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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
151 TYSON FOODS INC 20,555 1,268,000 0.14%
152 APACHE CORP 24,571 1,263,000 0.14%
153 REPUBLIC SVCS INC 19,794 1,243,000 0.14%
154 COMERICA INC 17,865 1,225,000 0.14%
155 LAS VEGAS SANDS CORP 21,448 1,224,000 0.14%
156 MCDONALDS CORP 9,343 1,211,000 0.14%
157 CONOCOPHILLIPS 23,942 1,194,000 0.13%
158 CARNIVAL CORP 20,271 1,194,000 0.13%
159 ACTIVISION BLIZZARD INC 23,799 1,187,000 0.13%
160 SMUCKER J M CO 9,057 1,187,000 0.13%
161 ENVISION HEALTHCARE CORP 19,216 1,178,000 0.13%
162 BAXTER INTL INC 22,397 1,162,000 0.13%
163 SPRINT CORP 132,852 1,153,000 0.13%
164 INVESCO LTD 37,457 1,147,000 0.13%
165 NORFOLK SOUTHERN CORP 10,174 1,139,000 0.13%
166 MORGAN STANLEY 26,282 1,126,000 0.13%
167 HANESBRANDS INC 53,644 1,114,000 0.13%
168 ALLY FINL INC 54,261 1,106,000 0.12%
169 ALCOA CORP 30,916 1,063,000 0.12%
170 DELTA AIRLINES INC DEL 22,710 1,044,000 0.12%
171 BLACKROCK INC 2,519 966,000 0.11%
172 MOSAIC CO NEW 32,522 949,000 0.11%
173 CSX CORP 20,348 947,000 0.11%
174 MACYS INC 31,447 932,000 0.10%
175 SALESFORCE COM INC 10,762 888,000 0.10%
176 TRIPADVISOR INC 19,859 857,000 0.10%
177 NIKE INC 15,261 850,000 0.10%
178 MARVELL TECHNOLOGY GROUP LTD 54,404 830,000 0.09%
179 WHIRLPOOL CORP 4,645 796,000 0.09%
180 HESS CORP 16,114 777,000 0.09%
181 YAHOO INC 16,313 757,000 0.09%
182 SPROUTS FMRS MKT INC 32,508 752,000 0.08%
183 BECTON DICKINSON & CO 3,789 695,000 0.08%
184 FLUOR CORP NEW 12,821 675,000 0.08%
185 BORGWARNER INC 14,815 619,000 0.07%
186 FREEPORT-MCMORAN INC 45,997 615,000 0.07%
187 YUM CHINA HLDGS INC 22,290 606,000 0.07%
188 COOPER COS INC 2,443 488,000 0.05%
189 CME GROUP INC 3,922 466,000 0.05%
190 DOLLAR GEN CORP NEW 6,558 457,000 0.05%
191 ABBOTT LABS 9,611 427,000 0.05%
192 CIGNA CORPORATION 2,323 340,000 0.04%
193 DELL TECHNOLOGIES INC 4,397 282,000 0.03%
194 OCCIDENTAL PETE CORP DEL 4,331 274,000 0.03%
195 PAYPAL HLDGS INC 6,318 272,000 0.03%
196 DR PEPPER SNAPPLE GROUP INC 2,578 252,000 0.03%
197 ADVANSIX INC 953 26,000 0.00%
198 MOTOROLA SOLUTIONS INC 273 24,000 0.00%
Page 4 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.