Directly held public equity holdings

A significant portion of our investment portfolio is invested in shares listed on equity markets around the world. We do this both directly through a portfolio of shares managed by our Investment team and through third-party managers.

Top direct public equity holdings

As at 30 September 2021

This table lists the major public equities which we hold directly and manage ourselves.

Rank 2021 Rank 2020   Total value £m Total value US$m Return on cost GBP (Inception dates differ)
1 - DoorDash 803  1,083 1.4x
2 3 Microsoft 609  821 8.7x
3 11 Alphabet 594  801 9.6x
4 2 Vonovia 508  685 2.8x
5 7 Nestle 482  650 2.2x
6 4 Apple 462  623 17.4x
7 9 Amazon 439  592 1.7x
8 14 Facebook 378  509 5.0x
9 20 HDFC Corp 342  461 1.7x
10 12 Berkshire Hathaway  340  459 3.2x
11 1 Alibaba  338  456 2.0x
12 17 Roche  326  439 2.2x
13 6 JD.com  323  436 2.4x
14 24 Bank Of America  315  425 3.6x
15 5 Syncona  314  423 1.0x
16 10 Tencent  308  415 1.4x
17 13 Unilever  306  413 1.9x
18 26 JPMorgan Chase  300  405 4.7x
19 22 AIA  283  382 1.5x
20 32 Visa  276  372 1.2x
21 15 Novartis  275  371 1.7x
22 8 Siemens  273  368 2.1x
23 19 Johnson & Johnson  266  359 2.5x
24 23 Adobe  265  357 1.5x
25 28 Cisco Systems  263  354 3.8x
26 30 Accenture  261  352 1.8x
27 33 LVMH  256  345 1.8x
28 31 HDFC Bank  255  344 1.5x
29 18 Anheuser-Busch  237  319 1.1x
30 21 Pepsico  234  316 3.6x
31 25 Nike  226  305 1.6x
32 38 Royal Dutch Shell  223  301 1.7x
33 - Linde  220  297 1.1x
34 - ServiceNow  211  285 1.3x
35 35 Bank Central  195  262 1.5x
36 34 Abbott  182  246 1.1x
37 27 Ping An  175  236 0.7x
38 40 BP  142  191 1.3x
39 41 Itau  112  151 1.1x
40 43 Rolls-Royce  62  84 0.6x

Notes: Returns include all purchases, sales and dividends since inclusion in our public equities portfolio. Some holdings originated prior to becoming publicly listed. These holdings are as at 30 September 2021, and any holdings and values may have changed since this point. Not included are any holdings representing less than 0.1% of our total portfolio.