Q2 2026 13F · SEC CIK 1587381

USS Investment Management Ltd

Asset managerFiled 2026-08-11 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $27.8B
Reported positions: 617
Top holdings a year, 3 yrs: +16.8%
Average holding period: 3.0 yrs

USS Investment Management Ltd is an asset manager that reported 617 positions worth $27.8B in its Q2 2026 13F, filed 2026-08-11. Its largest holdings were Spdr Series Trust (SPLG, 21.0%), Vanguard S&p 500 ETF (VOO, 3.9%), Ishares Core S&p 500 ETF (IVV, 3.5%). A portfolio copying its top holdings returned 16.8% a year over the last 3 years, against 19.9% for the S&P 500.

USS Investment Management Ltd holdings largest 50 of 617 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

USS Investment Management Ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPLGSpdr Series Trust	21.0%	19.9%	66,398,232	+0.0%	$5.8B
VOOVanguard S&p 500 ETF	3.9%	8.2%	1,569,585	-55.1%	$1.1B
IVVIshares Core S&p 500 ETF	3.5%	7.8%	1,283,922	-57.7%	$962.7M
NVDANvidia Corporation Com	3.0%	2.9%	4,189,694	-0.9%	$837.0M
AMZNAmazon Com Inc Com	2.9%	2.6%	3,359,885	+5.1%	$800.4M
ENLTEnlight Renewable Energy Ltd	2.6%	2.3%	81,381	-7.6%	$718.2M
NVMINova Ltd	2.5%	2.0%	13,023	+9.3%	$688.3M
MSFTMicrosoft Corp	2.4%	2.7%	1,810,982	-1.3%	$675.2M
TSEMTower Semiconductor Ltd	2.4%	2.2%	26,142	-22.2%	$670.6M
AAPLApple Inc	2.4%	2.4%	2,309,849	-3.1%	$667.9M
KLACKla Corp	1.7%	0.8%	1,573,410	+1050.9%	$474.4M
CAMTCamtek Ltd	1.6%	1.4%	27,498	+12.0%	$433.7M
VVisa Inc Com Cl A	1.2%	1.1%	974,591	+1.3%	$334.0M
GOOGLAlphabet Inc	1.2%	1.0%	907,443	-2.3%	$324.1M
APHAmphenol Corp	1.2%	0.9%	1,817,788	+4.5%	$320.6M
FASTFastenal Co	1.0%	1.1%	5,988,644	+0.6%	$287.6M
FERGFerguson Enterprises Inc	1.0%	1.1%	1,207,760	+2.1%	$286.6M
AVGOBroadcom Inc	1.0%	0.9%	756,791	-1.2%	$285.5M
GOOGAlphabet Inc	1.0%	0.9%	802,874	-1.4%	$283.7M
JNJJohnson & Johnson	0.9%	0.9%	1,014,246	+2.2%	$257.6M
MUMicron Technology Inc	0.8%	0.3%	204,848	+5.0%	$235.8M
TSLATesla Inc Com	0.8%	0.7%	532,480	+14.1%	$223.8M
MDTMedtronic PLC	0.7%	0.8%	2,548,558	+4.0%	$199.4M
METAMeta Platforms Inc Class A	0.7%	0.8%	353,546	-0.6%	$199.0M
CLColgate Palmolive Co	0.7%	0.7%	2,171,891	-1.3%	$199.0M
ETNEaton Corp PLC	0.7%	—	437,477	—	$186.4M
PGProcter & Gamble Co Com	0.6%	0.7%	1,210,581	+1.5%	$177.3M
AONAon PLC	0.6%	0.6%	520,768	+3.6%	$172.7M
AMDAdvanced Micro Devices Inc	0.6%	—	291,735	—	$169.3M
LLYLilly Eli & Co	0.6%	0.5%	139,687	-1.2%	$167.6M
AZOAutozone Inc	0.5%	0.6%	47,260	+0.9%	$150.9M
ROLRollins Inc	0.5%	0.7%	3,536,525	+12.9%	$147.6M
SPGIS&P Global Inc.	0.5%	0.6%	361,488	+3.8%	$147.0M
CSCOCisco Sys Inc	0.5%	—	1,223,094	—	$143.6M
JPMJpmorgan Chase & Co	0.5%	0.5%	435,160	-4.0%	$142.4M
YUMYum Brands Inc	0.5%	0.6%	864,413	-11.3%	$138.2M
OTISOtis Worldwide Corp	0.5%	0.5%	1,759,239	-0.5%	$126.0M
ICEIntercontinental Exchange in	0.4%	0.6%	951,154	+0.4%	$117.1M
VRSKVerisk Analytics Inc	0.4%	0.5%	649,881	+1.1%	$116.6M
BRK-BBerkshire Hathaway Inc Del	0.4%	0.4%	220,802	-0.5%	$110.5M
HDHome Depot Inc Com	0.4%	0.7%	308,143	-42.0%	$108.6M
AMATApplied Matls Inc	0.4%	—	150,041	—	$108.5M
INTCIntel Corp	0.4%	—	760,454	—	$106.1M
LRCXLam Research Corp	0.4%	—	236,445	—	$102.5M
APPApplovin Corp	0.3%	0.2%	176,660	+13.4%	$91.0M
CDNSCadence Design System Inc	0.3%	0.6%	236,769	-54.8%	$88.8M
RACEFerrari N V	0.3%	0.3%	236,309	+3.0%	$87.5M
NUNu Hldgs Ltd	0.3%	0.4%	6,448,677	-5.9%	$86.2M
NETCloudflare Inc	0.3%	—	330,566	—	$81.1M
AUAnglogold Ashanti PLC	0.3%	0.3%	967,023	+45.9%	$78.2M

