# Railway Pension Investments Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1658020. Source: https://holderbook.com/funds/1658020-railway-pension-investments-ltd/

- Reported value: $8.0B
- Positions: 102
- Weight of the ten largest: 38.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $471.5M | 2,356,300 | 5.9% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $382.2M | 1,320,786 | 4.8% | 27 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $332.0M | 929,030 | 4.2% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $327.0M | 754,700 | 4.1% | 3 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $321.9M | 852,192 | 4.0% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $279.6M | 926,652 | 3.5% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $237.4M | 996,040 | 3.0% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $230.2M | 617,170 | 2.9% | 29 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $226.6M | 760,371 | 2.8% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $215.7M | 628,679 | 2.7% | 31 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $201.3M | 1,184,850 | 2.5% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $199.5M | 792,949 | 2.5% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $198.6M | 3,485,400 | 2.5% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $192.8M | 342,200 | 2.4% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $180.5M | 2,056,432 | 2.3% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $180.0M | 358,970 | 2.3% | 31 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $170.9M | 163,989 | 2.1% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $165.1M | 650,036 | 2.1% | 31 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $163.7M | 1,295,596 | 2.1% | 31 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $154.2M | 620,960 | 1.9% | 13 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $151.1M | 857,100 | 1.9% | 11 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $149.2M | 807,400 | 1.9% | 11 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $148.8M | 289,640 | 1.9% | 7 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $140.1M | 586,260 | 1.8% | 13 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $138.0M | 1,175,076 | 1.7% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $128.4M | 407,720 | 1.6% | 10 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $110.4M | 1,360,650 | 1.4% | 6 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $91.0M | 1,264,600 | 1.1% | 24 |
| NETAPP INC | [NTAP](https://holderbook.com/stocks/NTAP/) | $82.2M | 531,250 | 1.0% | 31 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $81.3M | 107,642 | 1.0% | 28 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $79.5M | 1,656,050 | 1.0% | 31 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $73.5M | 54,048 | 0.9% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $71.8M | 73,400 | 0.9% | 13 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $68.7M | 268,659 | 0.9% | 6 |
| INSMED INC | [INSM](https://holderbook.com/stocks/INSM/) | $64.5M | 604,700 | 0.8% | 1 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $60.0M | 1,040,700 | 0.8% | 31 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $54.9M | 146,200 | 0.7% | 3 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $52.2M | 356,576 | 0.7% | 3 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $51.1M | 104,000 | 0.6% | 9 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $50.0M | 125,940 | 0.6% | 2 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $47.6M | 309,800 | 0.6% | 1 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $44.6M | 217,760 | 0.6% | 11 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $40.9M | 270,200 | 0.5% | 13 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $39.2M | 1,785,815 | 0.5% | 28 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $38.9M | 200,292 | 0.5% | 7 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $37.9M | 91,010 | 0.5% | 9 |
| FORTIVE CORP | [FTV](https://holderbook.com/stocks/FTV/) | $36.9M | 604,400 | 0.5% | 2 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $36.3M | 155,700 | 0.5% | 9 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $36.1M | 103,120 | 0.5% | 1 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $36.0M | 92,447 | 0.5% | 31 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $35.5M | 85,560 | 0.4% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $34.9M | 223,000 | 0.4% | 6 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $34.2M | 121,580 | 0.4% | 10 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $33.4M | 128,000 | 0.4% | 9 |
