Railway Pension Investments Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Railway Pension Investments Ltd reported 102 stock positions worth $8.0 billion. Its top holding was Nvidia (NVDA) at 5.9% of the portfolio, followed by Apple (AAPL, 4.8%) and Alphabet Class A (GOOGL, 4.2%). Compared with Q1 2026, it opened 12 new positions, sold out of 13, added to 38 and reduced 28. The biggest buy was a new position in Arista Networks (ANET) and the biggest sale Microsoft (MSFT, shares −39%).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001658020
Portfolio Value
$8.0B (Q2 2026)
SEC Filing
0001658020-26-000005 ↗ filed Aug 14, 2026

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.3B Q1 2024 Q2 2024: $8.4B Q2 2024 Q3 2024: $8.3B Q3 2024 Q4 2024: $7.5B Q4 2024 Q1 2025: $7.0B Q1 2025 Q2 2025: $7.1B Q2 2025 Q3 2025: $7.4B Q3 2025 Q4 2025: $8.5B Q4 2025 Q1 2026: $7.0B Q1 2026 Q2 2026: $8.0B $8.0B Q2 2026

Holdings 102 stocks · $8.0B
NVDA Nvidia Corp. 5.93% 2,356,300 $471.5M Add +67.4%
AAPL Apple Inc. 4.80% 1,320,786 $382.2M Add +93.7%
GOOGL Alphabet Inc. Class A 4.17% 929,030 $332.0M Add +1.0%
LRCX Lam Research Corp. 4.11% 754,700 $327.0M Reduce -23.2%
AVGO Broadcom Inc. 4.05% 852,192 $321.9M Add +12.9%
KLAC KLA Corp. 3.51% 926,652 $279.6M Add +6.0%
AMZN Amazon.com Inc. 2.98% 996,040 $237.4M Reduce -11.2%
MSFT Microsoft Corp. 2.89% 617,170 $230.2M Reduce -39.1%
TXN Texas Instruments Inc. 2.85% 760,371 $226.6M Reduce -22.5%
V Visa Inc. Class A 2.71% 628,679 $215.7M Add +12.1%
ANET Arista Networks Inc. 2.53% 1,184,850 $201.3M New
ABBV Abbvie Inc. 2.51% 792,949 $199.5M Reduce -1.0%
BAC Bank of America Corp. 2.50% 3,485,400 $198.6M New
META Meta Platforms Inc. Class A 2.42% 342,200 $192.8M Reduce -14.3%
NEE Nextera Energy Inc. 2.27% 2,056,432 $180.5M Reduce -11.7%
TMO Thermo Fisher Scientific Inc. 2.26% 358,970 $180.0M Reduce -12.2%
EQIX Equinix Inc. 2.15% 163,989 $170.9M Reduce -20.6%
JNJ Johnson & Johnson 2.08% 650,036 $165.1M No change
GILD Gilead Sciences Inc. 2.06% 1,295,596 $163.7M Reduce -0.6%
CEG Constellation Energy 1.94% 620,960 $154.2M Reduce -1.9%
APH Amphenol Corp. Class A 1.90% 857,100 $151.1M Add +1.2%
QCOM Qualcomm Inc. 1.88% 807,400 $149.2M Reduce -14.3%
MA Mastercard Inc. Class A 1.87% 289,640 $148.8M Reduce -1.0%
LNG Cheniere Energy Inc. 1.76% 586,260 $140.1M Reduce -31.4%
CSCO Cisco Systems Inc. 1.74% 1,175,076 $138.0M Add +3.3%
SYK Stryker Corp. 1.61% 407,720 $128.4M Reduce -16.8%
PEG Public Service Enterprise GP 1.39% 1,360,650 $110.4M Reduce -21.0%
MO Altria Group Inc. 1.14% 1,264,600 $91.0M Reduce -2.1%
NTAP Netapp Inc. 1.03% 531,250 $82.2M Add +3.1%
MCK McKesson Corp. 1.02% 107,642 $81.3M Reduce -1.9%
FAST Fastenal Co. 1.00% 1,656,050 $79.5M Reduce -1.8%
GWW WW Grainger Inc. 0.92% 54,048 $73.5M Reduce -2.1%
PH Parker Hannifin Corp. 0.90% 73,400 $71.8M No change
