Railway Pension Investments
LONDON, X0files as Railway Pension Investments Ltd
$8.0bn in 102 US stocks at the end of 30 June 2026. The top 10 are 38.0% of the money. It changed about 22.0% of the portfolio this quarter.
Value
$8.0bn
Stocks
102
Top 10 share
38.0%
Turnover
22.0%
What changed this quarter
New
Bought for the first time this quarter.
- Arista NetworksANET2.5% of the fund
- Bank of AmericaBAC2.5% of the fund
- InsmedINSM0.8% of the fund
- FortinetFTNT0.6% of the fund
- Keysight TechnologiesKEYS0.5% of the fund
- WorkdayWDAY0.2% of the fund
- Targa ResourcesTRGP0.2% of the fund
- NordsonNDSN0.1% of the fund
- AllstateALL<0.1% of the fund
- RPM InternationalRPM<0.1% of the fund
- Marathon PetroleumMPC<0.1% of the fund
- CrowdStrike HoldingsCRWD<0.1% of the fund
Added
Bought more of a stock they already held.
- NvidiaNVDA5.9% of the fund+67%
- AppleAAPL4.8% of the fund+94%
- BroadcomAVGO4.0% of the fund+13%
- KLAKLAC3.5% of the fund+6%
- VisaV2.7% of the fund+12%
- Cisco SystemsCSCO1.7% of the fund+3%
- NetAppNTAP1.0% of the fund+3%
- Cadence Design SystemsCDNS0.7% of the fund+4%
- TapestryTPR0.7% of the fund+39%
- Trane TechnologiesTT0.6% of the fund+131%
- Analog DevicesADI0.6% of the fund+102%
- AdobeADBE0.6% of the fund+146%
- HPHPQ0.5% of the fund+25%
- AutodeskADSK0.5% of the fund+45%
- F5FFIV0.5% of the fund+246%
- FortiveFTV0.5% of the fund+55%
- SalesforceCRM0.4% of the fund+17%
- IntuitINTU0.4% of the fund+150%
- Gen DigitalGEN0.4% of the fund+99%
- Cardinal HealthCAH0.4% of the fund+52%
- Hilton Worldwide HoldingsHLT0.4% of the fund+140%
- PTCPTC0.3% of the fund+1421%
- Ross StoresROST0.3% of the fund+38%
- AccentureACN0.3% of the fund+113%
- EMCOR GroupEME0.3% of the fund+13%
Cut
Sold some of their stake.
- Lam ResearchLRCX4.1% of the fund-23%
- Amazon.comAMZN3.0% of the fund-11%
- MicrosoftMSFT2.9% of the fund-39%
- Texas InstrumentsTXN2.8% of the fund-23%
- Meta PlatformsMETA2.4% of the fund-14%
- NextEra EnergyNEE2.3% of the fund-12%
- Thermo Fisher ScientificTMO2.3% of the fund-12%
- EquinixEQIX2.1% of the fund-21%
- QualcommQCOM1.9% of the fund-14%
- Cheniere EnergyLNG1.8% of the fund-31%
- StrykerSYK1.6% of the fund-17%
- Public Service Enterprise GroupPEG1.4% of the fund-21%
- Altria GroupMO1.1% of the fund-2%
- W.W. GraingerGWW0.9% of the fund-2%
- Verizon CommunicationsVZ0.4% of the fund-5%
- Otis WorldwideOTIS0.4% of the fund-4%
- Idexx LaboratoriesIDXX0.3% of the fund-82%
- ComcastCMCSA0.2% of the fund-7%
- CF Industries HoldingsCF0.2% of the fund-7%
- Verisk AnalyticsVRSK0.1% of the fund-12%
- LoewsL<0.1% of the fund-16%
- Travelers CompaniesTRV<0.1% of the fund-23%
Sold out
Sold their entire stake.
