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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 (2017Q1)
Portfolio Summary: 198 holdings with a total value of $888,230,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 CHIPOTLE MEXICAN GRILL INC 4,502 2,006,000 0.23%
102 NORTHROP GRUMMAN CORP 8,396 1,997,000 0.22%
103 US BANCORP DEL 37,997 1,957,000 0.22%
104 BUNGE LIMITED 24,139 1,949,000 0.22%
105 AETNA INC NEW 14,883 1,898,000 0.21%
106 S&P GLOBAL INC 14,306 1,870,000 0.21%
107 BRISTOL MYERS SQUIBB CO 34,233 1,862,000 0.21%
108 DISCOVER FINL SVCS 26,751 1,830,000 0.21%
109 HEWLETT PACKARD ENTERPRISE C 77,000 1,825,000 0.21%
110 AMERICAN INTL GROUP INC 28,806 1,798,000 0.20%
111 WASTE MGMT INC DEL 24,657 1,798,000 0.20%
112 MARRIOTT INTL INC NEW 18,625 1,754,000 0.20%
113 KROGER CO 59,421 1,752,000 0.20%
114 DEVON ENERGY CORP NEW 41,901 1,748,000 0.20%
115 BANK NEW YORK MELLON CORP 35,988 1,700,000 0.19%
116 KIMBERLY CLARK CORP 12,826 1,688,000 0.19%
117 CUMMINS INC 11,099 1,678,000 0.19%
118 ELECTRONIC ARTS INC 18,739 1,678,000 0.19%
119 ARCONIC INC 63,150 1,663,000 0.19%
120 METLIFE INC 31,273 1,652,000 0.19%
121 PRICELINE GRP INC 925 1,646,000 0.19%
122 MARATHON PETE CORP 32,371 1,636,000 0.18%
123 ZIMMER BIOMET HLDGS INC 13,343 1,629,000 0.18%
124 BOSTON SCIENTIFIC CORP 65,390 1,626,000 0.18%
125 UNITED RENTALS INC 12,937 1,618,000 0.18%
126 ROSS STORES INC 24,381 1,606,000 0.18%
127 WEYERHAEUSER CO 46,245 1,571,000 0.18%
128 SYNCHRONY FINL 45,417 1,558,000 0.18%
129 COGNIZANT TECHNOLOGY SOLUTIO 26,006 1,548,000 0.17%
130 FORD MTR CO DEL 132,608 1,544,000 0.17%
131 HUNTINGTON BANCSHARES INC 114,539 1,534,000 0.17%
132 FOOT LOCKER INC 20,000 1,496,000 0.17%
133 PHILIP MORRIS INTL INC 13,209 1,491,000 0.17%
134 DOVER CORP 18,498 1,486,000 0.17%
135 PROGRESSIVE CORP OHIO 37,887 1,484,000 0.17%
136 NATIONAL OILWELL VARCO INC 36,996 1,483,000 0.17%
137 ADVANCE AUTO PARTS INC 9,986 1,481,000 0.17%
138 MONSTER BEVERAGE CORP NEW 31,612 1,460,000 0.16%
139 YUM BRANDS INC 22,290 1,424,000 0.16%
140 TEXAS INSTRS INC 17,430 1,404,000 0.16%
141 CARDINAL HEALTH INC 17,146 1,398,000 0.16%
142 STANLEY BLACK &DECKER INC 10,505 1,396,000 0.16%
143 MEAD JOHNSON NUTRITI 15,410 1,373,000 0.15%
144 JUNIPER NETWORKS 49,226 1,370,000 0.15%
145 SHERWIN WILLIAMS CO 4,388 1,361,000 0.15%
146 VULCAN MATLS CO 11,115 1,339,000 0.15%
147 SCHWAB CHARLES CORP 32,508 1,327,000 0.15%
148 KEYCORP 74,304 1,321,000 0.15%
149 PPG INDS INC 12,539 1,318,000 0.15%
150 AMETEK INC NEW 24,364 1,318,000 0.15%
Page 3 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001536262-17-000002, filed 2017.05.16).

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.