Railway Pension Investments Ltd

Name: Railway Pension Investments Ltd 13F holdings, Q1 2026
Creator: Railway Pension Investments Ltd
Published: 2026-05-12

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Railway Pension Investments Ltd reported 103 stock positions worth $7.0 billion. Its top holding was Microsoft (MSFT) at 5.3% of the portfolio, followed by Alphabet Class A (GOOGL, 3.8%) and Nvidia (NVDA, 3.5%). Compared with Q4 2025, it opened 11 new positions, sold out of 14, added to 9 and reduced 55. The biggest buy was Stryker (SYK, shares +1169%) and the biggest sale an exit from S&P Global (SPGI).

Most Recent 13F: Q2 2026
Location: LONDON, X0
CIK: 0001658020
Portfolio Value: $7.0B (Q1 2026)
SEC Filing: 0001658020-26-000003 ↗ filed May 12, 2026

Holdings Value

Holdings 103 stocks · $7.0B


MSFT Microsoft Corp.	5.34%	1,013,270	$375.1M	Reduce -9.7%
GOOGL Alphabet Inc. Class A	3.77%	920,190	$264.6M	Reduce -23.2%
NVDA Nvidia Corp.	3.49%	1,407,700	$245.5M	Reduce -7.8%
LNG Cheniere Energy Inc.	3.45%	855,100	$242.6M	Reduce -7.0%
AMZN Amazon.com Inc.	3.33%	1,121,800	$233.6M	Add +7.3%
AVGO Broadcom Inc.	3.33%	754,692	$233.6M	Reduce -7.3%
META Meta Platforms Inc. Class A	3.25%	399,440	$228.5M	Add +16.9%
NEE Nextera Energy Inc.	3.08%	2,328,732	$216.3M	Reduce -7.5%
LRCX Lam Research Corp.	2.99%	982,200	$209.9M	Reduce -5.7%
EQIX Equinix Inc.	2.88%	206,469	$202.4M	Reduce -8.0%
TMO Thermo Fisher Scientific Inc.	2.86%	408,930	$201.0M	Reduce -7.6%
TXN Texas Instruments Inc.	2.71%	981,511	$190.6M	Reduce -2.9%
GILD Gilead Sciences Inc.	2.59%	1,303,365	$181.6M	Reduce -6.8%
CEG Constellation Energy	2.52%	632,760	$176.7M	Add +15.7%
ABBV Abbvie Inc.	2.48%	800,849	$174.2M	Reduce -6.8%
AAPL Apple Inc.	2.46%	681,852	$173.0M	Reduce -9.5%
V Visa Inc. Class A	2.41%	560,679	$169.5M	Reduce -10.3%
SYK Stryker Corp.	2.29%	489,760	$160.9M	Add +1168.8%
JNJ Johnson & Johnson	2.26%	650,036	$158.9M	Reduce -10.2%
PANW Palo Alto Networks Inc.	2.24%	982,856	$157.6M	Reduce -6.0%
MA Mastercard Inc. Class A	2.08%	292,460	$146.1M	Reduce -12.5%
IDXX Idexx Laboratories Inc.	2.05%	256,480	$144.1M	Reduce -21.3%
PEG Public Service Enterprise GP	1.98%	1,722,350	$139.4M	Reduce -22.6%