- Palo Alto NetworksPANW-100%
- O'Reilly AutomotiveORLY-100%
- ServiceNowNOW-100%
- Booking HoldingsBKNG-100%
- WalmartWMT-100%
- Marriott InternationalMAR-100%
- GoDaddyGDDY-100%
- Universal Health ServicesUHS-100%
- GartnerIT-100%
- DocusignDOCU-100%
- MedtronicMDT-100%
- SolventumSOLV-100%
- ServiceTitanTTAN-100%
Holdings
- Cboe Global MktsCBOE
- Share
- 0.2%
- Value
- $14m
- Shares
- 56,200
+49%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 5.9% | $471m | 2,356,300 | +67% |
| AppleAAPL | 4.8% | $382m | 1,320,786 | +94% |
| AlphabetGOOGL | 4.2% | $332m | 929,030 | Held |
| Lam ResearchLRCX | 4.1% | $327m | 754,700 | -23% |
| BroadcomAVGO | 4.0% | $322m | 852,192 | +13% |
| KLAKLAC | 3.5% | $280m | 926,652 | +6% |
| Amazon.comAMZN | 3.0% | $237m | 996,040 | -11% |
| MicrosoftMSFT | 2.9% | $230m | 617,170 | -39% |
| Texas InstrumentsTXN | 2.8% | $227m | 760,371 | -23% |
| VisaV | 2.7% | $216m | 628,679 | +12% |
| Arista NetworksANET | 2.5% | $201m | 1,184,850 | New |
| AbbVieABBV | 2.5% | $200m | 792,949 | Held |
| Bank of AmericaBAC | 2.5% | $199m | 3,485,400 | New |
| Meta PlatformsMETA | 2.4% | $193m | 342,200 | -14% |
| NextEra EnergyNEE | 2.3% | $180m | 2,056,432 | -12% |
| Thermo Fisher ScientificTMO | 2.3% | $180m | 358,970 | -12% |
| EquinixEQIX | 2.1% | $171m | 163,989 | -21% |
| Johnson & JohnsonJNJ | 2.1% | $165m | 650,036 | Held |
| Gilead SciencesGILD | 2.1% | $164m | 1,295,596 | Held |
| Constellation EnergyCEG | 1.9% | $154m | 620,960 | Held |
| AmphenolAPH | 1.9% | $151m | 857,100 | Held |
| QualcommQCOM | 1.9% | $149m | 807,400 | -14% |
| MastercardMA | 1.9% | $149m | 289,640 | Held |
| Cheniere EnergyLNG | 1.8% | $140m | 586,260 | -31% |
| Cisco SystemsCSCO | 1.7% | $138m | 1,175,076 | +3% |
| StrykerSYK | 1.6% | $128m | 407,720 | -17% |
| Public Service Enterprise GroupPEG | 1.4% | $110m | 1,360,650 | -21% |
| Altria GroupMO | 1.1% | $91m | 1,264,600 | -2% |
| NetAppNTAP | 1.0% | $82m | 531,250 | +3% |
| MckessonMCK | 1.0% | $81m | 107,642 | Held |
| FastenalFAST | 1.0% | $80m | 1,656,050 | Held |
| W.W. GraingerGWW | 0.9% | $74m | 54,048 | -2% |
| Parker-HannifinPH | 0.9% | $72m | 73,400 | Held |
| Expedia GroupEXPE | 0.9% | $69m | 268,659 | Held |
| InsmedINSM | 0.8% | $64m | 604,700 | New |
| Bristol-Myers SquibbBMY | 0.8% | $60m | 1,040,700 | Held |
| Cadence Design SystemsCDNS | 0.7% | $55m | 146,200 | +4% |
| TapestryTPR | 0.7% | $52m | 356,576 | +39% |
| Trane TechnologiesTT | 0.6% | $51m | 104,000 | +131% |
| Analog DevicesADI | 0.6% | $50m | 125,940 | +102% |
| FortinetFTNT | 0.6% | $48m | 309,800 | New |
| AdobeADBE | 0.6% | $45m | 217,760 | +146% |
| TJX CompaniesTJX | 0.5% | $41m | 270,200 | Held |
| HPHPQ | 0.5% | $39m | 1,785,815 | +25% |
| AutodeskADSK | 0.5% | $39m | 200,292 | +45% |
| F5FFIV | 0.5% | $38m | 91,010 | +246% |
| FortiveFTV | 0.5% | $37m | 604,400 | +55% |
| Williams SonomaWSM | 0.5% | $36m | 155,700 | Held |
| Keysight TechnologiesKEYS | 0.5% | $36m | 103,120 | New |
| HCA HealthcareHCA | 0.5% | $36m | 92,447 | Held |
