RP
Railway Pension Investments Ltd 13F Filing (Q2 2026) — Top Positions & Stock Picks
Railway Pension Investments LtdCIK: 0001658020
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$8.0B
Reporting period: 2026-06-30 · Number of holdings: 102
Railway Pension Investments Ltd disclosed 102 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $8.0B and a quarterly turnover rate of 44.8%.
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Personality snowflake
- Concentration
- 9.71
- Portfolio Stability
- 44.8
- Momentum
- 100
- Sector conviction
- 76.47
- Diversification
- 100
- Sizing Uniformity
- 87.79
Railway Pension Investments Ltd's disclosed holdings carry a Herfindahl concentration index of 0.024 — mathematically equivalent to about 41 equally-sized positions, well below its 102 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.22), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy ANET
New buy BAC
Trim MSFT
-39.1% -$144.9M
Add NVDA
+67.4% $226.0M
Add AAPL
+93.7% $209.1M
Sold out PANW
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 5.93% | +2.44% | +67.39% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.80% | +2.34% | +93.71% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.17% | +0.40% | +0.96% | |
| 4 | LRCX | Lam Research CORP | Stock-Tech | 4.11% | +1.12% | -23.16% | |
| 5 | AVGO | Broadcom Inc | Stock-Tech | 4.05% | +0.73% | +12.92% | |
| 6 | KLAC | Kla CORP | Stock-Tech | 3.51% | +1.68% | +960.40% | |
| 7 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.98% | -0.35% | -11.21% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 2.89% | -2.45% | -39.09% | |
| 9 | TXN | Texas Instruments Inc | Stock-Tech | 2.85% | +0.14% | -22.53% | |
| 10 | V | Visa Inc-class A Shares | Stock-Financials | 2.71% | +0.30% | +12.13% | |
| 11 | ANET | Arista Networks Inc | Stock-Tech | 2.53% | +2.53% | NEW | |
| 12 | ABBV | Abbvie Inc | Stock-Healthcare | 2.51% | +0.03% | -0.99% | |
| 13 | BAC | Bank Of America CORP | Stock-Financials | 2.50% | +2.50% | NEW | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.42% | -0.83% | -14.33% | |
| 15 | NEE | Nextera Energy Inc | Stock-Utilities | 2.27% | -0.81% | -11.69% | |
| 16 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 2.26% | -0.60% | -12.22% | |
| 17 | EQIX | Equinix Inc | Stock-Real Estate | 2.15% | -0.73% | -20.57% | |
| 18 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.08% | -0.18% | — | |
| 19 | GILD | Gilead Sciences Inc | Stock-Healthcare | 2.06% | -0.53% | -0.60% | |
| 20 | CEG | Constellation Energy | Stock-Utilities | 1.94% | -0.58% | -1.86% | |
| 21 | APH | Amphenol Corp-cl A | Stock-Tech | 1.90% | +0.38% | +1.17% | |
| 22 | QCOM | Qualcomm Inc | Stock-Tech | 1.88% | +0.15% | -14.34% | |
| 23 | MA | Mastercard Inc - A | Stock-Financials | 1.87% | -0.21% | -0.96% | |
| 24 | LNG | Cheniere Energy Inc | Stock-Energy | 1.76% | -1.69% | -31.44% | |
| 25 | CSCO | Cisco Systems Inc | Stock-Tech | 1.74% | +0.48% | +3.25% | |
