Falkirk Council Pension Fund - list of investments held as at 30/09/2019 (excluding cash) Asset super category name Description Share/Par Value Market Value Equities ABB LTD CHF0.12 (REGD) 418,795.00 6,683,471.80 Equities ACCENTURE PLC SHS CL A NEW 87,287.00 13,624,648.58 Equities AIA GROUP LTD NPV 1,669,800.00 12,799,418.61 Equities ALCON INC 32,270.00 1,528,428.01 Equities ALPHABET INC STOCK USD0.001 CL A 23,799.00 23,583,470.63 Equities ALTRIA GROUP INC COM 256,535.00 8,514,388.95 Equities ANGLO AMERICAN USD0.54945 728,918.00 13,639,513.62 Equities APPLE INC COM STK 95,943.00 17,437,599.38 Equities APPLIED MATERIALS INC COM 258,586.00 10,471,022.80 Equities ASSOCD BRIT FOODS ORD GBP0.0568 459,139.00 10,573,971.17 Equities AVIVA ORD GBP0.25 2,829,944.00 11,299,966.39 Equities BAE SYSTEMS ORD GBP0.025 454,408.00 2,590,125.60 Equities BAILLIE GIFFORD DIVERSIFIED GROWTH C GROSS 101,649,053.85 248,633,585.72 Equities BARCLAYS PLC ORD GBP0.25 6,946,121.00 10,446,965.98 Equities BAYER AG NPV (REGD) 179,695.00 10,284,019.59 Equities BHP GROUP PLC ORD USD0.50 510,222.00 8,839,085.93 Equities BP ORD USD0.25 3,341,373.00 17,234,801.93 Equities BRENNTAG AG NPV 288,514.00 11,332,862.33 Equities BT GROUP ORD GBP0.05 3,549,978.00 6,339,550.71 Equities CENTRICA ORD GBP0.061728395 13,435,257.00 9,907,158.51 Equities CISCO SYSTEMS INC 345,782.00 13,864,390.67 Equities CITIGROUP INC COM NEW COM NEW 207,936.00 11,656,430.15 Equities COMPUTACENTER ORD GBP0.075555 213,629.00 2,762,222.97 Equities COSTCO WHOLESALE CORP NEW COM 33,042.00 7,725,172.94 Equities DIAGEO ORD PLC 312,452.00 10,414,025.16 Equities DNB ASA NOK10 726,116.00 10,392,433.38 Equities DRAX GROUP ORD GBP0.1155172 1,658,528.00 4,580,854.34 Equities EBARA CORP NPV 341,400.00 7,374,994.17 Equities EPAE - EUR(EX UK) EQTY IND(OFC) 43,657,451.14 59,902,388.71 Equities EVERSOURCE ENERGY COM 163,758.00 11,357,945.52 Equities FERGUSON PLC ORD GBP0.10 195,863.00 11,642,096.72 Equities GILEAD SCIENCES INC 239,066.00 12,295,709.71 Equities GLAXOSMITHKLINE ORD GBP0.25 729,732.00 12,730,904.47 Equities GOLDMAN SACHS GROUP INC COM 69,692.00 11,719,770.48 Equities GPCE - FTSE RAFI AW 3000 EQ IND (OFC) 91,400,119.74 127,553,437.10 Equities GREENSANDS HOLDINGS LIMITED COM STK 3,550,465.00 135,627.76 Equities HSBC HLDGS ORD USD0.50(UK REG) 1,936,785.00 12,097,159.11 Equities IMPERIAL BRANDS PLC GBP0.10 186,320.00 3,406,302.24 Equities PLC (GB) ORD GBP0.001 1,155,131.00 9,841,716.12 Equities INTACT FINL CORP COM NPV 148,864.00 12,165,940.88 Equities JAPAN TOBACCO INC NPV 388,900.00 6,908,933.08 Equities JPAA - JAPAN EQTY INDEX (OFC) 21,807,345.30 29,032,991.09 Equities LEGAL & GENERAL GP ORD GBP0.025 2,075,749.00 5,156,160.52 Equities LLOYDS BANKING