Te Ahumairangi Investment Management Ltd

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Te Ahumairangi Investment Management Ltd reported 81 stock positions worth $478.5 million. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Verizon Communications (VZ, 6.1%) and Apple (AAPL, 5.4%). Compared with Q3 2024, it opened 1 new position, sold out of 3, added to 11 and reduced 68. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale CVS Health (CVS, shares −23%).

Most Recent 13F
Q2 2026
Location
WELLINGTON, Q2
CIK
0001832237
Portfolio Value
$478.5M (Q4 2024)
SEC Filing
0001832237-25-000001 ↗ filed Feb 12, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $575.5M Q1 2024 Q2 2024: $520.5M Q2 2024 Q3 2024: $564.1M Q3 2024 Q4 2024: $478.5M $478.5M Q4 2024 Q1 2025: $472.5M Q1 2025 Q2 2025: $558.6M Q2 2025 Q3 2025: $588.5M Q3 2025 Q4 2025: $558.1M Q4 2025 Q1 2026: $597.0M Q1 2026 Q2 2026: $619.9M Q2 2026

Holdings 81 stocks · $478.5M

MSFT Microsoft Corp. 7.51% 85,232 $35.9M Reduce -12.9%
VZ Verizon Communications Inc. 6.07% 725,742 $29.0M Reduce -4.3%
AAPL Apple Inc. 5.42% 103,514 $25.9M Reduce -14.5%
GOOGL Alphabet Inc. Class A 4.44% 112,103 $21.2M Reduce -18.6%
EG Everest Group Ltd. 2.70% 35,580 $12.9M Reduce -1.4%
VRSN Verisign Inc. 2.66% 61,488 $12.7M Reduce -11.1%
T AT&T Inc. 2.44% 512,562 $11.7M Reduce -17.2%
CHKP Check Point Software Tech 2.27% 58,233 $10.9M Reduce -14.8%
C Citigroup Inc. 2.21% 150,062 $10.6M Reduce -26.0%
MRK Merck & Co. Inc. 2.20% 106,001 $10.5M Reduce -4.5%
V Visa Inc. Class A 1.90% 28,727 $9.1M Reduce -23.3%
META Meta Platforms Inc. Class A 1.86% 15,161 $8.9M Reduce -11.1%
KR Kroger Co. 1.76% 137,873 $8.4M Reduce -23.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.76% 7,984 $8.4M Reduce -22.3%
CSCO Cisco Systems Inc. 1.75% 141,078 $8.4M Reduce -18.1%
JNJ Johnson & Johnson 1.54% 51,065 $7.4M Add +0.6%
WMT Walmart Inc. 1.51% 80,206 $7.2M Reduce -29.6%
AVGO Broadcom Inc. 1.46% 30,226 $7.0M Reduce -21.7%
PG The Procter & Gamble Co. 1.45% 41,322 $6.9M Reduce -3.1%
DGX Quest Diagnostics Inc. 1.36% 43,194 $6.5M Reduce -13.6%
ED Consolidated Edison Inc. 1.36% 72,698 $6.5M Add +5.8%
TRV The Travelers Cos Inc. 1.32% 26,246 $6.3M Reduce -12.9%
DVA Davita Inc. 1.32% 42,170 $6.3M Reduce -12.4%
HCA HCA Healthcare Inc. 1.31% 20,907 $6.3M Reduce -1.6%
STLA Stellantis NV 1.28% 470,500 $6.1M Reduce -12.6%
KHC The Kraft Heinz Co. 1.19% 184,883 $5.7M Reduce -1.7%
CI The Cigna Group 1.15% 20,010 $5.5M Reduce -1.6%
PFE Pfizer Inc. 1.11% 199,423 $5.3M Reduce -6.2%
GILD Gilead Sciences Inc. 1.09% 56,621 $5.2M Reduce -29.9%
AMZN Amazon.com Inc. 1.08% 23,517 $5.2M Reduce -15.7%
LH Labcorp Holdings Inc. 1.06% 22,207 $5.1M Reduce -13.2%
VRTX Vertex Pharmaceuticals Inc. 1.04% 12,413 $5.0M Reduce -6.9%