EXPE Expedia Group Inc. 0.86% 268,659 $68.7M Add +1.1%
INSM Insmed Inc. 0.81% 604,700 $64.5M New
BMY Bristol-Myers Squibb Co. 0.75% 1,040,700 $60.0M No change
CDNS Cadence Design SYS Inc. 0.69% 146,200 $54.9M Add +3.9%
TPR Tapestry Inc. 0.66% 356,576 $52.2M Add +39.1%
TT Trane Technologies PLC 0.64% 104,000 $51.1M Add +131.1%
ADI Analog Devices Inc. 0.63% 125,940 $50.0M Add +102.5%
FTNT Fortinet Inc. 0.60% 309,800 $47.6M New
ADBE Adobe Inc. 0.56% 217,760 $44.6M Add +146.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.51% 270,200 $40.9M Add +1.2%
HPQ HP Inc. 0.49% 1,785,815 $39.2M Add +24.7%
ADSK Autodesk Inc. 0.49% 200,292 $38.9M Add +44.9%
FFIV F5 Inc. 0.48% 91,010 $37.9M Add +245.7%
FTV Fortive Corp. 0.46% 604,400 $36.9M Add +55.5%
WSM Williams-Sonoma Inc. 0.46% 155,700 $36.3M No change
KEYS Keysight Technologies Inc. 0.45% 103,120 $36.1M New
HCA HCA Healthcare Inc. 0.45% 92,447 $36.0M No change
MSI Motorola Solutions Inc. 0.45% 85,560 $35.5M No change
CRM Salesforce Inc. 0.44% 223,000 $34.9M Add +16.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.43% 121,580 $34.2M No change
INTU Intuit Inc. 0.42% 128,000 $33.4M Add +149.8%
GEN Gen Digital Inc. 0.41% 1,320,600 $32.9M Add +98.6%
CAH Cardinal Health Inc. 0.39% 131,000 $31.1M Add +52.1%
HLT Hilton Worldwide Holdings Inc. 0.38% 92,200 $30.5M Add +140.1%
AMGN Amgen Inc. 0.38% 83,980 $30.4M No change
CTAS Cintas Corp. 0.38% 177,796 $30.2M No change
VZ Verizon Communications Inc. 0.36% 671,900 $28.4M Reduce -4.7%
OTIS Otis Worldwide Corp. 0.36% 394,800 $28.3M Reduce -3.7%
PTC PTC Inc. 0.34% 234,626 $26.7M Add +1421.0%
ROL Rollins Inc. 0.33% 635,417 $26.5M No change
ROST Ross Stores Inc. 0.30% 114,000 $24.3M Add +37.5%
ACN Accenture PLC Class A 0.30% 192,138 $23.9M Add +113.0%
IDXX Idexx Laboratories Inc. 0.30% 45,360 $23.9M Reduce -82.3%
EME Emcor Group Inc. 0.30% 28,721 $23.8M Add +13.1%
ITW Illinois Tool Works 0.30% 87,203 $23.6M Add +14.5%
SNA Snap-on Inc. 0.29% 57,900 $23.3M No change
CTSH Cognizant Tech Solutions-A 0.25% 505,480 $19.6M Add +16.3%
WDAY Workday Inc. Class A 0.21% 134,100 $16.4M New
CL Colgate-Palmolive Co. 0.21% 178,909 $16.4M No change
CMCSA Comcast Corp. Class A 0.20% 658,400 $16.2M Reduce -6.6%
CF CF Industries Holdings Inc. 0.20% 148,600 $16.1M Reduce -7.2%
DECK Deckers Outdoor Corp. 0.20% 159,472 $15.8M Add +608.8%
TRGP Targa Resources Corp. 0.19% 56,500 $15.1M New
YUM Yum! Brands Inc. 0.19% 94,600 $15.1M No change
DGX Quest Diagnostics Inc. 0.18% 66,000 $14.0M Add +91.3%
MTD Mettler-Toledo International 0.17% 10,850 $13.9M Add +327.2%
AME Ametek Inc. 0.17% 56,672 $13.7M Add +58.0%
CBOE Cboe Global Markets Inc. 0.17% 56,200 $13.6M Add +48.7%
TRMB Trimble Inc. 0.17% 261,800 $13.4M No change
FNF Fidelity National Financial 0.17% 278,600 $13.1M Add +190.2%
EXPD Expeditors Intl Wash Inc. 0.16% 75,800 $12.4M No change
