USS Investment Management Ltd
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), USS Investment Management Ltd reported 535 stock positions worth $13.6 billion. Its top holding was Microsoft (MSFT) at 6.2% of the portfolio, followed by Apple (AAPL, 4.6%) and Nvidia (NVDA, 3.9%). Compared with Q2 2024, it opened 13 new positions, sold out of 29, added to 277 and reduced 127. The biggest buy was Icon (ICLR, shares +3931%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001587381
- Portfolio Value
- $13.6B (Q3 2024)
- SEC Filing
- 0000919574-24-006389 ↗ filed Nov 13, 2024
Holdings Value
Holdings 535 stocks · $13.6B
| MSFT Microsoft Corp. | 6.20% | 1,960,318 | $843.4M | Reduce -0.7% |
| AAPL Apple Inc. | 4.55% | 2,660,632 | $619.9M | Reduce -3.7% |
| NVDA Nvidia Corp. | 3.88% | 4,349,032 | $528.4M | Reduce -1.9% |
| V Visa Inc. Class A | 2.19% | 1,086,881 | $298.7M | Reduce -0.2% |
| HD Home Depot Inc. | 2.08% | 700,291 | $283.6M | Reduce -0.1% |
| UNH Unitedhealth Group Inc. | 2.02% | 470,062 | $274.8M | Reduce -0.5% |
| ACN Accenture PLC Class A | 2.00% | 770,596 | $272.3M | Add +0.7% |
| SPGI S&P Global Inc. | 1.91% | 501,997 | $259.3M | Reduce -6.2% |
| OTIS Otis Worldwide Corp. | 1.77% | 2,315,988 | $240.7M | Add +0.0% |
| META Meta Platforms Inc. Class A | 1.70% | 404,434 | $231.5M | Reduce -1.0% |
| MAR Marriott International Class A | 1.70% | 929,065 | $230.9M | Reduce -0.1% |
| JNJ Johnson & Johnson | 1.65% | 1,383,394 | $224.1M | Reduce -0.1% |
| AON Aon PLC Class A | 1.64% | 646,941 | $223.8M | Reduce -0.1% |
| VRSK Verisk Analytics Inc. | 1.60% | 812,298 | $217.7M | Reduce -7.5% |
| FERG Ferguson Enterprises Inc. | 1.59% | 1,089,005 | $216.2M | No change |
| YUM Yum! Brands Inc. | 1.55% | 1,506,130 | $210.4M | Add +0.1% |
| FAST Fastenal Co. | 1.51% | 2,871,984 | $205.1M | Add +0.0% |
| MDT Medtronic PLC | 1.50% | 2,274,375 | $204.8M | Add +0.0% |
| PG The Procter & Gamble Co. | 1.43% | 1,121,317 | $194.2M | Reduce -5.3% |
| GOOGL Alphabet Inc. Class A | 1.15% | 940,680 | $156.1M | Reduce -0.6% |
| AVGO Broadcom Inc. | 1.13% | 893,853 | $154.1M | Reduce -2.8% |
| ICLR Icon PLC | 1.06% | 504,540 | $144.9M | Add +3931.2% |
| LLY Eli Lilly & Co. | 1.04% | 160,603 | $142.2M | Reduce -1.4% |
| GOOG Alphabet Inc. Class C | 1.00% | 815,075 | $136.3M | Add +2.5% |
| CL Colgate-Palmolive Co. | 0.98% | 1,279,525 | $132.8M | Reduce -23.4% |
| PEP Pepsico Inc. | 0.88% | 708,478 | $120.5M | Reduce -16.8% |
| CDNS Cadence Design SYS Inc. | 0.77% | 388,902 | $105.4M | Add +15.8% |
| ICE Intercontinental Exchange Inc. | 0.77% | 656,051 | $105.4M | Add +466.2% |
| JPM JPMorgan Chase & Co. | 0.70% | 453,622 | $95.6M | Reduce -2.4% |
| ABBV Abbvie Inc. | 0.70% | 484,163 | $95.6M | Reduce -0.4% |
| MA Mastercard Inc. Class A | 0.58% | 158,864 | $78.4M | Reduce -2.0% |
