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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 (2016Q4)
Portfolio Summary: 207 holdings with a total value of $792,886,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 PLDT INC 142,994 3,939,000 0.50%
52 ORACLE CORP 91,379 3,514,000 0.44%
53 SCHLUMBERGER LTD 41,365 3,473,000 0.44%
54 MASTERCARD INCORPORATED 32,558 3,362,000 0.42%
55 UNION PAC CORP 32,391 3,358,000 0.42%
56 AMGEN INC 22,708 3,320,000 0.42%
57 HONEYWELL INTL INC 28,472 3,298,000 0.42%
58 GOLDMAN SACHS GROUP INC 13,714 3,284,000 0.41%
59 MONDELEZ INTL INC 73,395 3,254,000 0.41%
60 ABBVIE INC 50,979 3,192,000 0.40%
61 GILEAD SCIENCES INC 44,120 3,159,000 0.40%
62 UNITED TECHNOLOGIES CORP 27,690 3,035,000 0.38%
63 STARBUCKS CORP 53,767 2,985,000 0.38%
64 BOEING CO 18,542 2,887,000 0.36%
65 LILLY ELI & CO 38,394 2,824,000 0.36%
66 LOCKHEED MARTIN CORP 10,982 2,745,000 0.35%
67 HALLIBURTON CO 50,605 2,737,000 0.35%
68 CELGENE CORP 23,381 2,706,000 0.34%
69 CHARTER COMMUNICATIONS INC N 9,381 2,701,000 0.34%
70 CVS HEALTH CORP 33,126 2,614,000 0.33%
71 ANADARKO PETE CORP 37,123 2,589,000 0.33%
72 DOLLAR GEN CORP NEW 34,121 2,527,000 0.32%
73 CAPITAL ONE FINL CORP 28,745 2,508,000 0.32%
74 COLGATE PALMOLIVE CO 37,902 2,480,000 0.31%
75 EOG RES INC 24,435 2,470,000 0.31%
76 REYNOLDS AMERICAN INC 43,343 2,429,000 0.31%
77 GENERAL DYNAMICS CORP 14,000 2,417,000 0.30%
78 CATERPILLAR INC 26,000 2,411,000 0.30%
79 T MOBILE US INC 41,675 2,397,000 0.30%
80 FEDEX CORP 12,548 2,336,000 0.29%
81 NETFLIX INC 18,856 2,334,000 0.29%
82 TIME WARNER INC 23,769 2,294,000 0.29%
83 PNC FINL SVCS GROUP INC 19,591 2,291,000 0.29%
84 GENERAL MTRS CO 65,000 2,265,000 0.29%
85 DOW CHEM CO 39,165 2,241,000 0.28%
86 KROGER CO 64,246 2,217,000 0.28%
87 CF INDS HLDGS INC 69,380 2,184,000 0.28%
88 TJX COS INC NEW 28,963 2,176,000 0.27%
89 BRISTOL MYERS SQUIBB CO 37,013 2,163,000 0.27%
90 ADOBE INC 20,710 2,132,000 0.27%
91 PRUDENTIAL FINL INC 20,425 2,125,000 0.27%
92 INTERNATIONAL BUSINESS MACHS 12,771 2,120,000 0.27%
93 CONSTELLATION BRANDS INC 13,825 2,120,000 0.27%
94 NORTHROP GRUMMAN CORP 9,078 2,111,000 0.27%
95 US BANCORP DEL 41,082 2,110,000 0.27%
96 TARGET CORP 29,060 2,099,000 0.26%
97 THERMO FISHER SCIENTIFIC INC 14,869 2,098,000 0.26%
98 DISCOVER FINL SVCS 28,923 2,085,000 0.26%
99 DEVON ENERGY CORP NEW 45,303 2,069,000 0.26%
100 ALTRIA GROUP INC 30,383 2,054,000 0.26%
Page 2 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001536262-17-000001, filed 2017.02.16).

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.