NDSN Nordson Corp. 0.13% 34,300 $10.3M New
BNY Bank of New York Mellon Corp. 0.13% 70,300 $10.2M No change
VRSN Verisign Inc. 0.13% 40,200 $10.1M No change
VLTO Veralto Corp. 0.12% 111,000 $9.8M No change
VRSK Verisk Analytics Inc. 0.12% 54,280 $9.7M Reduce -11.6%
RMD Resmed Inc. 0.12% 48,605 $9.5M Add +406.0%
L Loews Corp. 0.09% 63,400 $7.2M Reduce -16.0%
ALL Allstate Corp. 0.09% 29,800 $7.1M New
RPM RPM International Inc. 0.09% 63,100 $7.0M New
MNST Monster Beverage Corp. 0.08% 64,700 $6.2M No change
TRV The Travelers Cos Inc. 0.06% 13,800 $4.6M Reduce -23.3%
PM Philip Morris International 0.05% 23,040 $4.2M No change
MPC Marathon Petroleum Corp. 0.05% 15,200 $3.9M New
FOXA Fox Corp. Class A 0.04% 65,100 $3.4M No change
DPZ Domino's Pizza Inc. 0.04% 9,700 $2.9M No change
BR Broadridge Financial Solutio 0.03% 17,700 $2.4M No change
KR Kroger Co. 0.03% 37,110 $2.1M No change
CRWD CrowdStrike Holdings Inc. Class A 0.02% 2,190 $1.7M New

Portfolio Sells Q1 2026 → Q2 2026
MSFT Microsoft Corp. Reduce -39.1% 2.89% −2.45
PANW Palo Alto Networks Inc. Sold out 0.00% −2.24
IDXX Idexx Laboratories Inc. Reduce -82.3% 0.30% −1.75
LNG Cheniere Energy Inc. Reduce -31.4% 1.76% −1.69
ORLY O'reilly Automotive Inc. Sold out 0.00% −1.52
NOW ServiceNow Inc. Sold out 0.00% −1.33
META Meta Platforms Inc. Class A Reduce -14.3% 2.42% −0.83
NEE Nextera Energy Inc. Reduce -11.7% 2.27% −0.81
EQIX Equinix Inc. Reduce -20.6% 2.15% −0.73
BKNG Booking Holdings Inc. Sold out 0.00% −0.69
SYK Stryker Corp. Reduce -16.8% 1.61% −0.68
WMT Walmart Inc. Sold out 0.00% −0.60
TMO Thermo Fisher Scientific Inc. Reduce -12.2% 2.26% −0.60
PEG Public Service Enterprise GP Reduce -21.0% 1.39% −0.60
CEG Constellation Energy Reduce -1.9% 1.94% −0.58
GILD Gilead Sciences Inc. Reduce -0.6% 2.06% −0.53
MAR Marriott International Class A Sold out 0.00% −0.50
AMZN Amazon.com Inc. Reduce -11.2% 2.98% −0.34
MCK McKesson Corp. Reduce -1.9% 1.02% −0.33
GDDY GoDaddy Inc. Class A Sold out 0.00% −0.31
UHS Universal Health Services-B Sold out 0.00% −0.24
MA Mastercard Inc. Class A Reduce -1.0% 1.87% −0.21
IT Gartner Inc. Sold out 0.00% −0.21
VZ Verizon Communications Inc. Reduce -4.7% 0.36% −0.15
FAST Fastenal Co. Reduce -1.8% 1.00% −0.11
OTIS Otis Worldwide Corp. Reduce -3.7% 0.36% −0.09
CF CF Industries Holdings Inc. Reduce -7.2% 0.20% −0.09
CMCSA Comcast Corp. Class A Reduce -6.6% 0.20% −0.08
MO Altria Group Inc. Reduce -2.1% 1.14% −0.07
DOCU Docusign Inc. Sold out 0.00% −0.06
MDT Medtronic PLC Sold out 0.00% −0.06
SOLV Solventum Corp. Sold out 0.00% −0.04
VRSK Verisk Analytics Inc. Reduce -11.6% 0.12% −0.04
L Loews Corp. Reduce -16.0% 0.09% −0.02
TRV The Travelers Cos Inc. Reduce -23.3% 0.06% −0.02
TTAN Servicetitan Inc. Class A Sold out 0.00% −0.00
ABBV Abbvie Inc. Reduce -1.0% 2.51% +0.03
GWW WW Grainger Inc. Reduce -2.1% 0.92% +0.07
TXN Texas Instruments Inc. Reduce -22.5% 2.85% +0.14