SKX Skechers USA Inc. Class A 1.04% 74,287 $5.0M Reduce -17.4%
MCK McKesson Corp. 1.01% 8,504 $4.8M Reduce -27.5%
GIS General Mills Inc. 1.00% 74,863 $4.8M Add +3.8%
HPQ HP Inc. 0.99% 145,489 $4.7M Reduce -9.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.99% 21,537 $4.7M Reduce -35.4%
AEM Agnico Eagle Mines Ltd. 0.97% 59,442 $4.6M Reduce -6.3%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.96% 41,639 $4.6M Reduce -5.2%
WPC WP Carey Inc. 0.96% 84,027 $4.6M Add +4.7%
GM General Motors Co. 0.95% 85,212 $4.5M Reduce -15.4%
NEM Newmont Corp. 0.93% 120,168 $4.5M Reduce -7.4%
CL Colgate-Palmolive Co. 0.93% 48,957 $4.5M Add +11.4%
QCOM Qualcomm Inc. 0.93% 28,901 $4.4M Reduce -23.0%
ELV Elevance Health Inc. 0.93% 12,020 $4.4M Add +14.4%
PSA Public Storage 0.90% 14,402 $4.3M Reduce -2.4%
BMY Bristol-Myers Squibb Co. 0.86% 73,144 $4.1M Reduce -32.9%
ACI Albertsons Cos Inc. Class A 0.86% 210,572 $4.1M Reduce -34.7%
CVS CVS Health Corp. 0.86% 91,862 $4.1M Reduce -22.8%
ORCL Oracle Corp. 0.86% 24,718 $4.1M Reduce -23.6%
ABBV Abbvie Inc. 0.86% 23,072 $4.1M Add +4.6%
MDT Medtronic PLC 0.85% 50,991 $4.1M Reduce -2.5%
RY Royal Bank of Canada 0.78% 30,940 $3.7M Reduce -12.9%
CAH Cardinal Health Inc. 0.73% 29,716 $3.5M Reduce -21.4%
UNH Unitedhealth Group Inc. 0.72% 6,776 $3.4M Reduce -12.9%
TD Toronto-Dominion Bank 0.71% 63,581 $3.4M Add +21.1%
ARW Arrow Electronics Inc. 0.70% 29,577 $3.3M Reduce -7.1%
EXC Exelon Corp. 0.67% 84,703 $3.2M Reduce -1.1%
WPM Wheaton Precious Metals Corp. 0.66% 56,039 $3.2M Reduce -16.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.63% 27,013 $3.0M Reduce -27.2%
KGC Kinross Gold Corp. 0.55% 281,800 $2.6M Reduce -5.7%
PEP Pepsico Inc. 0.54% 17,004 $2.6M Add +2.3%
GDDY GoDaddy Inc. Class A 0.53% 12,940 $2.6M Reduce -13.8%
CVX Chevron Corp. 0.52% 17,199 $2.5M Reduce -22.6%
MRSH Marsh & McLennan Cos 0.51% 11,395 $2.4M Add +8.5%
JBL Jabil Inc. 0.49% 16,267 $2.3M Reduce -21.7%
XOM Exxon Mobil Corp. 0.48% 21,411 $2.3M Add +0.6%
DUK Duke Energy Corp. 0.46% 20,449 $2.2M Reduce -12.4%
UPS United Parcel Service Class B 0.41% 15,436 $1.9M Reduce -10.4%
SBRA Sabra Health Care REIT Inc. 0.40% 111,306 $1.9M Reduce -16.1%
ACN Accenture PLC Class A 0.40% 5,374 $1.9M Reduce -20.0%
ROIV Roivant Sciences Ltd. 0.39% 158,011 $1.9M Reduce -21.6%
AZO AutoZone Inc. 0.38% 566 $1.8M Reduce -39.9%
GOOG Alphabet Inc. Class C 0.38% 9,502 $1.8M Reduce -33.8%
RIO Rio Tinto PLC-Spon ADR 0.21% 17,472 $1.0M No change
UBER Uber Technologies Inc. 0.17% 13,750 $829K New
SMFG Sumitomo Mitsui-Spons ADR 0.12% 39,657 $575K Reduce -54.4%
NFLX Netflix Inc. 0.10% 535 $477K Reduce -34.4%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.09% 35,454 $416K Reduce -52.4%
OGN Organon & Co. 0.04% 12,531 $187K Reduce -13.2%
VTRS Viatris Inc. 0.02% 6,864 $85K Reduce -61.6%