What USS Investment Management Ltd bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

KLAC Kla Corp+1050.9% shares
AU Anglogold Ashanti PLC+45.9% shares
TSLA Tesla Inc Com+14.1% shares
APP Applovin Corp+13.4% shares
ROL Rollins Inc+12.9% shares
CAMT Camtek Ltd+12.0% shares
NVMI Nova Ltd+9.3% shares
AMZN Amazon Com Inc Com+5.1% shares

Reduced

IVV Ishares Core S&p 500 ETF-57.7% shares
VOO Vanguard S&p 500 ETF-55.1% shares
CDNS Cadence Design System Inc-54.8% shares
HD Home Depot Inc Com-42.0% shares
TSEM Tower Semiconductor Ltd-22.2% shares
YUM Yum Brands Inc-11.3% shares
ENLT Enlight Renewable Energy Ltd-7.6% shares
NU Nu Hldgs Ltd-5.9% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: —
3 years: +16.8% /yr; S&P 500 +19.9%
5 years: +6.8% /yr; S&P 500 +9.8%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$27.8B	617
Q1 2026	$25.6B	512
Q4 2025	$21.5B	508
Q3 2025	$22.0B	526
Q2 2025	$16.9B	523
Q1 2025	$13.7B	533
Q4 2024	$14.3B	554
Q3 2024	$13.7B	535
Q2 2024	$12.6B	551
Q1 2024	$12.2B	542
Q4 2023	$11.2B	552
Q3 2023	$9.2B	577

Questions about USS Investment Management Ltd's portfolio

What stocks does USS Investment Management Ltd own?

USS Investment Management Ltd's latest 13F, for Q2 2026 and filed Aug 11, 2026, lists 617 positions worth $27.8B. The largest are Spdr Series Trust (SPLG) at 21.0%, Vanguard S&p 500 ETF (VOO) at 3.9%, Ishares Core S&p 500 ETF (IVV) at 3.5%, Nvidia Corporation Com (NVDA) at 3.0% and Amazon Com Inc Com (AMZN) at 2.9%.

What did USS Investment Management Ltd buy last quarter?

In Q2 2026, USS Investment Management Ltd added Kla Corp (KLAC) (+1050.9% shares), Anglogold Ashanti PLC (AU) (+45.9% shares) and Tesla Inc Com (TSLA) (+14.1% shares), compared with its Q1 2026 filing.

What did USS Investment Management Ltd sell last quarter?

In Q2 2026, USS Investment Management Ltd cut from its top 50 Marriott Intl Inc New Cl A (MAR), cut from its top 50 Walmart Inc (WMT), cut from its top 50 Netflix Inc Total (NFLX), cut from its top 50 Costco Whsl Corp New (COST), cut from its top 50 Pdd Holdings Inc (PDD), Ishares Core S&p 500 ETF (IVV) (-57.7% shares), Vanguard S&p 500 ETF (VOO) (-55.1% shares) and Cadence Design System Inc (CDNS) (-54.8% shares), compared with its Q1 2026 filing.

How has USS Investment Management Ltd's portfolio performed?

A portfolio copying USS Investment Management Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +16.8% a year over the last 3 years, against +19.9% for the S&P 500. Over 5 years: +6.8% a year against +9.8%.

When is USS Investment Management Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. USS Investment Management Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.