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Institutional Investment Manager
B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund
B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund (CIK: 0001536262), located at 17th Floor, London, X0. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q4)
Portfolio Summary: 194 holdings with a total value of $1,039,465,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 HARLEY DAVIDSON INC 31,313 2,064,000 0.20%
152 TEXAS INSTRS INC 37,532 2,007,000 0.19%
153 AETNA INC NEW 22,050 1,959,000 0.19%
154 NOBLE ENERGY INC 40,912 1,940,000 0.19%
155 BLACKROCK INC 5,424 1,939,000 0.19%
156 WAL-MART STORES INC 22,353 1,920,000 0.18%
157 MOSAIC CO NEW 42,031 1,919,000 0.18%
158 HUNT J B TRANS SVCS INC 22,519 1,897,000 0.18%
159 FOOT LOCKER INC 33,071 1,858,000 0.18%
160 MARATHON PETE CORP 20,480 1,849,000 0.18%
161 COMERICA INC 38,470 1,802,000 0.17%
162 ADOBE INC 24,249 1,763,000 0.17%
163 BORGWARNER INC 31,901 1,753,000 0.17%
164 REPUBLIC SVCS INC 42,621 1,715,000 0.16%
165 AMETEK INC NEW 32,547 1,713,000 0.16%
166 PHILIP MORRIS INTL INC 20,875 1,700,000 0.16%
167 FLUOR CORP NEW 27,607 1,674,000 0.16%
168 EDWARDS LIFESCIENCES CORP 12,443 1,585,000 0.15%
169 SOUTHWESTERN ENERGY CO 57,681 1,574,000 0.15%
170 APACHE CORP 24,580 1,540,000 0.15%
171 NATIONAL OILWELL VARCO INC 23,120 1,515,000 0.15%
172 VMWARE INC 17,627 1,455,000 0.14%
173 CONCHO RESOURCES 14,270 1,423,000 0.14%
174 CROWN CASTLE INTL CORP NEW 17,828 1,403,000 0.13%
175 UNITED STATES STL CORP NEW 47,727 1,276,000 0.12%
176 SALESFORCE COM INC 20,175 1,197,000 0.12%
177 INTUIT 11,612 1,071,000 0.10%
178 COGNIZANT TECHNOLOGY SOLUTIO 20,000 1,053,000 0.10%
179 COBALT INTL ENERGY INC 117,286 1,043,000 0.10%
180 NABORS INDUSTRIES LTD 76,802 997,000 0.10%
181 CREDICORP LTD 5,900 945,000 0.09%
182 ABBOTT LABS 20,694 932,000 0.09%
183 LILLY ELI & CO 12,734 879,000 0.08%
184 HOLLYFRONTIER CORP 23,384 876,000 0.08%
185 OUTFRONT MEDIA INC 31,695 851,000 0.08%
186 EBAY INC 13,606 764,000 0.07%
187 BAKER HUGHES INC 13,590 762,000 0.07%
188 MOTOROLA SOLUTIONS INC 11,288 757,000 0.07%
189 MOBILE TELESYSTEMS PJSC 87,400 628,000 0.06%
190 SOUTHERN COPPER CORP 17,700 499,000 0.05%
191 COMPANIA DE MINAS BUENAVENTU 26,600 254,000 0.02%
192 NOW INC 5,780 149,000 0.01%
193 California Resources Corp 13,531 75,000 0.01%
194 OCEAN PWR TECHNOLOGIES INC 112,000 71,000 0.01%
Page 4 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001536262-15-000002, filed 2015.03.13).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.