Impax Asset Management 13F, Q3 2025
Impax Asset Management · quarter ending 30 September 2025 · filed 6 November 2025 · SEC CIK 1749768
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 275 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| Linde PLC | $906.69M | 5.3% | unchanged | |
| Microsoft Corp | MSFT | $806.97M | 4.7% | unchanged |
| Xylem Inc/NY | XYL | $782.91M | 4.6% | -3% shares |
| NVIDIA Corp | NVDA | $593.32M | 3.5% | -17% shares |
| Veralto Corp | VLTO | $408.50M | 2.4% | +4% shares |
| Hubbell Inc | HUBB | $402.38M | 2.4% | -7% shares |
| Pentair PLC | $396.31M | 2.3% | -19% shares | |
| Aptiv PLC | $389.99M | 2.3% | +55% shares | |
| Agilent Technologies Inc | A | $380.15M | 2.2% | -2% shares |
| A O Smith Corp | AOS | $356.05M | 2.1% | +3% shares |
| Advanced Drainage Systems Inc | WMS | $345.79M | 2.0% | -18% shares |
| IDEX Corp | IEX | $319.14M | 1.9% | unchanged |
| RenaissanceRe Holdings Ltd | $309.90M | 1.8% | unchanged | |
| Synopsys Inc | SNPS | $305.51M | 1.8% | unchanged |
| Marvell Technology Inc | MRVL | $304.26M | 1.8% | +7% shares |
| KLA Corp | KLAC | $271.23M | 1.6% | -27% shares |
| eBay Inc | EBAY | $255.84M | 1.5% | -26% shares |
| Zoetis Inc | ZTS | $247.82M | 1.4% | +44% shares |
| Carrier Global Corp | CARR | $246.71M | 1.4% | +54% shares |
| Waste Management Inc | WM | $246.68M | 1.4% | unchanged |
| American Water Works Co Inc | AWK | $240.66M | 1.4% | unchanged |
| Applied Materials Inc | AMAT | $221.08M | 1.3% | -19% shares |
| Cintas Corp | CTAS | $213.31M | 1.2% | +14% shares |
| Watts Water Technologies Inc | WTS | $207.49M | 1.2% | -15% shares |
| Cia de Saneamento Basico do Es | SBS | $203.34M | 1.2% | -10% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Impax Asset Management opened 21 new positions, added to 53, trimmed 132, left 69 unchanged and exited 26. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 13 more
Exited
- ANSYS Incwas $111.74M
- DCIwas $56.82M
- AVTRwas $12.98M
- MCDwas $11.62M
- Merus NVwas $9.47M
- CDWwas $6.73M
- ELwas $6.70M
- INSPwas $6.49M
and 18 more
Other quarters
Source: SEC Form 13F-HR, accession 0001749768-25-000052, filed by Impax Asset Management Group plc. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.