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USS Investment Management Ltd

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13F filer, CIK 1587381, London, United Kingdom

USS Investment Management Ltd reported $21,514,744,198 across 508 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 46.18% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-26-000941

The filing omits holdings under a confidential treatment request (H8). A later amendment may add them.

Period
2025-12-31
Reported value
$21.5B
Holdings
508
Top 10 weight
46.18%
New
8
Sold out
26

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AZOadded+25,443$86.3M
INDAnew+1,310,424$70.8M
NFLXadded+605,302$56.8M
SCCOadded+271,634$39M
CLadded+453,470$35.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VOOreduced-685,763-$430M
IVVreduced-624,548-$428M
QQQMexited-1,523,993-$377M
ICLRreduced-556,207-$101M
CAMTreduced-6,875-$73.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000919574-26-000941, largest first. % of portfolio is the value over $21,514,744,198, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ODDODDITY TECH LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,058 shares; 2025Q3: 13,058 shares; 2025Q4: 13,753 shares 13,753$552K<0.01%+695The filing omitted confidential holdings, a later amendment may add them.Timeline
FOXFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,037 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,671 shares; 2025Q4: 7,275 shares 7,275$472K<0.01%+3,604The filing omitted confidential holdings, a later amendment may add them.Timeline
GEVGE VERNOVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 46,405 shares; 2025Q1: 46,405 shares; 2025Q2: 689 shares; 2025Q3: 689 shares; 2025Q4: 689 shares 689$450K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
HAFNHAFNIA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 74,826 shares; 2025Q1: 74,826 shares; 2025Q2: 74,826 shares; 2025Q3: 74,826 shares; 2025Q4: 74,826 shares 74,826$413K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
FROFRONTLINE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,634 shares; 2024Q4: 17,659 shares; 2025Q1: 17,659 shares; 2025Q2: 17,659 shares; 2025Q3: 17,659 shares; 2025Q4: 17,659 shares 17,659$387K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
CMICUMMINS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,697 shares; 2024Q4: 4,732 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 532 shares; 2025Q4: 532 shares 532$272K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
IRINGERSOLL RAND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,248 shares; 2024Q4: 20,114 shares; 2025Q1: 2,914 shares; 2025Q2: 2,914 shares; 2025Q3: 2,914 shares; 2025Q4: 2,914 shares 2,914$231K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
ADMARCHER DANIELS MIDLAND COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 88,742 shares; 2024Q4: 76,755 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,655 shares; 2025Q4: 3,655 shares 3,655$210K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
QQQMINVESCO EXCH TRADED FD TR II1,523,993$377Mshares
VWOBVANGUARD WHITEHALL FDS420,000$28.1Mshares
KKELLANOVA56,333$4.62Mshares
MAAMID-AMER APT CMNTYS INC28,462$3.98Mshares
HOLXHOLOGIC INC58,249$3.93Mshares
EXPDEXPEDITORS INTL WASH INC31,657$3.88Mshares
AREALEXANDRIA REAL ESTATE EQ IN39,561$3.3Mshares
CLXCLOROX CO DEL26,595$3.28Mshares
COOCOOPER COS INC44,297$3.04Mshares
TRUTRANSUNION34,642$2.9Mshares
IFFINTERNATIONAL FLAVORS&FRAGRA45,579$2.81Mshares
JBHTHUNT J B TRANS SVCS INC20,345$2.73Mshares
BF-BBROWN FORMAN CORP97,748$2.65Mshares
OMCOMNICOM GROUP INC31,427$2.56Mshares
BAXBAXTER INTL INC108,320$2.47Mshares
MASMASCO CORP34,422$2.42Mshares
DPZDOMINOS PIZZA INC5,320$2.3Mshares
FNFFIDELITY NATL FINL INC34,575$2.09Mshares
CTRACOTERRA ENERGY INC82,718$1.96Mshares
SNAPSNAP INC214,829$1.66Mshares
BBYBEST BUY INC20,975$1.59Mshares
BF-ABROWN FORMAN CORP41,494$1.12Mshares
RALRALLIANT CORP24,640$1.08Mshares
HRLHORMEL FOODS CORP42,498$1.05Mshares
OPRAOPERA LTD38,228$789Kshares
DOWDOW HLDGS INC17,269$396Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000919574-26-000941 base2026-02-13acceptance time not in the bulk data set