| KO The Coca-Cola Co. | 0.57% | 1,080,906 | $77.7M | No change |
| VWOB Vanguard Emerg MKTS Gov BND | 0.56% | 1,141,775 | $75.8M | No change |
| COST Costco Wholesale Corp. | 0.55% | 83,713 | $74.2M | No change |
| MCHI iShares MSCI China ETF | 0.53% | 1,417,417 | $72.1M | Add +533.3% |
| VZ Verizon Communications Inc. | 0.52% | 1,575,840 | $70.8M | Add +0.0% |
| PDD PDD Holdings Inc. | 0.48% | 486,775 | $65.6M | Add +14.9% |
| WMT Walmart Inc. | 0.48% | 810,288 | $65.4M | Add +1.6% |
| PFE Pfizer Inc. | 0.43% | 2,023,632 | $58.6M | No change |
| CSCO Cisco Systems Inc. | 0.42% | 1,065,059 | $56.7M | Add +0.1% |
| LIN Linde PLC | 0.40% | 113,476 | $54.1M | Add +1.0% |
| MELI MercadoLibre Inc. | 0.40% | 26,234 | $53.8M | Reduce -18.1% |
| ORCL Oracle Corp. | 0.39% | 312,085 | $53.2M | Reduce -2.3% |
| EWM iShares MSCI Malaysia ETF | 0.39% | 1,961,403 | $53.0M | No change |
| MCD McDonald's Corp. | 0.36% | 162,898 | $49.6M | Add +0.1% |
| TXN Texas Instruments Inc. | 0.36% | 235,829 | $48.7M | Reduce -1.8% |
| NFLX Netflix Inc. | 0.35% | 67,820 | $48.1M | Reduce -4.7% |
| MRK Merck & Co. Inc. | 0.35% | 423,016 | $48.0M | Reduce -1.2% |
| TMO Thermo Fisher Scientific Inc. | 0.35% | 77,313 | $47.8M | Reduce -0.0% |
| SMCI Super Micro Computer Inc. | 0.35% | 114,050 | $47.5M | New |
| XOM Exxon Mobil Corp. | 0.33% | 385,000 | $45.1M | No change |
| AMGN Amgen Inc. | 0.33% | 138,249 | $44.5M | Reduce -0.6% |
| ABT Abbott Laboratories | 0.32% | 383,059 | $43.7M | Add +0.0% |
| GFI Gold Fields Ltd.-Spons ADR | 0.32% | 2,843,689 | $43.7M | Add +29.9% |
| FMX Fomento Economico Mex-SP ADR | 0.32% | 440,237 | $43.5M | Add +11.9% |
| AMD Advanced Micro Devices | 0.32% | 263,911 | $43.3M | Reduce -1.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 1,085,822 | $43.1M | Reduce -2.5% |
| NEE Nextera Energy Inc. | 0.31% | 502,288 | $42.5M | Reduce -0.9% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.31% | 3,052,236 | $41.7M | Add +47.2% |
| CRM Salesforce Inc. | 0.30% | 151,544 | $41.5M | Reduce -1.0% |
| CMCSA Comcast Corp. Class A | 0.30% | 969,930 | $40.5M | Reduce -1.2% |
| YUMC Yum China Holdings Inc. | 0.29% | 882,318 | $39.7M | Add +961.4% |
| QCOM Qualcomm Inc. | 0.29% | 232,954 | $39.6M | Reduce -4.0% |
| UNP Union Pacific Corp. | 0.28% | 153,249 | $37.8M | Add +8.1% |
| DHR Danaher Corp. | 0.28% | 135,554 | $37.7M | Reduce -0.7% |
| ADBE Adobe Inc. | 0.27% | 71,371 | $37.0M | Reduce -3.7% |
| AMAT Applied Materials Inc. | 0.27% | 179,000 | $36.2M | Reduce -4.8% |
| GE General Electric filed as GE AEROSPACE | 0.26% | 187,780 | $35.4M | Add +19.4% |
| CAT Caterpillar Inc. | 0.26% | 89,334 | $34.9M | Add +15.8% |
| LOW Lowe's Cos Inc. | 0.25% | 123,496 | $33.4M | No change |
