | 0.07% | −0.04 |
| HWM Howmet Aerospace Inc. | Sold out | 0.00% | −0.04 |
| COR Cencora Inc. | Reduce -5.1% | 0.66% | −0.03 |
Portfolio Buys Q2 2024 → Q3 2024
| AAPL Apple Inc. | Add +35.3% | 1.56% | +0.52 |
| KO The Coca-Cola Co. | New | 0.52% | +0.52 |
| PM Philip Morris International | Add +55.3% | 0.96% | +0.44 |
| CEG Constellation Energy | Add +8.3% | 1.41% | +0.41 |
| FCX Freeport-McMoran Inc. | Add +39.8% | 1.13% | +0.34 |
| TECK Teck Resources Ltd.-CLS B | Add +32.4% | 1.11% | +0.34 |
| IBM Intl Business Machines Corp. | Add +226.3% | 0.44% | +0.33 |
| ABBV Abbvie Inc. | Add +7.8% | 1.66% | +0.33 |
| LNG Cheniere Energy Inc. | Add +33.8% | 1.10% | +0.30 |
| ORCL Oracle Corp. | Add +84.5% | 0.49% | +0.27 |
| CCJ Cameco Corp. | Add +39.6% | 0.98% | +0.26 |
| MRSH Marsh & McLennan Cos | New | 0.22% | +0.22 |
| HCA HCA Healthcare Inc. | Add +11.1% | 0.73% | +0.21 |
| CSCO Cisco Systems Inc. | Add +3.8% | 1.42% | +0.20 |
| EQT Eqt Corp. | Add +29.9% | 0.86% | +0.19 |
| CNP Centerpoint Energy Inc. | Add +31.4% | 0.95% | +0.19 |
| EOG EOG Resources Inc. | Add +32.4% | 0.79% | +0.18 |
| NVT Nvent Electric PLC | Add +138.1% | 0.33% | +0.18 |
| SOLV Solventum Corp. | Add +65.2% | 0.33% | +0.18 |
| CVX Chevron Corp. | Add +32.8% | 0.86% | +0.17 |
| OWL Blue Owl Capital Inc. | Add +121.6% | 0.29% | +0.17 |
| PGR Progressive Corp. | Add +285.3% | 0.20% | +0.16 |
| MO Altria Group Inc. | Add +1.8% | 1.20% | +0.15 |
| ARGX Argenx SE - ADR | New | 0.15% | +0.15 |
| VLTO Veralto Corp. | Add +17.8% | 0.51% | +0.14 |
| ADP Automatic Data Processing | Add +41.5% | 0.31% | +0.12 |
| CBRE CBRE Group Inc. Class A | Add +175.4% | 0.16% | +0.12 |
| ADBE Adobe Inc. | Add +513.9% | 0.14% | +0.11 |
| ABT Abbott Laboratories | Add +41.0% | 0.32% | +0.11 |
| TJX TJX Companies Inc. | Add +21.9% | 0.47% | +0.11 |
| ADI Analog Devices Inc. | New | 0.11% | +0.11 |
| INTU Intuit Inc. | Add +138.6% | 0.18% | +0.10 |
| PTC PTC Inc. | Add +33.0% | 0.39% | +0.10 |
| CNC Centene Corp. | Add +22.9% | 0.33% | +0.09 |
| CAT Caterpillar Inc. | Add +2.1% | 0.55% | +0.09 |
| LOW Lowe's Cos Inc. | Add +6.4% | 0.38% | +0.09 |
| HPQ HP Inc. | Add +11.4% | 0.68% | +0.09 |
| PHM Pultegroup Inc. | Add +6.8% | 0.25% | +0.07 |
| SO The Southern Co. | New | 0.06% | +0.06 |
| EME Emcor Group Inc. | Add +308.8% | 0.07% | +0.06 |
| ITW Illinois Tool Works | Add +10.8% | 0.28% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +12.6% | 0.35% | +0.05 |
| HON Honeywell International Inc. | New | 0.05% | +0.05 |
| MANH Manhattan Associates Inc. | Add +270.4% | 0.07% | +0.05 |
| PKG Packaging Corp. of America | Add +29.6% | 0.15% | +0.05 |
| BMY Bristol-Myers Squibb Co. | Add +4.2% | 0.21% | +0.05 |
| CAH Cardinal Health Inc. | Add +18.2% | 0.19% | +0.05 |
| EL Estee Lauder Companies Class A | Add +24.4% | 0.32% | +0.05 |
| BSX Boston Scientific Corp. | Add +11.8% | 0.24% | +0.04 |
| ROP Roper Technologies Inc. | Add +35.4% | 0.15% | +0.04 |
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 |