2026 Q1 Portfolio Activity
In 2026 Q1, USS Investment Management Ltd maintained a portfolio of 523 distinct positions. The most significant new addition was ASTRAZENECA PLC, now representing 0.19% of the total fund value. They heavily accumulated shares in VANGUARD INDEX FDS, increasing the position by 760.0%. The fund also reduced its exposure to S&P GLOBAL INC by 29.1%.
Position History
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Total Positions
523
Quarter
2026 Q1
Top Holding
SPLG (19.9%)
Top 10 Concentration
52.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 523
USS Investment Management Ltd Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
SPLG
SPDR SERIES TRU...
|
ETF | 19.88% | 24.76% |
#1
Prev: #1
|
7.0 |
—
|
no change | no change |
P
S
|
66,398,232 | $5,081,788,686 |
$72.59
+22.4%
|
2025 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | ||
|
VOO
VANGUARD INDEX ...
|
ETF | 8.17% | 1.18% |
#2
13
Prev: #15
|
7.8 |
—
|
3,088,758 | 760.0% |
P
S
|
3,495,162 | $2,089,023,376 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
IVV
ISHARES TR
|
ETF | 7.75% | 1.19% |
#3
11
Prev: #14
|
7.1 |
—
|
2,659,582 | 711.2% |
P
S
|
3,033,549 | $1,981,408,033 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 2.88% | 3.25% |
#4
1
Prev: #3
|
3.7 |
—
|
480,078 | 12.8% |
P
S
|
4,229,093 | $737,236,637 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 2.66% | 4.26% |
#5
3
Prev: #2
|
2.1 |
—
|
-59,639 | -3.1% |
P
S
|
1,834,520 | $679,038,405 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 2.60% | 2.85% |
#6
1
Prev: #5
|
3.5 |
—
|
542,626 | 20.4% |
P
S
|
3,196,522 | $665,755,620 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AAPL
APPLE INC
|
Technology | 2.37% | 2.93% |
#7
3
Prev: #4
|
1.4 |
—
|
61,649 | 2.7% |
P
S
|
2,383,084 | $604,647,988 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
ENLT
ENLIGHT RENEWAB...
|
Utilities | 2.28% | 1.80% |
#8
2
Prev: #6
|
1.4 |
—
|
2,981 | 3.5% |
P
S
|
88,084 | $583,980,779 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
TSEM
TOWER SEMICONDU...
|
Technology | 2.24% | 1.71% |
#9
1
Prev: #8
|
2.9 |
—
|
2,167 | 6.9% |
P
S
|
33,584 | $573,075,304 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
NVMI
NOVA LTD
|
Technology | 2.00% | 1.77% |
#10
3
Prev: #7
|
1.3 |
—
|
499 | 4.4% |
P
S
|
11,910 | $511,757,076 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
CAMT
CAMTEK LTD
|
Technology | 1.41% | 1.16% |
#11
6
Prev: #17
|
2.6 |
—
|
1,248 | 5.4% |
P
S
|
24,557 | $360,465,443 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
V
VISA INC
|
Financial Services | 1.14% | 1.53% |
#12
3
Prev: #9
|
1.0 |
—
|
21,585 | 2.3% |
P
S
|
962,028 | $290,720,051 | 2014 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
FAST
FASTENAL CO
|
Industrials | 1.08% | 1.11% |
#13
7
Prev: #20
|
0.9 |
—
|
7,169 | 0.1% |
P
S
|
5,954,159 | $276,421,832 | 2018 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
FERG
FERGUSON ENTERP...
|
Industrials | 1.08% | 1.23% |
#14
3
Prev: #11
|
0.9 |
—
|
-9,042 | -0.8% |
P
S
|
1,183,017 | $275,986,036 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 1.04% | 1.32% |
#15
5
Prev: #10
|
0.9 |
—
|
19,853 | 2.2% |
P
S
|
928,627 | $266,998,835 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
JNJ
JOHNSON & JOHNS...