| INTU Intuit Inc. | 0.24% | 52,797 | $32.8M | Reduce -1.3% |
| WFC Wells Fargo & Co. | 0.23% | 558,722 | $31.5M | Reduce -3.9% |
| AXP American Express Co. | 0.23% | 116,126 | $31.5M | Reduce -3.6% |
| TME Tencent Music Entertainm-ADR | 0.23% | 2,599,961 | $31.3M | No change |
| UPS United Parcel Service Class B | 0.23% | 228,714 | $31.2M | Add +1.0% |
| ISRG Intuitive Surgical Inc. | 0.23% | 62,912 | $30.9M | Reduce -1.6% |
| BLK BlackRock Finance Inc. | 0.23% | 32,405 | $30.8M | Reduce -0.1% |
| CVX Chevron Corp. | 0.22% | 204,100 | $30.1M | No change |
| NOW ServiceNow Inc. | 0.22% | 33,372 | $29.8M | Reduce -1.5% |
| MMM 3M Co. | 0.22% | 214,632 | $29.3M | Add +0.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.21% | 297,418 | $28.6M | No change |
| GLOB Globant SA | 0.21% | 141,731 | $28.1M | Add +23.8% |
| RY Royal Bank of Canada | 0.20% | 223,082 | $27.8M | No change |
| BX Blackstone Inc. | 0.20% | 180,226 | $27.6M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.20% | 372,403 | $27.4M | Add +0.9% |
| UBER Uber Technologies Inc. | 0.20% | 359,594 | $27.0M | Add +4.0% |
| CVS CVS Health Corp. | 0.20% | 425,350 | $26.7M | Add +1.6% |
| ADI Analog Devices Inc. | 0.20% | 115,922 | $26.7M | Reduce -3.6% |
| ADP Automatic Data Processing | 0.19% | 95,897 | $26.5M | Add +0.1% |
| GS Goldman Sachs Group Inc. | 0.19% | 52,766 | $26.1M | Reduce -4.9% |
| WM Waste Management Inc. | 0.19% | 125,674 | $26.1M | Add +1.8% |
| DUK Duke Energy Corp. | 0.19% | 226,178 | $26.1M | Add +1.9% |
| ELV Elevance Health Inc. | 0.19% | 49,816 | $25.9M | Add +0.0% |
| T AT&T Inc. | 0.19% | 1,166,064 | $25.6M | No change |
| NKE Nike Inc. Class B | 0.18% | 282,691 | $25.0M | Add +4.9% |
| KLAC KLA Corp. | 0.18% | 32,045 | $24.8M | Reduce -8.0% |
| SYK Stryker Corp. | 0.18% | 68,593 | $24.8M | Reduce -1.1% |
| LRCX Lam Research Corp. | 0.18% | 30,012 | $24.5M | Reduce -6.8% |
| PGR Progressive Corp. | 0.17% | 93,373 | $23.7M | No change |
| BKNG Booking Holdings Inc. | 0.17% | 5,615 | $23.6M | Reduce -3.5% |
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -0.7% | 6.20% | −0.87 |
| NVDA Nvidia Corp. | Reduce -1.9% | 3.88% | −0.50 |
| CL Colgate-Palmolive Co. | Reduce -23.4% | 0.98% | −0.32 |
| VRSK Verisk Analytics Inc. | Reduce -7.5% | 1.60% | −0.30 |
| PEP Pepsico Inc. | Reduce -16.8% | 0.88% | −0.24 |
| GOOGL Alphabet Inc. Class A | Reduce -0.6% | 1.15% | −0.23 |
| PG The Procter & Gamble Co. | Reduce -5.3% | 1.43% | −0.14 |
| LLY Eli Lilly & Co. | Reduce -1.4% | 1.04% | −0.14 |
| TEL Te Connectivity Ltd. | Sold out | 0.00% | −0.13 |
| MAR Marriott International Class A | Reduce -0.1% | 1.70% | −0.11 |
| AAPL Apple Inc. | Reduce -3.7% | 4.55% | −0.10 |
| QCOM Qualcomm Inc. | Reduce -4.0% | 0.29% | −0.10 |
| V Visa Inc. Class A | Reduce -0.2% | 2.19% | −0.10 |