KLAC KLA Corp.	1.83%	87,387	$128.7M	Reduce -12.2%
QCOM Qualcomm Inc.	1.73%	942,600	$121.4M	Reduce -10.0%
APH Amphenol Corp. Class A	1.52%	847,200	$107.0M	Reduce -9.5%
ORLY O'reilly Automotive Inc.	1.52%	1,156,151	$106.7M	Reduce -8.2%
MCK McKesson Corp.	1.35%	109,682	$94.9M	Reduce -13.0%
NOW ServiceNow Inc.	1.33%	892,280	$93.3M	Reduce -13.6%
CSCO Cisco Systems Inc.	1.26%	1,138,076	$88.3M	Reduce -11.7%
MO Altria Group Inc.	1.21%	1,292,400	$85.3M	Reduce -11.9%
FAST Fastenal Co.	1.11%	1,686,750	$78.3M	Reduce -10.5%
PH Parker Hannifin Corp.	0.94%	73,400	$65.7M	Reduce -11.7%
BMY Bristol-Myers Squibb Co.	0.90%	1,040,700	$63.1M	Reduce -12.1%
EXPE Expedia Group Inc.	0.87%	265,700	$61.3M	Reduce -19.7%
GWW WW Grainger Inc.	0.86%	55,208	$60.2M	Reduce -12.5%
NTAP Netapp Inc.	0.75%	515,150	$52.7M	Reduce -12.6%
BKNG Booking Holdings Inc.	0.69%	11,472	$48.3M	Reduce -17.9%
HCA HCA Healthcare Inc.	0.62%	92,447	$43.7M	Reduce -13.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.61%	267,100	$42.7M	Reduce -12.7%
WMT Walmart Inc.	0.60%	340,239	$42.3M	Reduce -12.8%
CDNS Cadence Design SYS Inc.	0.56%	140,720	$39.1M	Reduce -15.3%
MSI Motorola Solutions Inc.	0.53%	85,560	$37.1M	Reduce -12.5%
TPR Tapestry Inc.	0.52%	256,400	$36.2M	Reduce -17.5%
CRM Salesforce Inc.	0.51%	191,000	$35.7M	Reduce -19.9%
VZ Verizon Communications Inc.	0.50%	705,000	$35.4M	Reduce -12.6%
MAR Marriott International Class A	0.50%	106,600	$34.9M	New
ROL Rollins Inc.	0.48%	635,417	$33.9M	Reduce -12.7%
ADSK Autodesk Inc.	0.47%	138,192	$33.1M	Reduce -19.3%
OTIS Otis Worldwide Corp.	0.45%	410,000	$31.6M	Reduce -12.8%
CTAS Cintas Corp.	0.43%	177,796	$30.1M	Reduce -12.8%
AMGN Amgen Inc.	0.42%	83,980	$29.5M	Reduce -12.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.42%	121,580	$29.5M	Reduce -19.9%
WSM Williams-Sonoma Inc.	0.40%	155,700	$28.4M	Reduce -13.1%
HPQ HP Inc.	0.39%	1,432,115	$27.5M	Reduce -18.6%
CTSH Cognizant Tech Solutions-A	0.38%	434,580	$26.7M	Reduce -19.8%
INTU Intuit Inc.	0.32%	51,240	$22.2M	Add +81.7%
GDDY GoDaddy Inc. Class A	0.31%	263,700	$21.8M	Add +498.0%
ADBE Adobe Inc.	0.31%	88,400	$21.5M	Add +474.0%
FTV Fortive Corp.	0.31%	388,700	$21.5M	New