GP ORD GBP0.1 14,935,555.00 8,083,122.37 Equities MARKS & SPENCER GP ORD GBP0.25 4,761,657.00 8,782,876.34 Equities MEDTRONIC PLC COMMON STOCK STOCK 160,438.00 14,141,666.44 Equities CORP COM 205,117.00 23,141,618.53 Equities NEXT ORD GBP0.10 54,624.00 3,379,040.64 Equities NOVARTIS AG CHF0.50 (REGD) 175,180.00 12,337,422.89 Equities NPAB - N AMERICA EQUITY INDEX (OFC) 99,480,965.12 155,807,087.57 Equities PEARSON ORD GBP0.25 1,978,219.00 14,599,256.22 Equities PPAB - ASIAPACE XJAPDEVEQTY OFC 10,656,134.61 14,045,531.35 Equities PROVIDENT FINANCIAL GROUP 1,076,289.00 4,382,648.81 Equities QINETIQ GROUP ORD GBP0.01 1,681,097.00 4,855,008.14 Equities REACH PLC ORD GBP0.10 1,255,403.00 1,114,797.86 Equities RELX PLC ORD GBP0.1444 613,969.00 11,857,412.55 Equities ROCHE HLDGS AG GENUSSCHEINE NPV 42,467.00 10,037,972.50 Equities ROYAL BK SCOT GRP ORD GBP1 6,339,959.00 13,161,754.88 Equities ROYAL DUTCH SHELL 'A'SHS EUR0.07 554,326.00 13,191,897.86 Equities ROYAL DUTCH SHELL 'B'ORD EUR0.07 599,058.00 14,353,429.68 Equities ROYAL MAIL PLC ORD GBP0.01 3,727,205.00 7,890,492.99 Equities S&P 500 INDEX OCT19 3040 C/OPT 10-18-2019 186.00 110,184.21 Equities SAINSBURY(J) ORD GBP0.28571428 3,331,401.00 7,322,419.40 Equities SAMSUNG SDI KRW5000 51,312.00 7,762,859.18 Equities SAP SE 129,766.00 12,384,874.40 Equities SOUTH32 LTD 6,569,262.00 9,394,044.66 Equities STANDARD CHARTERED PLC SHS 1,840,912.00 12,595,519.90 Equities STCB - TRANSITION CSUF STCB 259,286,108.62 278,737,752.49 Equities SUNTORY BEVERAGE & NPV 143,400.00 4,974,499.94 Equities SUZUKI MOTOR CORP NPV 368,300.00 12,684,950.06 Equities SWEDBANK AB SER'A'NPV 645,866.00 7,553,484.17 Equities TESCO ORD GBP0.05 6,703,688.00 16,155,888.08 Equities TP ICAP PLC ORD GBP0.25 2,558,579.00 8,699,168.60 Equities UNILEVER NV EUR0.16 212,554.00 10,370,615.91 Equities UPAD - UK EQUITY INDEX (OFC) 126,511,999.96 160,319,801.71 Equities VALEO EUR1 324,425.00 8,538,685.82 Equities VIVENDI SA EUR5.50 472,332.00 10,521,867.93 Equities VODAFONE GROUP ORD USD0.2095238 3,313,053.00 5,367,145.86 Equities WILLIAM HILL ORD GBP0.10 1,153,108.00 2,163,807.16 Equities WM MORRISON SUPERMARKETS ORD GBP0.10 5,678,833.00 11,374,702.50 Equities WOLTERS KLUWER EUR0.12 178,057.00 10,551,007.84 Equities WORLD EM MKTS EQTY IND (OFC) 21,685,271.79 28,845,531.68 Equities WPP PLC ORD GBP0.10 765,610.00 7,793,909.80 Total Equities 1,819,867,422.45 Fixed Income GREENSANDS EUROPE BNDS 0.0% 31/03/2021 1,385,433.00 2,059,911.66 Fixed Income BAILLIE GIFFORD & CO ACTV IDX LKD GLT PLS C ACC 14,367,784.84 43,045,883.39 Fixed Income BAILLIE GIFFORD INV GRADE BD C GROSS ACC 16,805,977.41 39,275,569.21 Fixed Income BAILLIE GIFFORD STERLING AGGREGATE BOND C G 90,950,378.62 