| LRCX Lam Research Corp. | Reduce -6.8% | 0.18% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -4.8% | 0.27% | −0.09 |
| VALE Vale SA-SP ADR | Reduce -38.4% | 0.11% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -1.2% | 0.35% | −0.07 |
| MU Micron Technology Inc. | Reduce -6.6% | 0.15% | −0.07 |
| ADBE Adobe Inc. | Reduce -3.7% | 0.27% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -2.4% | 0.70% | −0.05 |
| AVGO Broadcom Inc. | Reduce -2.8% | 1.13% | −0.05 |
| KLAC KLA Corp. | Reduce -8.0% | 0.18% | −0.05 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -3.9% | 0.23% | −0.04 |
| UDR Udr Inc. | Sold out | 0.00% | −0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -2.8% | 0.08% | −0.04 |
| INTU Intuit Inc. | Reduce -1.3% | 0.24% | −0.04 |
| HST Host Hotels & Resorts Inc. | Sold out | 0.00% | −0.04 |
| EW Edwards Lifesciences Corp. | Reduce -5.6% | 0.06% | −0.04 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.04 |
| MRNA Moderna Inc. | Reduce -3.4% | 0.04% | −0.04 |
| BAC Bank of America Corp. | Reduce -2.5% | 0.32% | −0.04 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.04 |
| WPC WP Carey Inc. | Sold out | 0.00% | −0.04 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.04 |
| AMD Advanced Micro Devices | Reduce -1.9% | 0.32% | −0.03 |
| NFLX Netflix Inc. | Reduce -4.7% | 0.35% | −0.03 |
| ALB Albemarle Corp. | Sold out | 0.00% | −0.03 |
| HSIC Henry Schein Inc. | Sold out | 0.00% | −0.03 |
| SJM The JM Smucker Co. | Reduce -55.9% | 0.02% | −0.03 |
| TAP Molson Coors Beverage Co. Class B | Reduce -60.9% | 0.02% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -18.1% | 0.40% | −0.03 |
| MCK McKesson Corp. | Reduce -0.2% | 0.09% | −0.03 |
| NXPI NXP Semiconductors NV | Reduce -4.9% | 0.09% | −0.02 |
| ADI Analog Devices Inc. | Reduce -3.6% | 0.20% | −0.02 |
| ABNB Airbnb Inc. Class A | Reduce -2.5% | 0.07% | −0.02 |
| TECK Teck Resources Ltd.-CLS B | Reduce -41.2% | 0.03% | −0.02 |
| MCHP Microchip Technology Inc. | Reduce -2.6% | 0.08% | −0.02 |
| NTAP Netapp Inc. | Reduce -14.3% | 0.07% | −0.02 |
| SWK Stanley Black & Decker Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2024 → Q3 2024
| ICLR Icon PLC | Add +3931.2% | 1.06% | +1.03 |
| ICE Intercontinental Exchange Inc. | Add +466.2% | 0.77% | +0.65 |
| MCHI iShares MSCI China ETF | Add +533.3% | 0.53% | +0.45 |
| SMCI Super Micro Computer Inc. | New | 0.35% | +0.35 |
| YUMC Yum China Holdings Inc. | Add +961.4% | 0.29% | +0.27 |
| MMYT Makemytrip Ltd. | New | 0.15% | +0.15 |
| ACN Accenture PLC Class A | Add +0.7% | 2.00% | +0.14 |
| EWY iShares MSCI South Korea ETF | New | 0.12% | +0.12 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +47.2% | 0.31% | +0.09 |
| SLB SLB Ltd. | New | 0.08% | +0.08 |
| BABA Alibaba Group Holding-SP ADR | New | 0.08% | +0.08 |