QCOM Qualcomm Inc. Reduce -14.3% 1.88% +0.15
LRCX Lam Research Corp. Reduce -23.2% 4.11% +1.12

Portfolio Buys Q1 2026 → Q2 2026
ANET Arista Networks Inc. New 2.53% +2.53
BAC Bank of America Corp. New 2.50% +2.50
NVDA Nvidia Corp. Add +67.4% 5.93% +2.43
AAPL Apple Inc. Add +93.7% 4.80% +2.34
KLAC KLA Corp. Add +6.0% 3.51% +1.68
INSM Insmed Inc. New 0.81% +0.81
AVGO Broadcom Inc. Add +12.9% 4.05% +0.72
FTNT Fortinet Inc. New 0.60% +0.60
CSCO Cisco Systems Inc. Add +3.3% 1.74% +0.48
KEYS Keysight Technologies Inc. New 0.45% +0.45
GOOGL Alphabet Inc. Class A Add +1.0% 4.17% +0.41
APH Amphenol Corp. Class A Add +1.2% 1.90% +0.38
TT Trane Technologies PLC Add +131.1% 0.64% +0.38
FFIV F5 Inc. Add +245.7% 0.48% +0.37
ADI Analog Devices Inc. Add +102.5% 0.63% +0.35
PTC PTC Inc. Add +1421.0% 0.34% +0.30
V Visa Inc. Class A Add +12.1% 2.71% +0.30
NTAP Netapp Inc. Add +3.1% 1.03% +0.28
ADBE Adobe Inc. Add +146.3% 0.56% +0.26
GEN Gen Digital Inc. Add +98.6% 0.41% +0.23
HLT Hilton Worldwide Holdings Inc. Add +140.1% 0.38% +0.22
WDAY Workday Inc. Class A New 0.21% +0.21
TRGP Targa Resources Corp. New 0.19% +0.19
DECK Deckers Outdoor Corp. Add +608.8% 0.20% +0.17
FTV Fortive Corp. Add +55.5% 0.46% +0.16
TPR Tapestry Inc. Add +39.1% 0.66% +0.14
CDNS Cadence Design SYS Inc. Add +3.9% 0.69% +0.13
CAH Cardinal Health Inc. Add +52.1% 0.39% +0.13
NDSN Nordson Corp. New 0.13% +0.13
MTD Mettler-Toledo International Add +327.2% 0.17% +0.13
INTU Intuit Inc. Add +149.8% 0.42% +0.10
FNF Fidelity National Financial Add +190.2% 0.17% +0.10
HPQ HP Inc. Add +24.7% 0.49% +0.10
ALL Allstate Corp. New 0.09% +0.09
RMD Resmed Inc. Add +406.0% 0.12% +0.09
RPM RPM International Inc. New 0.09% +0.09
DGX Quest Diagnostics Inc. Add +91.3% 0.18% +0.08
AME Ametek Inc. Add +58.0% 0.17% +0.06
ROST Ross Stores Inc. Add +37.5% 0.30% +0.05
MPC Marathon Petroleum Corp. New 0.05% +0.05
ACN Accenture PLC Class A Add +113.0% 0.30% +0.05
EME Emcor Group Inc. Add +13.1% 0.30% +0.03
CRWD CrowdStrike Holdings Inc. Class A New 0.02% +0.02
CBOE Cboe Global Markets Inc. Add +48.7% 0.17% +0.02
ADSK Autodesk Inc. Add +44.9% 0.49% +0.02
ITW Illinois Tool Works Add +14.5% 0.30% +0.01
EXPE Expedia Group Inc. Add +1.1% 0.86% −0.01
CRM Salesforce Inc. Add +16.8% 0.44% −0.07
TJX TJX Companies Inc. Add +1.2% 0.51% −0.09
CTSH Cognizant Tech Solutions-A Add +16.3% 0.25% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 102$8.0BNVDA, AAPL, GOOGL, LRCX, AVGO
Q1 2026 103$7.0BMSFT, GOOGL, NVDA, LNG, AMZN
Q4 2025 106$8.5BMSFT, GOOGL, NVDA, AVGO, TMO
Q3 2025 117$7.4BMSFT, GOOGL, V, ABBV, AMZN
Q2 2025 210$7.1BMSFT, GILD, V, CCJ, CEG
Q1 2025 212$7.0BGILD, V, ABBV, MSFT, AAPL
Q4 2024 208$7.5BMSFT, NOW, AVGO, WMT, GOOGL
Q3 2024 215$8.3BMSFT, JNJ, NOW, WMT, ABBV
Q2 2024 219$8.4BMSFT, META, NOW, GOOGL, AMZN
Q1 2024 220$10.3BMSFT, ACN, META, TSM, NOW