116,143,633.50 Total Fixed Income 200,524,997.76 Real Estate INDUSTRIAL PROPERTY INVESTMENT FUND IPIF FEEDER GBP 16,573.74 20,970,490.18 Real Estate SCHRODER REAL CONTINENTAL EUROPEAN FD E 14,762.64 737,255.00 Real Estate BLACKROCK UK FD 332,915.00 14,877,638.44 Real Estate HENDERSON UK RETAIL WAREHOUSE 330.57 3,031,108.41 Real Estate HERCULES UNIT PROPERTY 8,641.00 3,791,006.16 Real Estate HERMES PROPERTY UT 2,382,199.00 16,172,749.01 Real Estate LEGAL AND GENERAL MANAGED PROPERTY FUND 162,370.81 8,744,577.40 Real Estate MAYFAIR CAP PPTY (MCPUT) 11,805.63 15,146,625.86 Real Estate METRO PPTY UNIT TR 7,747.19 4,095,087.16 Real Estate MULTI-LET INDL PROPERTY UNIT TRUST 6,315.11 8,629,913.57 Real Estate REAL INCOME FD 7,641.38 10,784,964.50 Real Estate SCHRODER INVT MGMT REGL OFFICE PPTY UNITTR 4,085.24 4,238,884.84 Real Estate SCHRODER UNIT TST UK REAL ESTATE SREF INC 431,946.80 20,569,306.52 Real Estate SCHRODERS LOCAL RETAIL FUND 3,919.47 4,237,182.24 Real Estate STANDARD LIFE POOLED PROPERTY FUND 118,503.97 9,240,212.23 Total Real Estate 145,267,001.52 Venture Capital and Partnerships ALINDA INFRASTRUCTURE PARALLEL FUND III,LP 4,188,125.98 Venture Capital and Partnerships ANCALA MIDSTREAM PARTNERS II LP 4,165,680.76 Venture Capital and Partnerships ANCALA RENEWABLES II LP 5,021,994.00 Venture Capital and Partnerships ANCALA UTILITIES I LP 9,833,607.36 Venture Capital and Partnerships BARINGS GLOBAL PRIVATE LOAN FUND 3 5,339,474.50 Venture Capital and Partnerships BROOKFIELD AMERICAS INFRASTRUCTURE FUND LP 5,190,658.13 Venture Capital and Partnerships CLAREANT EUROPEAN DIRECT LENDING FUND III (GBP) SCSP 3,602,892.53 Venture Capital and Partnerships CORAL PROJECT INVESTMENTS LP 3,189,448.83 Venture Capital and Partnerships CUSTOMISED INFRASTRUCTURE STRATEGIES (CAYMAN) LP 32,787,622.36 Venture Capital and Partnerships DALMORE CAPITAL 3 LP 8,572,673.30 Venture Capital and Partnerships DALMORE CAPITAL FUND LP 7,467,399.53 Venture Capital and Partnerships DALMORE INFRASTRUCTURE INVESTMENT 18 LP 9,782,795.42 Venture Capital and Partnerships DALMORE INFRASTRUCTURE INVESTMENT 20 LP 5,619,120.90 Venture Capital and Partnerships DALMORE INFRASTRUCTURE INVESTMENT LP 7,467,513.75 Venture Capital and Partnerships DALMORE INFRASTRUCTURE INVESTMENTS 23 LP 4,484,369.76 Venture Capital and Partnerships DALMORE INFRASTRUCTURE INVESTMENTS III LP 8,509,799.87 Venture Capital and Partnerships EQUITIX FUND II, LP 11,117,888.78 Venture Capital and Partnerships EQUITIX MA 10 LP 850,840.95 Venture Capital and Partnerships EQUITIX MA 2 LP 4,330,156.01 Venture Capital and Partnerships EUROPEAN MIDDLE MARKET PRIVATE DEBT FUNDI SCSP 14,444,628.49 Venture Capital and Partnerships EUROPEAN STRATEGIC PARTNERS 