CIK: 0001351991
Total reported value
$23.4B
Reporting period: 2026-03-31 · Number of holdings: 643
Rathbones Group PLC disclosed 643 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $23.4B and a quarterly turnover rate of 19.3%.
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Rathbones Group PLC's disclosed holdings carry a Herfindahl concentration index of 0.020 — mathematically equivalent to about 49 equally-sized positions, well below its 643 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.47), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
+2.9% -$360.9M
Trim BKNG
-27.1% -$148.4M
Trim CRM
-67.4% -$123.2M
Trim V
-2.3% -$179.9M
Trim ADBE
-66.1% -$107.1M
Trim ACN
-20.6% -$100.5M
Rathbones is executing a deliberate capital rotation this quarter, not a wholesale sector shift or a defensive repositioning. The firm trimmed positions in V, AMZN, GOOGL, BKNG, and CRM while adding to MSFT and seeding two new names — a clear bet on selective momentum within the technology complex rather than a broad tech reallocation.
The portfolio's massive overweight in Information Technology (26.2%) and Financials (20.4%), coupled with near-zero exposure to Energy and Utilities, embeds a bet that the prevailing disinflationary growth regime will persist and that financials will benefit from a steepening yield curve. The opposing thesis is a stagflationary spike or a regulatory clampdown that punishes big tech margins and erodes financial sector net interest margins simultaneously.
Despite scoring 100% on momentum, the portfolio's relatively low turnover (19%) creates a possible 'sleeper momentum' trap — positions that were winners are held too long past their peak, while the new buys are too small to offset the drag. The extreme diversification (643 positions) masks that a 2.6% move in tech could drive the entire portfolio's return, given the concentrated sector bet.
This summary was generated by AI from publicly filed SEC data and reflects historical holdings only — it is not a recommendation to buy or sell.
Showing top 200 holdings (of 643 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 5.72% | -1.00% | +2.89% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.12% | -0.20% | -2.96% | |
| 3 | AMZN | Amazon.com INC | Stock-Consumer Disc | 4.63% | -0.21% | -1.75% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 4.51% | — | +5.70% | |
| 5 | V | Visa Inc-class A Shares | Stock-Financials | 4.10% | -0.41% | -2.29% | |
| 6 | AAPL | Apple INC | Stock-Tech | 3.56% | +0.17% | +4.08% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 3.41% | -0.08% | -0.81% | |
| 8 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 2.00% | -0.13% | +2.93% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.00% | +0.03% | -1.40% | |
| 10 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.95% | +0.31% | +1.46% | |
| 11 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.93% | -0.20% | -8.06% | |
| 12 | APH | Amphenol Corp-cl A | Stock-Tech | 1.66% | — | +8.60% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.65% | -0.17% | -3.06% | |
| 14 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.64% | -0.03% | +6.60% | |
| 15 | AVGO | Broadcom INC | Stock-Tech | 1.50% | — | +17.22% | |