| 26 | SYK | Stryker CORP | Stock-Healthcare | 1.61% | -0.68% | -16.75% | |
| 27 | PEG | Public Service Enterprise Gp | Stock-Utilities | 1.39% | -0.59% | -21.00% | |
| 28 | MO | Altria Group Inc | Stock-Consumer Staples | 1.14% | -0.07% | -2.15% | |
| 29 | NTAP | Netapp Inc | Stock-Tech | 1.03% | +0.28% | +3.13% | |
| 30 | MCK | Mckesson CORP | Stock-Healthcare | 1.02% | -0.33% | -1.86% | |
| 31 | FAST | Fastenal Co | Stock-Industrials | 1.00% | -0.11% | -1.82% | |
| 32 | GWW | Ww Grainger Inc | Stock-Industrials | 0.92% | +0.06% | -2.10% | |
| 33 | PH | Parker Hannifin CORP | Stock-Industrials | 0.90% | -0.04% | — | |
| 34 | EXPE | Expedia Group Inc | Stock-Consumer Disc | 0.86% | -0.01% | +1.11% | |
| 35 | INSM | Insmed Inc | Stock-Healthcare | 0.81% | +0.81% | NEW | |
| 36 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.75% | -0.15% | — | |
| 37 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.69% | +0.13% | +3.89% | |
| 38 | TPR | Tapestry Inc | Stock-Consumer Disc | 0.66% | +0.14% | +39.07% | |
| 39 | TT | Trane Technologies plc | Stock-Industrials | 0.64% | +0.37% | +131.11% | |
| 40 | ADI | Analog Devices Inc | Stock-Tech | 0.63% | +0.35% | +102.48% | |
| 41 | FTNT | Fortinet Inc | Stock-Tech | 0.60% | +0.60% | NEW | |
| 42 | ADBE | Adobe Inc | Stock-Tech | 0.56% | +0.25% | +146.33% | |
| 43 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.51% | -0.10% | +1.16% | |
| 44 | HPQ | Hp Inc | Stock-Tech | 0.49% | +0.10% | +24.70% | |
| 45 | ADSK | Autodesk Inc | Stock-Tech | 0.49% | +0.02% | +44.94% | |
| 46 | FFIV | F5 Inc | Stock-Tech | 0.48% | +0.37% | +245.65% | |
| 47 | FTV | Fortive CORP | Stock-Tech | 0.46% | +0.15% | +55.49% | |
| 48 | WSM | Williams-sonoma Inc | Stock-Consumer Disc | 0.46% | +0.06% | — | |
| 49 | KEYS | Keysight Technologies In | Stock-Tech | 0.45% | +0.45% | NEW | |
| 50 | HCA | Hca Healthcare Inc | Stock-Healthcare | 0.45% | -0.17% | — |
1–50 of 102
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+3.9%
Performance Last 4 Quarters
+16.4%
- Stdev
- +11.9%
- Beta
- +0.87
- Alpha
- -1.7%
- Max Drawdown
- -5.3%
- Annualized Perf
- +16%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +2.52
- Stutzer
- +0.38
- Treynor
- +0.18
- Sterling
- +1.07
- Calmar
- +3.05
- Information Ratio
- -1.01
- Tracking Error
- +4.3%
- Stdev Down
- +6.2%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +29.3%
- Worst 12 Months
- +5.8%
- Efficiency Ratio
- +0.51
- Sharpe
- +1.32
- Stdev Sectors
- +12.2%
- Skewness
- -0.12
- Kurtosis
- -0.53
- Upside Potential
- +4.21
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 102 | $8.0B | 45 | ||
| 2026 Q1 | 103 | $7.0B | 33 | ||
| 2025 Q4 | 106 | $8.5B | 33 | ||
| 2025 Q3 | 117 | $7.4B | 71 | ||
| 2025 Q2 | 210 | $7.1B | 0 | ||
| 2025 Q1 | 212 | $7.0B | 100 | ||
| 2024 Q4 | 208 | $7.5B | 0 | ||
| 2024 Q3 | 215 | $8.3B | 0 | ||
| 2024 Q2 | 219 | $8.4B | 0 | ||
| 2024 Q1 | 220 | $10.3B | 0 | ||
| 2023 Q4 | 218 | $9.7B | 0 | ||
| 2023 Q3 | 211 | $9.2B | 0 | ||
| 2023 Q2 | 214 | $10.0B | 0 | ||