| MPWR Monolithic Power Systems Inc. | Add +266.5% | 0.10% | +0.08 |
| EOG EOG Resources Inc. | New | 0.08% | +0.08 |
| MDT Medtronic PLC | Add +0.0% | 1.50% | +0.07 |
| FAST Fastenal Co. | Add +0.0% | 1.51% | +0.06 |
| GE General Electric | Add +19.4% | 0.26% | +0.06 |
| GFI Gold Fields Ltd.-Spons ADR | Add +29.9% | 0.32% | +0.06 |
| CAT Caterpillar Inc. | Add +15.8% | 0.26% | +0.05 |
| ZBRA Zebra Technologies Corp. Class A | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +1.6% | 0.48% | +0.05 |
| GLOB Globant SA | Add +23.8% | 0.21% | +0.04 |
| MMM 3M Co. | Add +0.9% | 0.22% | +0.04 |
| TT Trane Technologies PLC | Add +66.0% | 0.09% | +0.04 |
| CARR Carrier Global Corp. | Add +38.5% | 0.09% | +0.03 |
| MCD McDonald's Corp. | Add +0.1% | 0.36% | +0.03 |
| PDD PDD Holdings Inc. | Add +14.9% | 0.48% | +0.03 |
| ARM Arm Holdings PLC-ADR | New | 0.03% | +0.03 |
| CBRE CBRE Group Inc. Class A | Add +259.6% | 0.04% | +0.03 |
| EWT iShares MSCI Taiwan ETF | Add +34.9% | 0.16% | +0.03 |
| JCI Johnson Controls Internation | Add +56.3% | 0.07% | +0.03 |
| DKNG Draftkings Inc. Class A | New | 0.03% | +0.03 |
| DHI D.R. Horton Inc. | Add +4.5% | 0.11% | +0.02 |
| BX Blackstone Inc. | Add +0.1% | 0.20% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +3.6% | 0.15% | +0.02 |
| PCAR Paccar Inc. | Add +91.3% | 0.06% | +0.02 |
| PEG Public Service Enterprise GP | Add +26.8% | 0.07% | +0.02 |
| PHM Pultegroup Inc. | Add +19.2% | 0.07% | +0.02 |
| O Realty Income Corp. | Add +17.9% | 0.09% | +0.02 |
| NKE Nike Inc. Class B | Add +4.9% | 0.18% | +0.02 |
| OKE Oneok Inc. | Add +19.5% | 0.11% | +0.02 |
| GILD Gilead Sciences Inc. | Add +3.4% | 0.15% | +0.02 |
| UNP Union Pacific Corp. | Add +8.1% | 0.28% | +0.02 |
| CAH Cardinal Health Inc. | Add +65.7% | 0.05% | +0.02 |
| CRH CRH PLC | Add +13.0% | 0.09% | +0.02 |
| TRP TC Energy Corp. | Add +31.1% | 0.06% | +0.02 |
| WEC WEC Energy Group Inc. | Add +24.0% | 0.06% | +0.02 |
| HCA HCA Healthcare Inc. | Add +0.0% | 0.12% | +0.02 |
| GEHC GE Healthcare Technology | Add +13.7% | 0.08% | +0.02 |
| DASH DoorDash Inc. Class A | Add +2.7% | 0.09% | +0.02 |
| XEL Xcel Energy Inc. | Add +10.3% | 0.08% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 617 | $25.4B | SPYM, VOO, IVV, NVDA, AMZN |
| Q1 2026 | 512 | $23.6B | SPYM, VOO, IVV, NVDA, MSFT |
| Q4 2025 | 508 | $20.1B | SPYM, MSFT, NVDA, AAPL, AMZN |
| Q3 2025 | 526 | $20.8B | SPYM, MSFT, NVDA, VOO, IVV |
| Q2 2025 | 523 | $15.9B | SPYM, MSFT, NVDA, AAPL, V |
| Q1 2025 | 533 | $13.2B | SPYM, MSFT, AAPL, NVDA, V |
| Q4 2024 | 554 | $13.8B | MSFT, AAPL, NVDA, V, AMZN |
| Q3 2024 | 535 | $13.6B | MSFT, AAPL, NVDA, V, HD |
| Q2 2024 | 551 | $12.5B | MSFT, AAPL, NVDA, V, HD |
| Q1 2024 | 542 | $12.1B | MSFT, AAPL, NVDA, V, HD |