| 16 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.48% | +0.25% | +0.73% | |
| 17 | ABT | Abbott Laboratories | Stock-Healthcare | 1.40% | -0.15% | +2.50% | |
| 18 | CRH | CRH plc | Stock-Materials | 1.27% | -0.05% | +5.71% | |
| 19 | CME | Cme Group INC | Stock-Financials | 1.25% | — | -0.92% | |
| 20 | TTE | Totalenergies Se | Stock-Other | 1.24% | +1.24% | NEW | |
| 21 | LIN | Linde plc | Stock-Materials | 1.24% | +0.21% | -3.70% | |
| 22 | GS | Goldman Sachs Group INC | Stock-Financials | 1.10% | — | +3.94% | |
| 23 | MA | Mastercard INC - A | Stock-Financials | 1.09% | -0.11% | -4.14% | |
| 24 | SPGI | S&p Global INC | Stock-Financials | 1.02% | -0.30% | -11.66% | |
| 25 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 1.01% | — | +1.86% | |
| 26 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.00% | — | -14.09% | |
| 27 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.95% | — | +3.11% | |
| 28 | EQIX | Equinix INC | Stock-Real Estate | 0.90% | +0.23% | -3.56% | |
| 29 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.85% | -0.19% | +15.21% | |
| 30 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.85% | -0.53% | -27.12% | |
| 31 | HD | Home Depot INC | Stock-Consumer Disc | 0.85% | — | -2.21% | |
| 32 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.83% | -0.17% | -5.56% | |
| 33 | XOM | Exxon Mobil CORP | Stock-Energy | 0.78% | +0.35% | +20.06% | |
| 34 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.77% | +0.15% | -2.96% | |
| 35 | SHOP | Shopify INC - Class A | Stock-Tech | 0.77% | -0.12% | +7.78% | |
| 36 | CDNS | Cadence Design Sys INC | Stock-Tech | 0.75% | — | +2.73% | |
| 37 | KKR | Kkr & Co INC | Stock-Financials | 0.72% | -0.04% | +20.68% | |
| 38 | FCX | Freeport-mcmoran INC | Stock-Materials | 0.71% | +0.35% | +57.11% | |
| 39 | CAT | Caterpillar INC | Stock-Industrials | 0.70% | +0.31% | +34.12% | |
| 40 | DE | Deere & Co | Stock-Industrials | 0.67% | — | -12.03% | |
| 41 | MSI | Motorola Solutions INC | Stock-Tech | 0.67% | +0.34% | +64.40% | |
| 42 | RTX | Rtx CORP | Stock-Industrials | 0.66% | — | -3.18% | |
| 43 | PANW | Palo Alto Networks INC | Stock-Tech | 0.65% | — | +9.90% | |
| 44 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.64% | — | +1.18% | |
| 45 | SUNB | Sunbelt Rentals Holdings INC | Stock-Industrials | 0.63% | +0.62% | NEW | |
| 46 | PH | Parker Hannifin CORP | Stock-Industrials | 0.62% | +0.23% | +44.00% | |
| 47 | CVX | Chevron CORP | Stock-Energy | 0.62% | +0.17% | -6.63% | |
| 48 | FERG | Ferguson Enterprises INC | Stock-Industrials | 0.61% | -0.09% | -22.11% | |
| 49 | ACN | Accenture plc | Stock-Tech | 0.61% | -0.35% | -20.59% | |
| 50 | USB | US Bancorp | Stock-Financials | 0.53% | — | +25.33% |
Performance for Q3 2026
+0.1%
Performance Last 4 Quarters
+11.4%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 643 | $23.4B | 19 | |
| 2025-12-31 | 628 | $25.3B | 12 | |
| 2025-09-30 | 639 | $24.6B | 26 | |
| 2025-06-30 | 627 | $23.2B | 0 | |
| 2025-03-31 | 603 | $20.7B | 100 | |
| 2024-12-31 | 609 | $20.7B | 0 | |
| 2024-09-30 | 605 | $19.8B | 0 | |
| 2024-06-30 | 616 | $18.4B | 0 | |
| 2024-03-31 | 615 | $17.3B | 0 | |
| 2023-12-31 | 615 | $15.5B | 0 | |
| 2023-09-30 | 632 | $13.8B | 0 | |
| 2023-06-30 | 411 | $10.7B | 0 | |