SNA Snap-on Inc.	0.30%	57,900	$21.0M	Reduce -11.1%
CF CF Industries Holdings Inc.	0.30%	160,100	$20.8M	No change
CMCSA Comcast Corp. Class A	0.29%	704,900	$20.2M	Reduce -11.1%
ITW Illinois Tool Works	0.28%	76,163	$19.8M	Reduce -11.2%
ADI Analog Devices Inc.	0.28%	62,200	$19.8M	New
EME Emcor Group Inc.	0.27%	25,401	$18.8M	Add +7.8%
TT Trane Technologies PLC	0.27%	45,000	$18.8M	No change
CAH Cardinal Health Inc.	0.26%	86,100	$18.2M	New
ROST Ross Stores Inc.	0.26%	82,900	$18.0M	Add +353.0%
ACN Accenture PLC Class A	0.25%	90,225	$17.9M	No change
UHS Universal Health Services-B	0.24%	95,900	$17.2M	Reduce -0.8%
TRMB Trimble Inc.	0.24%	261,800	$17.1M	No change
CL Colgate-Palmolive Co.	0.22%	178,909	$15.2M	No change
YUM Yum! Brands Inc.	0.21%	94,600	$14.7M	No change
IT Gartner Inc.	0.21%	91,378	$14.5M	No change
GEN Gen Digital Inc.	0.18%	665,100	$12.5M	No change
HLT Hilton Worldwide Holdings Inc.	0.17%	38,400	$11.7M	No change
VRSK Verisk Analytics Inc.	0.17%	61,400	$11.7M	No change
EXPD Expeditors Intl Wash Inc.	0.15%	75,800	$10.9M	No change
CBOE Cboe Global Markets Inc.	0.15%	37,800	$10.6M	New
VRSN Verisign Inc.	0.14%	40,200	$10.0M	No change
VLTO Veralto Corp.	0.14%	111,000	$9.8M	No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.12%	70,300	$8.3M	No change
L Loews Corp.	0.11%	75,500	$8.1M	No change
AME Ametek Inc.	0.11%	35,872	$7.7M	No change
FFIV F5 Inc.	0.11%	26,330	$7.6M	No change
DGX Quest Diagnostics Inc.	0.10%	34,500	$6.8M	New
TRV The Travelers Cos Inc.	0.07%	18,000	$5.3M	No change
MNST Monster Beverage Corp.	0.07%	64,700	$4.7M	No change
FNF Fidelity National Financial	0.06%	96,000	$4.5M	No change
DOCU Docusign Inc.	0.06%	87,200	$4.1M	New
MDT Medtronic PLC	0.06%	45,200	$3.9M	No change
PM Philip Morris International	0.05%	23,040	$3.8M	No change
FOXA Fox Corp. Class A	0.05%	65,100	$3.8M	New
DPZ Domino's Pizza Inc.	0.05%	9,700	$3.5M	No change
MTD Mettler-Toledo International	0.05%	2,540	$3.2M	New
SOLV Solventum Corp.	0.04%	47,800	$3.1M	New
BR Broadridge Financial Solutio	0.04%	17,700	$2.9M	No change
KR Kroger Co.	0.04%	37,110	$2.7M	No change
DECK Deckers Outdoor Corp.	0.03%	22,500	$2.3M	No change