|
Healthcare | 0.95% | 1.14% |
#16
2
Prev: #18
|
0.9 |
—
|
-191,891 | -16.2% |
P
S
|
992,389 | $242,544,834 | 2014 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AVGO
BROADCOM INC
|
Technology | 0.93% | 1.19% |
#17
5
Prev: #12
|
0.9 |
—
|
23,379 | 3.1% |
P
S
|
765,851 | $236,969,616 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.91% | 1.18% |
#18
2
Prev: #16
|
0.9 |
—
|
6,610 | 0.8% |
P
S
|
814,669 | $233,618,556 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
APH
AMPHENOL CORP
|
Technology | 0.86% | 0.94% |
#19
6
Prev: #25
|
2.3 |
—
|
249,155 | 16.7% |
P
S
|
1,739,556 | $219,801,598 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
MDT
MEDTRONIC PLC
|
Healthcare | 0.83% | 1.02% |
#20
2
Prev: #22
|
2.3 |
—
|
175,371 | 7.7% |
P
S
|
2,451,244 | $212,375,780 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.80% | 1.07% |
#21
Prev: #21
|
0.8 |
—
|
6,814 | 2.0% |
P
S
|
355,570 | $203,403,819 | 2015 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
KLAC
KLA CORP
|
Technology | 0.79% | 0.13% |
#22
68
Prev: #90
|
3.3 |
—
|
112,993 | 476.5% |
P
S
|
136,708 | $201,224,606 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
CL
COLGATE PALMOLI...
|
Consumer Defensive | 0.73% | 0.79% |
#23
5
Prev: #28
|
0.8 |
—
|
54,122 | 2.5% |
P
S
|
2,200,744 | $187,536,400 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
HD
HOME DEPOT INC
|
Consumer Cyclical | 0.68% | 0.95% |
#24
Prev: #24
|
0.8 |
—
|
-62,110 | -10.5% |
P
S
|
531,317 | $174,670,464 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
TSLA
TESLA INC
|
Consumer Cyclical | 0.68% | 0.96% |
#25
2
Prev: #23
|
0.8 |
—
|
7,239 | 1.6% |
P
S
|
466,864 | $173,979,204 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
PG
PROCTER & GAMBL...
|
Consumer Defensive | 0.67% | 0.72% |
#26
4
Prev: #30
|
2.3 |
—
|
109,409 | 10.1% |
P
S
|
1,192,532 | $172,231,434 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
ROL
ROLLINS INC
|
Consumer Cyclical | 0.65% | 0.56% |
#27
9
Prev: #36
|
3.3 |
—
|
1,123,237 | 55.9% |
P
S
|
3,131,337 | $167,260,366 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AON
AON PLC
|
Financial Services | 0.63% | 1.12% |
#28
9
Prev: #19
|
0.3 |
—
|
-179,263 | -26.3% |
P
S
|
502,480 | $162,220,643 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AZO
AUTOZONE INC
|
Consumer Cyclical | 0.62% | 0.45% |
#29
10
Prev: #39
|
3.2 |
—
|
18,257 | 63.9% |
P
S
|
46,842 | $158,146,789 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
YUM
YUM BRANDS INC
|
Consumer Cyclical | 0.59% | 0.66% |
#30
5
Prev: #35
|
0.7 |
—
|
33,235 | 3.5% |
P
S
|
974,960 | $151,606,280 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 0.58% | 0.52% |
#31
6
Prev: #37
|
2.7 |
—
|
256,851 | 37.2% |
P
S
|
946,920 | $148,959,985 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 0.58% | 1.19% |
#32
19
Prev: #13
|
0.2 |
—
|
-142,668 | -29.1% |
P
S
|
348,354 | $148,154,956 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
CDNS
CADENCE DESIGN ...
|
Technology | 0.57% | 0.76% |
#33
4
Prev: #29
|
0.7 |
—
|
1,100 | 0.2% |
P
S
|
524,385 | $145,653,178 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
OTIS
OTIS WORLDWIDE ...
