Portfolio & performance

Our holdings

For full lists of investments quarterly, click here.

Top 25 holdings as at 31 December 2019

Company Industry Country £'M
Target Consumer Discretionary US 39.5
Tesco Consumer Staples UK 38.5
Newcrest Mining Materials Australia 36.3
Newmont Goldcorp Materials US 33.4
Barrick Gold Materials Canada 31.9
BT Communication Services UK 26.8
Pfizer Health Care US 24.0
Royal Dutch Shell Energy UK 22.6
Roche Health Care Switzerland 20.7
ING Financials Netherlands 19.3
United Utilities Utilities UK 19.2
GlaxoSmithKline Health Care UK 18.1
Japan Tobacco Consumer Staples Japan 17.3
East Japan Railway Industrials Japan 17.1
Kirin Consumer Staples Japan 16.6
Exxon Mobil Energy US 16.6
Pepsico Consumer Staples US 16.6
China Mobile Communication Services China 16.2
Marks & Spencer Consumer Discretionary UK 15.8
Gap Consumer Discretionary US 15.7
Royal Bank of Scotland Financials UK 15.4
Chevron Energy US 14.5
BNP Paribas Financials France 14.4
Total Energy France 14.1
British Land Real Estate UK 13.4