| GEN DIGITAL INC | [GEN](https://holderbook.com/stocks/GEN/) | $32.9M | 1,320,600 | 0.4% | 9 |
| CARDINAL HEALTH INC | [CAH](https://holderbook.com/stocks/CAH/) | $31.1M | 131,000 | 0.4% | 2 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $30.5M | 92,200 | 0.4% | 9 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $30.4M | 83,980 | 0.4% | 31 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $30.2M | 177,796 | 0.4% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $28.4M | 671,900 | 0.4% | 12 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $28.3M | 394,800 | 0.4% | 23 |
| PTC INC | [PTC](https://holderbook.com/stocks/PTC/) | $26.7M | 234,626 | 0.3% | 9 |
| ROLLINS INC | [ROL](https://holderbook.com/stocks/ROL/) | $26.5M | 635,417 | 0.3% | 31 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $24.3M | 114,000 | 0.3% | 10 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $23.9M | 192,138 | 0.3% | 31 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $23.9M | 45,360 | 0.3% | 31 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $23.8M | 28,721 | 0.3% | 9 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $23.6M | 87,203 | 0.3% | 31 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $23.3M | 57,900 | 0.3% | 31 |
| COGNIZANT TECHNOLOGY SOLUTIO | [CTSH](https://holderbook.com/stocks/CTSH/) | $19.6M | 505,480 | 0.2% | 31 |
| WORKDAY INC | [WDAY](https://holderbook.com/stocks/WDAY/) | $16.4M | 134,100 | 0.2% | 1 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $16.4M | 178,909 | 0.2% | 31 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $16.2M | 658,400 | 0.2% | 15 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $16.1M | 148,600 | 0.2% | 5 |
| DECKERS OUTDOOR CORP | [DECK](https://holderbook.com/stocks/DECK/) | $15.8M | 159,472 | 0.2% | 13 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $15.1M | 56,500 | 0.2% | 1 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $15.1M | 94,600 | 0.2% | 13 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $14.0M | 66,000 | 0.2% | 2 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $13.9M | 10,850 | 0.2% | 2 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $13.7M | 56,672 | 0.2% | 31 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $13.6M | 56,200 | 0.2% | 2 |
| TRIMBLE INC | [TRMB](https://holderbook.com/stocks/TRMB/) | $13.4M | 261,800 | 0.2% | 5 |
| FIDELITY NATL FINL INC | [FNF](https://holderbook.com/stocks/FNF/) | $13.1M | 278,600 | 0.2% | 6 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $12.4M | 75,800 | 0.2% | 31 |
| NORDSON CORP | [NDSN](https://holderbook.com/stocks/NDSN/) | $10.3M | 34,300 | 0.1% | 1 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $10.2M | 70,300 | 0.1% | 10 |
| VERISIGN INC | [VRSN](https://holderbook.com/stocks/VRSN/) | $10.1M | 40,200 | 0.1% | 9 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $9.8M | 111,000 | 0.1% | 11 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $9.7M | 54,280 | 0.1% | 9 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $9.5M | 48,605 | 0.1% | 6 |
| LOEWS CORP | [L](https://holderbook.com/stocks/L/) | $7.2M | 63,400 | 0.1% | 8 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $7.1M | 29,800 | 0.1% | 1 |
| RPM INTL INC | [RPM](https://holderbook.com/stocks/RPM/) | $7.0M | 63,100 | 0.1% | 1 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $6.2M | 64,700 | 0.1% | 4 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $4.6M | 13,800 | 0.1% | 7 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $4.2M | 23,040 | 0.1% | 31 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $3.9M | 15,200 | 0.0% | 1 |
| FOX CORP | [FOXA](https://holderbook.com/stocks/FOXA/) | $3.4M | 65,100 | 0.0% | 2 |
| DOMINOS PIZZA INC | [DPZ](https://holderbook.com/stocks/DPZ/) | $2.9M | 9,700 | 0.0% | 31 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $2.4M | 17,700 | 0.0% | 6 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +14.0% | +14.8% | -0.8% | 100% |
| Q1 2026 | -5.1% | -4.6% | -0.4% | 100% |
| Q4 2025 | +0.6% | +2.4% | -1.7% | 100% |
| Q3 2025 | +3.7% | +7.8% | -4.1% | 100% |
| Q2 2025 | +7.3% | +10.5% | -3.1% | 100% |
| Q1 2025 | -1.0% | -4.6% | +3.6% | 100% |
| Q4 2024 | -0.4% | +2.1% | -2.5% | 100% |
| Q3 2024 | +6.3% | +5.4% | +0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $8.0B | 102 |
| Q1 2026 | $7.0B | 103 |
| Q4 2025 | $8.5B | 106 |
| Q3 2025 | $7.4B | 117 |
| Q2 2025 | $7.1B | 210 |
| Q1 2025 | $7.0B | 212 |
| Q4 2024 | $7.5B | 208 |
| Q3 2024 | $8.3B | 215 |
| Q2 2024 | $8.4B | 219 |
| Q1 2024 | $10.3B | 220 |
| Q4 2023 | $9.7B | 218 |
| Q3 2023 | $9.2B | 211 |