Show all 103 holdings

Portfolio Sells Q4 2025 → Q1 2026


SPGI S&P Global Inc.	Sold out	0.00%	−2.26
LPLA LPL Financial Holdings Inc.	Sold out	0.00%	−1.87
DHR Danaher Corp.	Sold out	0.00%	−1.86
MRK Merck & Co. Inc.	Sold out	0.00%	−1.43
MSFT Microsoft Corp.	Reduce -9.7%	5.34%	−1.03
AZO AutoZone Inc.	Sold out	0.00%	−0.96
GOOGL Alphabet Inc. Class A	Reduce -23.2%	3.77%	−0.64
IDXX Idexx Laboratories Inc.	Reduce -21.3%	2.05%	−0.54
NOW ServiceNow Inc.	Reduce -13.6%	1.33%	−0.53
QCOM Qualcomm Inc.	Reduce -10.0%	1.73%	−0.38
CHKP Check Point Software Tech	Sold out	0.00%	−0.36
BSX Boston Scientific Corp.	Sold out	0.00%	−0.29
CRM Salesforce Inc.	Reduce -19.9%	0.51%	−0.23
EXPE Expedia Group Inc.	Reduce -19.7%	0.87%	−0.23
ROP Roper Technologies Inc.	Sold out	0.00%	−0.20
BKNG Booking Holdings Inc.	Reduce -17.9%	0.69%	−0.19
V Visa Inc. Class A	Reduce -10.3%	2.41%	−0.16
EA Electronic Arts Inc.	Sold out	0.00%	−0.16
MA Mastercard Inc. Class A	Reduce -12.5%	2.08%	−0.16
TMO Thermo Fisher Scientific Inc.	Reduce -7.6%	2.86%	−0.15
CTSH Cognizant Tech Solutions-A	Reduce -19.8%	0.38%	−0.15
HOLX Hologic Inc.	Sold out	0.00%	−0.14
ADSK Autodesk Inc.	Reduce -19.3%	0.47%	−0.12
PEG Public Service Enterprise GP	Reduce -22.6%	1.98%	−0.11
ABT Abbott Laboratories	Sold out	0.00%	−0.11
IBM Intl Business Machines Corp.	Reduce -19.9%	0.42%	−0.11
RPM RPM International Inc.	Sold out	0.00%	−0.09
HPQ HP Inc.	Reduce -18.6%	0.39%	−0.07
CDNS Cadence Design SYS Inc.	Reduce -15.3%	0.56%	−0.05
CMI Cummins Inc.	Sold out	0.00%	−0.05
OTIS Otis Worldwide Corp.	Reduce -12.8%	0.45%	−0.03
ROL Rollins Inc.	Reduce -12.7%	0.48%	−0.03
CTAS Cintas Corp.	Reduce -12.8%	0.43%	−0.02
PANW Palo Alto Networks Inc.	Reduce -6.0%	2.24%	−0.02
UHS Universal Health Services-B	Reduce -0.8%	0.24%	−0.00
FG F&G Annuities & Life Inc.	Sold out	0.00%	−0.00
NTAP Netapp Inc.	Reduce -12.6%	0.75%	+0.01
CMCSA Comcast Corp. Class A	Reduce -11.1%	0.29%	+0.01
AVGO Broadcom Inc.	Reduce -7.3%	3.33%	+0.02
WSM Williams-Sonoma Inc.	Reduce -13.1%	0.40%	+0.03
ITW Illinois Tool Works	Reduce -11.2%	0.28%	+0.03
SNA Snap-on Inc.	Reduce -11.1%	0.30%	+0.04
HCA HCA Healthcare Inc.	Reduce -13.4%	0.62%	+0.04
APH Amphenol Corp. Class A	Reduce -9.5%	1.52%	+0.04
TPR Tapestry Inc.	Reduce -17.5%	0.52%	+0.05
AMGN Amgen Inc.	Reduce -12.8%	0.42%	+0.05
TJX TJX Companies Inc.	Reduce -12.7%	0.61%	+0.06
AAPL Apple Inc.	Reduce -9.5%	2.46%	+0.06
PH Parker Hannifin Corp.	Reduce -11.7%	0.94%	+0.08
MSI Motorola Solutions Inc.	Reduce -12.5%	0.53%	+0.09

Portfolio Buys Q4 2025 → Q1 2026


SYK Stryker Corp.	Add +1168.8%	2.29%	+2.13
META Meta Platforms Inc. Class A	Add +16.9%	3.25%	+0.60
MAR Marriott International Class A	New	0.50%	+0.50
AMZN Amazon.com Inc.	Add +7.3%	3.33%	+0.49
FTV Fortive Corp.	New	0.31%	+0.31
ADI Analog Devices Inc.	New	0.28%	+0.28
CAH Cardinal Health Inc.	New	0.26%	+0.26
CEG Constellation Energy	Add +15.7%	2.52%	+0.25
GDDY GoDaddy Inc. Class A	Add +498.0%	0.31%	+0.25
ADBE Adobe Inc.	Add +474.0%	0.31%	+0.24
ROST Ross Stores Inc.	Add +353.0%	0.26%	+0.22
CBOE Cboe Global Markets Inc.	New	0.15%	+0.15
EME Emcor Group Inc.	Add +7.8%	0.27%	+0.10
DGX Quest Diagnostics Inc.	New	0.10%	+0.10
INTU Intuit Inc.	Add +81.7%	0.32%	+0.10
DOCU Docusign Inc.	New	0.06%	+0.06
FOXA Fox Corp. Class A	New	0.05%	+0.05
MTD Mettler-Toledo International	New	0.05%	+0.05
SOLV Solventum Corp.	New	0.04%	+0.04
TTAN Servicetitan Inc. Class A	New	0.00%	+0.00

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