# M&G INVESTMENT MANAGEMENT LTD

> Institutional holdings reported to the SEC as of Q4 2023 on Form 13F. CIK 922898. Source: https://holderbook.com/funds/922898-m-g-investment-management-ltd/

- Reported value: $28.2B
- Positions: 340
- Weight of the ten largest: 59.6%
- Filed: 2024-05-08

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 |
|---|---|---|---|---|---|
| FERGUSON PLC NEW | [FERGXXXX](https://holderbook.com/stocks/FERGXXXX/) | $6.4B | 331,482 | 22.6% | 12 |
| DIVERSIFIED ENERGY COMPANY P | [DEC](https://holderbook.com/stocks/DEC/) | $3.5B | 2,433,775 | 12.3% | 1 |
| INTERDIGITAL INC | - | $2.0B | 6,628,000 | 7.1% | 3 |
| BURFORD CAPITAL LIMITED | [BUR](https://holderbook.com/stocks/BUR/) | $1.8B | 1,133,895 | 6.2% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $868.9M | 2,310,800 | 3.1% | 17 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $712.2M | 638,201 | 2.5% | 17 |
| METHANEX CORP | [MEOH](https://holderbook.com/stocks/MEOH/) | $616.3M | 13,112,435 | 2.2% | 17 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $366.5M | 7,186,037 | 1.3% | 17 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $329.9M | 2,356,421 | 1.2% | 17 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $325.0M | 1,250,094 | 1.2% | 17 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $267.9M | 3,267,537 | 0.9% | 17 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $264.5M | 4,335,417 | 0.9% | 17 |
| V F CORP | [VFC](https://holderbook.com/stocks/VFC/) | $235.9M | 12,413,169 | 0.8% | 11 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $233.2M | 2,027,922 | 0.8% | 17 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $232.5M | 441,984 | 0.8% | 17 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $220.5M | 1,107,939 | 0.8% | 13 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $215.6M | 1,943,352 | 0.8% | 17 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $214.4M | 3,633,394 | 0.8% | 17 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $210.0M | 1,653,660 | 0.7% | 7 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $204.1M | 432,478 | 0.7% | 17 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $198.9M | 892,138 | 0.7% | 17 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $188.5M | 234,199 | 0.7% | 17 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $187.0M | 230,316 | 0.7% | 17 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $180.3M | 834,751 | 0.6% | 17 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $172.5M | 5,581,422 | 0.6% | 17 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $166.0M | 680,211 | 0.6% | 17 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $163.5M | 4,511,919 | 0.6% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $162.5M | 955,910 | 0.6% | 17 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $153.3M | 3,065,455 | 0.5% | 17 |
| STELLANTIS N.V | [STLA](https://holderbook.com/stocks/STLA/) | $148.9M | 6,425,907 | 0.5% | 12 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $139.8M | 3,993,901 | 0.5% | 17 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $133.6M | 312,823 | 0.5% | 17 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $132.8M | 6,989,105 | 0.5% | 14 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $130.4M | 790,352 | 0.5% | 17 |
| KE HLDGS INC | [BEKE](https://holderbook.com/stocks/BEKE/) | $126.8M | 7,926,434 | 0.4% | 10 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $122.0M | 841,224 | 0.4% | 17 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $120.2M | 3,080,778 | 0.4% | 17 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $119.2M | 2,980,918 | 0.4% | 5 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $119.2M | 630,534 | 0.4% | 17 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $110.9M | 525,824 | 0.4% | 17 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $108.8M | 1,876,466 | 0.4% | 17 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $107.6M | 632,912 | 0.4% | 17 |
| ANSYS INC | [ANSS](https://holderbook.com/stocks/ANSS/) | $107.0M | 294,706 | 0.4% | 17 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $98.9M | 2,248,086 | 0.4% | 17 |
| EDISON INTL | [EIX](https://holderbook.com/stocks/EIX/) | $94.0M | 1,324,602 | 0.3% | 17 |
| XPLR INFRASTRUCTURE LP | [XIFR](https://holderbook.com/stocks/XIFR/) | $93.5M | 3,117,749 | 0.3% | 16 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $92.9M | 496,851 | 0.3% | 17 |
| EVERSOURCE ENERGY | [ES](https://holderbook.com/stocks/ES/) | $92.0M | 1,483,094 | 0.3% | 11 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $91.4M | 692,301 | 0.3% | 17 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $88.9M | 216,194 | 0.3% | 4 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $87.3M | 1,478,834 | 0.3% | 17 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $85.5M | 161,011 | 0.3% | 17 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $85.1M | 1,269,528 | 0.3% | 17 |