| 2023 Q1 | 209 | $9.8B | 0 | ||
| 2022 Q4 | 223 | $10.0B | 0 | ||
| 2022 Q3 | 234 | $9.2B | 0 | ||
| 2022 Q2 | 232 | $10.2B | 0 | ||
| 2022 Q1 | 238 | $12.9B | 0 | ||
| 2021 Q4 | 237 | $13.4B | 0 | ||
| 2021 Q3 | 236 | $12.3B | 0 | ||
| 2021 Q2 | 231 | $12.0B | 100 | ||
| 2021 Q1 | 230 | $10.8B | 26 | ||
| 2020 Q4 | 238 | $10.4B | 30 | ||
| 2020 Q3 | 265 | $9.7B | 23 | ||
| 2020 Q2 | 313 | $8.9B | 40 | ||
| 2020 Q1 | 349 | $7.2B | 34 | ||
| 2019 Q4 | 349 | $8.9B | 26 | ||
| 2019 Q3 | 351 | $8.2B | 31 | ||
| 2019 Q2 | 344 | $7.7B | 25 | ||
| 2019 Q1 | 349 | $7.2B | 57 | ||
| 2018 Q4 | 393 | $5.0B | 100 | ||
| 2015 Q3 | 1 | $195.1M | — |
Holding changes this quarter
Railway Pension Investments Ltd's most significant position changes for 2026-06-30: New buy: Arista Networks Inc (ANET); New buy: Bank Of America CORP (BAC); Sold out: Palo Alto Networks Inc (PANW); Sold out: O'reilly Automotive Inc (ORLY); Sold out: Servicenow Inc (NOW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ANET | Arista Networks Inc | +2.5% | NEW | New buy |
| 2 | BAC | Bank Of America CORP | +2.5% | NEW | New buy |
| 3 | NVDA | Nvidia CORP | +2.4% | +67.39% | Add |
| 4 | AAPL | Apple Inc | +2.3% | +93.71% | Add |
| 5 | KLAC | Kla CORP | +1.7% | +960.40% | Add |
| 6 | LRCX | Lam Research CORP | +1.1% | -23.16% | Trim |
| 7 | INSM | Insmed Inc | +0.8% | NEW | New buy |
| 8 | AVGO | Broadcom Inc | +0.7% | +12.92% | Add |
| 9 | FTNT | Fortinet Inc | +0.6% | NEW | New buy |
| 10 | CSCO | Cisco Systems Inc | +0.5% | +3.25% | Add |
| 11 | KEYS | Keysight Technologies In | +0.5% | NEW | New buy |
| 12 | GOOGL | Alphabet Inc-cl A | +0.4% | +0.96% | Add |
| 13 | APH | Amphenol Corp-cl A | +0.4% | +1.17% | Add |
| 14 | TT | Trane Technologies plc | +0.4% | +131.11% | Add |
| 15 | FFIV | F5 Inc | +0.4% | +245.65% | Add |
| 16 | ADI | Analog Devices Inc | +0.4% | +102.48% | Add |
| 17 | PTC | Ptc Inc | +0.3% | +1420.98% | Add |
| 18 | V | Visa Inc-class A Shares | +0.3% | +12.13% | Add |
| 19 | NTAP | Netapp Inc | +0.3% | +3.13% | Add |
| 20 | ADBE | Adobe Inc | +0.3% | +146.33% | Add |
| 21 | GEN | Gen Digital Inc | +0.2% | +98.56% | Add |
| 22 | HLT | Hilton Worldwide Holdings In | +0.2% | +140.10% | Add |
| 23 | WDAY | Workday Inc-class A | +0.2% | NEW | New buy |
| 24 | TRGP | Targa Resources CORP | +0.2% | NEW | New buy |
| 25 | DECK | Deckers Outdoor CORP | +0.2% | +608.76% | Add |
| 26 | QCOM | Qualcomm Inc | +0.2% | -14.34% | Trim |
| 27 | FTV | Fortive CORP | +0.2% | +55.49% | Add |
| 28 | TXN | Texas Instruments Inc | +0.1% | -22.53% | Trim |
| 29 | TPR | Tapestry Inc | +0.1% | +39.07% | Add |
| 30 | CDNS | Cadence Design Sys Inc | +0.1% | +3.89% | Add |
| 31 | CAH | Cardinal Health Inc | +0.1% | +52.15% | Add |
| 32 | NDSN | Nordson CORP | +0.1% | NEW | New buy |
| 33 | MTD | Mettler-toledo International | +0.1% | +327.17% | Add |
| 34 | FNF | Fidelity National Financial | +0.1% | +190.21% | Add |
| 35 | HPQ | Hp Inc | +0.1% | +24.70% | Add |
| 36 | INTU | Intuit Inc | +0.1% | +149.80% | Add |
