13F
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Railway Pension Investments Ltd

13F equity value
$7.0B
Positions
103
Top 10 concentration
34.9%
Quarters / total new picks
27 / 810
13F equity value over time
$0M$7B$13B201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +6.0% per quarter — versus +3.5% per quarter from simply owning every 13F stock. It beat that baseline in only 66.7% of quarters (excess t = 1.43, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+2.4%
t-stat
1.43
Quarterly win rate
67%
Annualized excess
+11.5%
$1 → follow vs universe
$4.35 vs $2.26
Cumulative return: $1 invested in new picks vs universe
1.00 20190331: universe 0.98320190630: universe 1.05620190930: universe 1.13620191231: universe 0.91620200331: universe 1.10520200630: universe 1.22020200930: universe 1.49720201231: universe 1.56520210331: universe 1.57920210630: universe 1.70520210930: universe 1.53120211231: universe 1.30320220331: universe 1.39920220630: universe 1.29620220930: universe 1.39220230331: universe 1.46620230630: universe 1.41420230930: universe 1.60520231231: universe 1.67720240331: universe 1.71420240630: universe 1.87020240930: universe 1.85420241231: universe 1.73020250331: universe 1.88620250630: universe 1.94620250930: universe 2.18820251231: universe 2.263 20190331: follow 1.04920190630: follow 1.07120190930: follow 1.16420191231: follow 1.14120200331: follow 1.35520200630: follow 1.40120200930: follow 1.74420201231: follow 1.84320210331: follow 2.05720210630: follow 2.34020210930: follow 1.96620211231: follow 1.57720220331: follow 1.61720220630: follow 1.65620220930: follow 1.70720230331: follow 1.88720230630: follow 1.85620230930: follow 2.06220231231: follow 2.41420240331: follow 2.53520240630: follow 2.83220240930: follow 3.01520241231: follow 3.14020250331: follow 3.31120250630: follow 3.56520250930: follow 4.09620251231: follow 4.350 0.84 2.77 4.70 2019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 103 · 2026 Q1

Ticker Value Weight QoQ
MSFT $375M
5.3%
TRIM
GOOGL $265M
3.8%
TRIM
NVDA $246M
3.5%
TRIM
LNG $243M
3.5%
TRIM
AMZN $234M
3.3%
ADD
AVGO $234M
3.3%
TRIM
META $229M
3.3%
ADD
NEE $216M
3.1%
TRIM
LRCX $210M
3.0%
TRIM
EQIX $202M
2.9%
TRIM
TMO $201M
2.9%
TRIM
TXN $191M
2.7%
TRIM
GILD $182M
2.6%
TRIM
CEG $177M
2.5%
ADD
ABBV $174M
2.5%
TRIM
AAPL $173M
2.5%
TRIM
V $169M
2.4%
TRIM
SYK $161M
2.3%
ADD
JNJ $159M
2.3%
TRIM
PANW $158M
2.2%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ADICAHCBOEDGXDOCUFOXAFTVMARMTDSOLVTTAN

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.