| Motorola SolutionsMSI | 0.4% | $36m | 85,560 | Held |
| SalesforceCRM | 0.4% | $35m | 223,000 | +17% |
| International Business MachinesIBM | 0.4% | $34m | 121,580 | Held |
| IntuitINTU | 0.4% | $33m | 128,000 | +150% |
| Gen DigitalGEN | 0.4% | $33m | 1,320,600 | +99% |
| Cardinal HealthCAH | 0.4% | $31m | 131,000 | +52% |
| Hilton Worldwide HoldingsHLT | 0.4% | $30m | 92,200 | +140% |
| AmgenAMGN | 0.4% | $30m | 83,980 | Held |
| CintasCTAS | 0.4% | $30m | 177,796 | Held |
| Verizon CommunicationsVZ | 0.4% | $28m | 671,900 | -5% |
| Otis WorldwideOTIS | 0.4% | $28m | 394,800 | -4% |
| PTCPTC | 0.3% | $27m | 234,626 | +1421% |
| RollinsROL | 0.3% | $27m | 635,417 | Held |
| Ross StoresROST | 0.3% | $24m | 114,000 | +38% |
| AccentureACN | 0.3% | $24m | 192,138 | +113% |
| Idexx LaboratoriesIDXX | 0.3% | $24m | 45,360 | -82% |
| EMCOR GroupEME | 0.3% | $24m | 28,721 | +13% |
| Illinois Tool WorksITW | 0.3% | $24m | 87,203 | +14% |
| Snap-onSNA | 0.3% | $23m | 57,900 | Held |
| Cognizant Technology SolutionsCTSH | 0.2% | $20m | 505,480 | +16% |
| WorkdayWDAY | 0.2% | $16m | 134,100 | New |
| Colgate-PalmoliveCL | 0.2% | $16m | 178,909 | Held |
| ComcastCMCSA | 0.2% | $16m | 658,400 | -7% |
| CF Industries HoldingsCF | 0.2% | $16m | 148,600 | -7% |
| Deckers OutdoorDECK | 0.2% | $16m | 159,472 | +609% |
| Targa ResourcesTRGP | 0.2% | $15m | 56,500 | New |
| YUM BrandsYUM | 0.2% | $15m | 94,600 | Held |
| Quest DiagnosticsDGX | 0.2% | $14m | 66,000 | +91% |
| Mettler Toledo InternationalMTD | 0.2% | $14m | 10,850 | +327% |
| AmetekAME | 0.2% | $14m | 56,672 | +58% |
| Cboe Global MktsCBOE | 0.2% | $14m | 56,200 | +49% |
| TrimbleTRMB | 0.2% | $13m | 261,800 | Held |
| Fidelity National FinancialFNF | 0.2% | $13m | 278,600 | +190% |
| Expeditors International of WashingtonEXPD | 0.2% | $12m | 75,800 | Held |
| NordsonNDSN | 0.1% | $10m | 34,300 | New |
| Bank of New York MellonBNY | 0.1% | $10m | 70,300 | Held |
| VerisignVRSN | 0.1% | $10m | 40,200 | Held |
| VeraltoVLTO | 0.1% | $10m | 111,000 | Held |
| Verisk AnalyticsVRSK | 0.1% | $10m | 54,280 | -12% |
| ResmedRMD | 0.1% | $9m | 48,605 | +406% |
| LoewsL | <0.1% | $7m | 63,400 | -16% |
| AllstateALL | <0.1% | $7m | 29,800 | New |
| RPM InternationalRPM | <0.1% | $7m | 63,100 | New |
| Monster BeverageMNST | <0.1% | $6m | 64,700 | Held |
| Travelers CompaniesTRV | <0.1% | $5m | 13,800 | -23% |
| Philip Morris InternationalPM | <0.1% | $4m | 23,040 | Held |
| Marathon PetroleumMPC | <0.1% | $4m | 15,200 | New |
| FoxFOXA | <0.1% | $3m | 65,100 | Held |
| Dominos PizzaDPZ | <0.1% | $3m | 9,700 | Held |
| Broadridge Financial SolutionsBR | <0.1% | $2m | 17,700 | Held |
Showing the largest 100 of 102.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 12.3% since 30 June 2025.
Where the money is
Technology45.2%
Health care15.1%
Financial services7.6%
Media & telecom7.2%
Industrials6.6%
Retail & consumer6.6%
Utilities5.6%
Real estate2.1%
Energy2.0%
Everyday goods1.5%
Materials0.3%
Other0.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.