| 37 | RMD | Resmed Inc | +0.1% | +406.04% | Add |
| 38 | ALL | Allstate CORP | +0.1% | NEW | New buy |
| 39 | RPM | Rpm International Inc | +0.1% | NEW | New buy |
| 40 | DGX | Quest Diagnostics Inc | +0.1% | +91.30% | Add |
| 41 | GWW | Ww Grainger Inc | +0.1% | -2.10% | Trim |
| 42 | WSM | Williams-sonoma Inc | +0.1% | — | Unchanged |
| 43 | AME | Ametek Inc | +0.1% | +57.98% | Add |
| 44 | ACN | Accenture plc | +0.1% | +112.95% | Add |
| 45 | MPC | Marathon Petroleum CORP | +0.1% | NEW | New buy |
| 46 | ROST | Ross Stores Inc | 0% | +37.52% | Add |
| 47 | ABBV | Abbvie Inc | 0% | -0.99% | Trim |
| 48 | EME | Emcor Group Inc | 0% | +13.07% | Add |
| 49 | ADSK | Autodesk Inc | 0% | +44.94% | Add |
| 50 | ITW | Illinois Tool Works | 0% | +14.50% | Add |
1–50 of 115
Filing History
FAQ
What is Railway Pension Investments Ltd and what type of investor is it?
Railway Pension Investments Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $8.0B, spread across 102 disclosed positions.
What are Railway Pension Investments Ltd's largest equity positions?
Based on the latest 13F filing, Railway Pension Investments Ltd's top holdings by market value are:
1. Nvidia CORP (NVDA) — $471.5M (5.9%)
2. Apple Inc (AAPL) — $382.2M (4.8%)
3. Alphabet Inc-cl A (GOOGL) — $332.0M (4.2%)
4. Lam Research CORP (LRCX) — $327.0M (4.1%)
5. Broadcom Inc (AVGO) — $321.9M (4.0%)
What changes did Railway Pension Investments Ltd make in its most recent portfolio filing?
In the latest reported quarter, Railway Pension Investments Ltd made 91 notable position adjustments: 12 new positions were initiated, 38 existing holdings were added to, 28 positions were partially reduced, and 13 were completely exited. The largest of these moves: New buy: Arista Networks Inc (ANET); New buy: Bank Of America CORP (BAC); Sold out: Palo Alto Networks Inc (PANW); Sold out: O'reilly Automotive Inc (ORLY); Sold out: Servicenow Inc (NOW)
What sectors does Railway Pension Investments Ltd focus on?
Railway Pension Investments Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 45.7%
• Health Care: 15.1%
• Financials: 7.8%
• Communication Services: 7.2%
• Consumer Discretionary: 6.9%
• Industrials: 5.8%
Investment Profile
Railway Pension Investments Ltd returned an annualized 16.0% over the trailing 36 months — underperforming the S&P 500 by 1.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.87 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 45.7% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 45 over the past 4 quarters — a shift toward more active trading.
It has added to its KLAC position over the past two quarters (+$158.7M, now $279.6M), while trimming MSFT over the same stretch (-$312.2M, still holding $230.2M).
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Developer Access
Access Railway Pension Investments Ltd's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/railway-pension-investments-ltdCLI
npx alphasmo institutions get railway-pension-investments-ltd