| AUTOHOME INC | [ATHM](https://holderbook.com/stocks/ATHM/) | $82.4M | 2,942,265 | 0.3% | 17 |
| EBAY INC. | [EBAY](https://holderbook.com/stocks/EBAY/) | $82.1M | 1,865,927 | 0.3% | 17 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $78.0M | 152,709 | 0.3% | 9 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $76.6M | 1,094,223 | 0.3% | 17 |
| H WORLD GROUP LTD | [HTHT](https://holderbook.com/stocks/HTHT/) | $76.3M | 2,312,820 | 0.3% | 14 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $76.1M | 3,459,681 | 0.3% | 17 |
| MANHATTAN ASSOCIATES INC | [MANH](https://holderbook.com/stocks/MANH/) | $72.7M | 338,017 | 0.3% | 17 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $71.8M | 120,346 | 0.3% | 17 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $70.7M | 942,059 | 0.3% | 15 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $67.4M | 802,630 | 0.2% | 17 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $65.6M | 830,302 | 0.2% | 17 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $64.5M | 280,457 | 0.2% | 17 |
| WEYERHAEUSER CO | [WY](https://holderbook.com/stocks/WY/) | $63.9M | 1,826,306 | 0.2% | 17 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $63.3M | 231,070 | 0.2% | 17 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $62.1M | 1,195,136 | 0.2% | 17 |
| TRINSEO PLC | [TSE](https://holderbook.com/stocks/TSE/) | $61.0M | 7,625,044 | 0.2% | 9 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $58.5M | 186,870 | 0.2% | 17 |
| NEW FORTRESS ENERGY INC | [NFE](https://holderbook.com/stocks/NFE/) | $58.4M | 1,537,323 | 0.2% | 2 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $54.4M | 1,111,208 | 0.2% | 17 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $51.8M | 375,702 | 0.2% | 17 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $51.2M | 144,616 | 0.2% | 17 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $51.0M | 264,485 | 0.2% | 17 |
| DISCOVER FINL SVCS | [DFS](https://holderbook.com/stocks/DFS/) | $50.6M | 452,032 | 0.2% | 17 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $47.8M | 937,564 | 0.2% | 17 |
| BALL CORP | [BALL](https://holderbook.com/stocks/BALL/) | $47.4M | 816,874 | 0.2% | 17 |
| MORNINGSTAR INC | [MORN](https://holderbook.com/stocks/MORN/) | $45.8M | 160,109 | 0.2% | 8 |
| LABORATORY CORP AMER HLDGS | [LH](https://holderbook.com/stocks/LH/) | $44.6M | 196,573 | 0.2% | 14 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $43.7M | 400,616 | 0.2% | 17 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $42.5M | 305,859 | 0.2% | 17 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $42.0M | 538,944 | 0.1% | 17 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $41.4M | 209,284 | 0.1% | 11 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $40.8M | 800,307 | 0.1% | 17 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $39.0M | 1,026,442 | 0.1% | 17 |
| SOLAREDGE TECHNOLOGIES INC | [SEDG](https://holderbook.com/stocks/SEDG/) | $38.8M | 413,182 | 0.1% | 17 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $38.8M | 159,790 | 0.1% | 17 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $38.8M | 445,928 | 0.1% | 17 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $38.6M | 77,427 | 0.1% | 17 |
| GARMIN LTD | [GRMN](https://holderbook.com/stocks/GRMN/) | $38.3M | 297,129 | 0.1% | 17 |
| AKAMAI TECHNOLOGIES INC | - | $38.0M | 33,947,000 | 0.1% | 14 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $37.1M | 2,235,832 | 0.1% | 17 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $35.7M | 208,545 | 0.1% | 17 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $35.3M | 225,049 | 0.1% | 17 |
| COGENT COMM HOLDINGS INC | [CCOI](https://holderbook.com/stocks/CCOI/) | $35.1M | 462,399 | 0.1% | 12 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $35.0M | 302,084 | 0.1% | 17 |
| BOX INC | - | $34.2M | 30,541,000 | 0.1% | 8 |
| LANTHEUS HLDGS INC | - | $33.1M | 29,543,000 | 0.1% | 1 |
| LAM RESEARCH CORP | [LRCXXXXX](https://holderbook.com/stocks/LRCXXXXX/) | $32.2M | 41,175 | 0.1% | 17 |

## 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 |
|---|---|---|---|---|
| Q4 2023 | +11.5% | +11.2% | +0.3% | 97% |
| Q3 2023 | -4.8% | -3.6% | -1.2% | 86% |
| Q2 2023 | +2.9% | +8.3% | -5.4% | 97% |
| Q1 2023 | +4.3% | +7.0% | -2.7% | 96% |
| Q4 2022 | +11.6% | +7.1% | +4.5% | 97% |
| Q3 2022 | -9.0% | -5.3% | -3.7% | 97% |
| Q1 2022 | -2.0% | -4.9% | +2.9% | 89% |
| Q4 2021 | +7.7% | +10.7% | -3.0% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2023 | $28.2B | 340 |
| Q3 2023 | $22.4B | 341 |
| Q2 2023 | $25.0B | 368 |
| Q1 2023 | $21.2B | 402 |
| Q4 2022 | $20.2B | 437 |
| Q3 2022 | $17.2B | 415 |
| Q2 2022 | $16.9B | 440 |
| Q1 2022 | $51.3B | 462 |
| Q4 2021 | $38.6B | 477 |
| Q3 2021 | $42.0B | 739 |
| Q2 2021 | $40.4B | 741 |
| Q1 2021 | $31.8B | 449 |