USS Investment Management Ltd
SEC Form 13F institutional filer · CIK 0001587381
13F-HR · 375 reported holdings · 2026-03-31
USS Investment Management Ltd is a pension fund.
Reported long-US-equity value
$21.79B
Top-10 concentration
58.2%
USS Investment Management Ltd — $21.8B AUM allocation strategy
USS Investment Management Ltd files SEC Form 13F and reports $21.8B of long US equity value across 375 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 12.3%, followed by Consumer Discretionary 3.9% and Communication Services 3.2%.
The top 10 holdings account for 58% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
USS Investment Management Ltd — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$21.8B
total across 375 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
58% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$VOO +3.09M sh · +$1.83B+$IVV +2.66M sh · +$1.73B+$ROL +1.12M sh · +$46.7M
Biggest trims (shares)
−$UNH −301K sh · −$108M−$JNJ −192K sh · −$2.54M−$AON −179K sh · −$78.4M
Added from nil (new positions)
None this quarter
Exited to nil (held last quarter, gone now)
$UNP ($4.89M last qtr)$HUBB ($4.26M last qtr)$VLTO ($3.34M last qtr)$APTV ($3.29M last qtr)$IEX ($2.77M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors4.5%—
- Interactive Media & Services3.2%—
- Systems Software3.1%—
- Broadline Retail3.1%—
- Technology Hardware, Storage & Peripherals2.8%—
- Transaction & Payment Processing Services1.4%—
- Trading Companies & Distributors1.3%—
- Building Products1.3%—
- Other holdings79.3%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
7 of 7 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 4.23M | $737M | +480K | 3.4% |
| $MSFT | Microsoft Corporation | 1.83M | $679M | -59.6K | 3.1% |
| $AMZN | Amazon.com Inc | 3.2M | $666M | +543K | 3.1% |
| $AAPL | Apple Inc | 2.38M | $605M | +61.6K | 2.8% |
| $V | Visa Inc | 962K | $291M | +21.6K | 1.3% |
| $FAST | Fastenal Company | 5.95M | $276M | +7.17K | 1.3% |
| $FERG | Ferguson Enterprises Inc | 1.18M | $276M | -9.04K | 1.3% |
…and 368 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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