|
Industrials | 0.53% | 0.69% |
#34
2
Prev: #32
|
0.7 |
—
|
65,250 | 3.8% |
P
S
|
1,767,235 | $136,209,638 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 0.52% | 0.67% |
#35
1
Prev: #34
|
0.7 |
—
|
6,128 | 1.4% |
P
S
|
453,233 | $133,350,213 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
LLY
ELI LILLY & CO
|
Healthcare | 0.51% | 0.69% |
#36
3
Prev: #33
|
0.7 |
—
|
4,003 | 2.9% |
P
S
|
141,359 | $130,066,536 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
MAR
MARRIOTT INTL I...
|
Consumer Cyclical | 0.49% | 0.79% |
#37
10
Prev: #27
|
0.2 |
—
|
-167,381 | -30.5% |
P
S
|
380,667 | $124,485,722 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
VRSK
VERISK ANALYTIC...
|
Industrials | 0.48% | 0.81% |
#38
12
Prev: #26
|
0.7 |
—
|
-137,584 | -17.6% |
P
S
|
643,035 | $121,986,955 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 0.42% | 0.50% |
#39
1
Prev: #38
|
0.7 |
—
|
8,666 | 4.1% |
P
S
|
221,926 | $106,356,926 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
NU
NU HLDGS LTD
|
Financial Services | 0.39% | 0.29% |
#40
8
Prev: #48
|
3.2 |
—
|
3,143,141 | 84.7% |
P
S
|
6,854,145 | $98,528,334 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
WMT
WALMART INC
|
Consumer Defensive | 0.34% | 0.36% |
#41
1
Prev: #42
|
0.6 |
—
|
10,218 | 1.5% |
P
S
|
703,562 | $87,442,203 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
NFLX
NETFLIX INC.
|
Communication Services | 0.33% | 0.29% |
#42
5
Prev: #47
|
2.6 |
—
|
213,972 | 31.8% |
P
S
|
886,527 | $85,244,004 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
RACE
FERRARI N V
|
Consumer Cyclical | 0.30% | 0.04% |
#43
204
Prev: #247
|
3.1 |
—
|
206,463 | 902.0% |
P
S
|
229,353 | $76,588,123 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
COST
COSTCO WHOLESAL...
|
Consumer Defensive | 0.28% | 0.28% |
#44
5
Prev: #49
|
0.6 |
—
|
1,539 | 2.2% |
P
S
|
71,888 | $71,624,530 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
PDD
PDD HOLDINGS IN...
|
Consumer Cyclical | 0.28% | 0.20% |
#45
19
Prev: #64
|
3.1 |
—
|
322,560 | 86.0% |
P
S
|
697,636 | $71,294,911 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.26% | 0.35% |
#46
3
Prev: #43
|
0.6 |
—
|
1,958 | 1.5% |
P
S
|
134,989 | $67,458,053 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 0.26% | 0.25% |
#47
6
Prev: #53
|
0.6 |
—
|
5,231 | 2.8% |
P
S
|
195,066 | $65,857,208 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
ABBV
ABBVIE INC
|
Healthcare | 0.25% | 0.31% |
#48
2
Prev: #46
|
0.6 |
—
|
9,950 | 3.4% |
P
S
|
298,983 | $65,015,348 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
AU
ANGLOGOLD ASHAN...
|
Basic Materials | 0.25% | 0.38% |
#49
9
Prev: #40
|
0.1 |
—
|
-291,284 | -30.5% |
P
S
|
663,007 | $64,619,977 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-04-24 | |||
|
APP
APPLOVIN CORP
|
Communication Services | 0.24% | 0.13% |
#50
45
Prev: #95
|
3.1 |
—
|
113,689 | 269.9% |
P
S
|
155,818 | $62,028,029 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-04-24 |
Showing 1-50 of 523 holdings