Portfolio Sells Q3 2024 → Q4 2024

CVS CVS Health Corp. Reduce -22.8% 0.86% −0.46
ADBE Adobe Inc. Sold out 0.00% −0.41
ULTA Ulta Beauty Inc. Sold out 0.00% −0.33
IBM Intl Business Machines Corp. Reduce -35.4% 0.99% −0.31
NEM Newmont Corp. Reduce -7.4% 0.93% −0.29
HCA HCA Healthcare Inc. Reduce -1.6% 1.31% −0.21
QCOM Qualcomm Inc. Reduce -23.0% 0.93% −0.20
ACI Albertsons Cos Inc. Class A Reduce -34.7% 0.86% −0.19
AZO AutoZone Inc. Reduce -39.9% 0.38% −0.14
BMY Bristol-Myers Squibb Co. Reduce -32.9% 0.86% −0.13
GWW WW Grainger Inc. Reduce -22.3% 1.76% −0.12
ORCL Oracle Corp. Reduce -23.6% 0.86% −0.11
WMT Walmart Inc. Reduce -29.6% 1.51% −0.11
GILD Gilead Sciences Inc. Reduce -29.9% 1.09% −0.10
CI The Cigna Group Reduce -1.6% 1.15% −0.09
UNH Unitedhealth Group Inc. Reduce -12.9% 0.72% −0.09
MFG Mizuho Financial Group-ADR Sold out 0.00% −0.07
SMFG Sumitomo Mitsui-Spons ADR Reduce -54.4% 0.12% −0.07
DVA Davita Inc. Reduce -12.4% 1.32% −0.07
WPM Wheaton Precious Metals Corp. Reduce -16.9% 0.66% −0.07
CVX Chevron Corp. Reduce -22.6% 0.52% −0.06
KR Kroger Co. Reduce -23.3% 1.76% −0.05
CHKP Check Point Software Tech Reduce -14.8% 2.27% −0.05
VRTX Vertex Pharmaceuticals Inc. Reduce -6.9% 1.04% −0.05
MUFG Mitsubishi Ufj Finl-Spon ADR Reduce -52.4% 0.09% −0.05
ARW Arrow Electronics Inc. Reduce -7.1% 0.70% −0.05
PSA Public Storage Reduce -2.4% 0.90% −0.04
GOOG Alphabet Inc. Class C Reduce -33.8% 0.38% −0.04
SBRA Sabra Health Care REIT Inc. Reduce -16.1% 0.40% −0.03
STLA Stellantis NV Reduce -12.6% 1.28% −0.03
C Citigroup Inc. Reduce -26.0% 2.21% −0.03
HPQ HP Inc. Reduce -9.9% 0.99% −0.03
ACN Accenture PLC Class A Reduce -20.0% 0.40% −0.02
ROIV Roivant Sciences Ltd. Reduce -21.6% 0.39% −0.02
MRK Merck & Co. Inc. Reduce -4.5% 2.20% −0.02
VTRS Viatris Inc. Reduce -61.6% 0.02% −0.02
SKX Skechers USA Inc. Class A Reduce -17.4% 1.04% −0.02
DUK Duke Energy Corp. Reduce -12.4% 0.46% −0.01
OGN Organon & Co. Reduce -13.2% 0.04% −0.01
MCK McKesson Corp. Reduce -27.5% 1.01% −0.01
UPS United Parcel Service Class B Reduce -10.4% 0.41% −0.01
DGX Quest Diagnostics Inc. Reduce -13.6% 1.36% −0.01
RY Royal Bank of Canada Reduce -12.9% 0.78% −0.00
NFLX Netflix Inc. Reduce -34.4% 0.10% −0.00
CAH Cardinal Health Inc. Reduce -21.4% 0.73% −0.00
DIS The Walt Disney Co. Reduce -27.2% 0.63% −0.00
SJM The JM Smucker Co. Reduce -5.2% 0.96% +0.02
MDT Medtronic PLC Reduce -2.5% 0.85% +0.02
PFE Pfizer Inc. Reduce -6.2% 1.11% +0.02
KHC The Kraft Heinz Co. Reduce -1.7% 1.19% +0.02

Portfolio Buys Q3 2024 → Q4 2024

UBER Uber Technologies Inc. New 0.17% +0.17
CL Colgate-Palmolive Co. Add +11.4% 0.93% +0.13
TD Toronto-Dominion Bank Add +21.1% 0.71% +0.12
ED Consolidated Edison Inc. Add +5.8% 1.36% +0.10
JNJ Johnson & Johnson Add +0.6% 1.54% +0.09
MRSH Marsh & McLennan Cos Add +8.5% 0.51% +0.09
ABBV Abbvie Inc. Add +4.6% 0.86% +0.09
WPC WP Carey Inc. Add +4.7% 0.96% +0.08
GIS General Mills Inc. Add +3.8% 1.00% +0.06
PEP Pepsico Inc. Add +2.3% 0.54% +0.04
XOM Exxon Mobil Corp. Add +0.6% 0.48% +0.04
ELV Elevance Health Inc. Add +14.4% 0.93% −0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 86$619.9MMSFT, VZ, AAPL, GOOGL, EG
Q1 2026 86$597.0MMSFT, VZ, AAPL, GOOGL, EG
Q4 2025 84$558.1MMSFT, VZ, GOOGL, AAPL, EG
Q3 2025 84$588.5MMSFT, VZ, AAPL, GOOGL, EG
Q2 2025 87$558.6MMSFT, VZ, AAPL, GOOGL, EG
Q1 2025 84$472.5MMSFT, VZ, AAPL, GOOGL, EG
Q4 2024 81$478.5MMSFT, VZ, AAPL, GOOGL, EG
Q3 2024 83$564.1MMSFT, VZ, AAPL, GOOGL, EG
Q2 2024 86$520.5MMSFT, VZ, AAPL, GOOGL, CHKP
Q1 2024 84$575.5MMSFT, VZ, AAPL, GOOGL, MRK