2004 B 1,872,040.55 Venture Capital and Partnerships EUROPEAN STRATEGIC PARTNERS 2006 B 3,313,531.74 Venture Capital and Partnerships EUROPEAN STRATEGIC PTNRS 2008 B 10,858,893.65 Venture Capital and Partnerships FIM WIND ENERGY LP 3,110,624.82 Venture Capital and Partnerships GAIA LP 8,054,217.56 Venture Capital and Partnerships GCM GROSVENOR CIS II OFFSHORE FEEDER FUND LP 38,252,571.19 Venture Capital and Partnerships GLOBAL INFRASTRUCTURE PARTNERS III-A/B AIV 3 L.P. 1,236,867.55 Venture Capital and Partnerships GLOBAL INFRASTRUCTURE PARTNERS III-A/B AIV L.P. 1,974,350.73 Venture Capital and Partnerships GLOBAL INFRASTRUCTURE PARTNERS III-A/B, LP 6,581,565.91 Venture Capital and Partnerships HARBERT POWER FUND V 6,918,052.14 Venture Capital and Partnerships HARBERT POWER FUND V (AIV) LLC 1,491,891.52 Venture Capital and Partnerships HOUSING FUND FOR SCOTLAND 21,857,707.79 Venture Capital and Partnerships KKR Byzantium Infrastructure Co-Invest II LP 2,300,461.87 Venture Capital and Partnerships KKR GLOBAL INFRASTRUCTURE INVESTORS III EEA USD SCSP 755,706.40 Venture Capital and Partnerships KKR STARLIGHT CO-INVEST LP 2,988,593.68 Venture Capital and Partnerships M&G UK COMPANIES FINANCING FUND 605,381.00 Venture Capital and Partnerships M&G UK COMPANIES FINANCING FUND II LP 975,162.98 Venture Capital and Partnerships MACQUARIE EUROPEAN INFRASTRUCTURE FUND 6SCSP 1,235,667.53 Venture Capital and Partnerships MCF SENIOR DEBT FUND 2019-I LP 6,308,228.39 Venture Capital and Partnerships OAKTREE PORTS AMERICA FUND, L.P 4,823,397.76 Venture Capital and Partnerships SL CAPITAL ESF I LP 10,104,473.24 Venture Capital and Partnerships WATERLOO PLACE (1) LP 3,525,500.88 Venture Capital and Partnerships WATERLOO PLACE (2) LP 3,202,984.46 Venture Capital and Partnerships WILSHIRE ASIA PRIVATE MARKETS FUND VII LP 175,873.19 Venture Capital and Partnerships WILSHIRE ASIA PRIVATE MARKETS FUND VIII LP 183,539.65 Venture Capital and Partnerships WILSHIRE EUROPEAN PRIVATE MARKETS FUND VII LP 419,409.92 Venture Capital and Partnerships WILSHIRE EUROPEAN PRIVATE MARKETS FUND VIII LP 1,745,206.41 Venture Capital and Partnerships WILSHIRE EUROPEAN PRIVATE MARKETS VI LP 433,292.29 Venture Capital and Partnerships WILSHIRE GLOBAL PRIVATE MARKETS FUND IX LP 11,946,547.34 Venture Capital and Partnerships WILSHIRE PRIVATE MARKETS LP 4,645,877.34 Venture Capital and Partnerships WILSHIRE US PRIVATE MARKETS FUND VII LP 2,485,243.51 Venture Capital and Partnerships WILSHIRE US PRIVATE MARKETS FUND VIII LP 4,949,481.73 Venture Capital and Partnerships WILSHIRE US PRIVATE MARKETS VI LP 1,765,433.38 Total Venture Capital and Partnerships 327,064,469.31 Other Assets GREENSANDS EUROPE LTD 12% PIK 3,035,891.23