| 2023-03-31 | 412 | $9.8B | 0 | |
| 2022-12-31 | 422 | $8.9B | 0 | |
| 2022-09-30 | 415 | $8.1B | 0 | |
| 2022-06-30 | 427 | $8.7B | 0 | |
| 2022-03-31 | 421 | $9.8B | 0 | |
| 2021-12-31 | 422 | $10.3B | 0 | |
| 2021-09-30 | 422 | $9.3B | 0 | |
| 2021-06-30 | 424 | $9.0B | 100 | |
| 2021-03-31 | 403 | $7.8B | 21 | |
| 2020-12-31 | 386 | $7.0B | 21 | |
| 2020-09-30 | 373 | $5.8B | 23 | |
| 2020-06-30 | 352 | $4.9B | 38 | |
| 2020-03-31 | 323 | $3.4B | 22 | |
| 2019-12-31 | 334 | $3.8B | 16 | |
| 2019-09-30 | 328 | $3.5B | 18 | |
| 2019-06-30 | 315 | $3.2B | 14 | |
| 2019-03-31 | 313 | $3.0B | 21 | |
| 2018-12-31 | 315 | $2.6B | 27 | |
| 2018-09-30 | 302 | $2.9B | 15 | |
| 2018-06-30 | 304 | $2.6B | 19 | |
| 2018-03-31 | 313 | $2.5B | 20 | |
| 2017-12-31 | 320 | $2.5B | 14 | |
| 2017-09-30 | 318 | $2.3B | 14 | |
| 2017-06-30 | 318 | $2.2B | 15 | |
| 2017-03-31 | 323 | $2.2B | 18 | |
| 2016-12-31 | 311 | $2.0B | 19 | |
| 2016-09-30 | 309 | $1.9B | 16 | |
| 2016-06-30 | 304 | $1.8B | 18 | |
| 2016-03-31 | 305 | $1.6B | 19 | |
| 2015-12-31 | 296 | $1.6B | 24 | |
| 2015-09-30 | 307 | $1.5B | 21 | |
| 2015-06-30 | 321 | $1.5B | 12 | |
| 2015-03-31 | 327 | $1.5B | 21 | |
| 2014-12-31 | 330 | $1.5B | 19 | |
| 2014-09-30 | 309 | $1.4B | 19 | |
| 2014-06-30 | 294 | $1.4B | 22 | |
| 2014-03-31 | 289 | $1.2B | 32 | |
| 2013-12-31 | 212 | $1.0B | 29 | |
| 2013-09-30 | 261 | $858.4M | 21 | |
| 2013-06-30 | 241 | $742.5M | — |
Rathbones Group PLC's most significant position changes for 2026-03-31: New buy: Totalenergies Se (TTE); New buy: Sunbelt Rentals Holdings INC (SUNB); Sold out: Liberty Media Corp-formula-c (FWONK); Add: Microsoft CORP (MSFT) — shares +2.89%; Trim: Booking Holdings INC (BKNG) — shares -27.12%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | +0.4% | +20.06% | Add |
| 2 | FCX | Freeport-mcmoran INC | +0.4% | +57.11% | Add |
| 3 | MSI | Motorola Solutions INC | +0.3% | +64.40% | Add |
| 4 | CAT | Caterpillar INC | +0.3% | +34.12% | Add |
| 5 | KO | Coca-cola Co/the | +0.3% | +1.46% | Add |
| 6 | CRWD | Crowdstrike Holdings INC - A | +0.3% | +1242.66% | Add |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.3% | +0.73% | Add |
| 8 | PH | Parker Hannifin CORP | +0.2% | +44.00% | Add |
| 9 | EQIX | Equinix INC | +0.2% | -3.56% | Trim |
| 10 | NFLX | Netflix INC | +0.2% | +53.69% | Add |
| 11 | LIN | Linde plc | +0.2% | -3.70% | Trim |
| 12 | CVX | Chevron CORP | +0.2% | -6.63% | Trim |
| 13 | AAPL | Apple INC | +0.2% | +4.08% | Add |
| 14 | JNJ | Johnson & Johnson | +0.2% | -2.96% | Trim |
| 15 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -1.40% | Trim |
| 16 | LLY | Eli Lilly & Co | 0% | +6.60% | Add |
| 17 | KKR | Kkr & Co INC | 0% | +20.68% | Add |
| 18 | CRH | CRH plc | -0.1% | +5.71% | Add |
| 19 | CTAS | Cintas CORP | -0.1% | -12.40% | Trim |
| 20 | JPM | Jpmorgan Chase & Co | -0.1% | -0.81% | Trim |
| 21 | MLM | Martin Marietta Materials | -0.1% | -17.76% | Trim |
| 22 | BR | Broadridge Financial Solutio | -0.1% | -2.13% | Trim |
| 23 | ROL | Rollins INC | -0.1% | -12.24% | Trim |
| 24 | FERG | Ferguson Enterprises INC | -0.1% | -22.11% | Trim |
| 25 | WMT | Walmart INC | -0.1% | -28.83% | Trim |
| 26 | DIS | Walt Disney Co/the | -0.1% | -27.37% | Trim |
| 27 | MA | Mastercard INC - A | -0.1% | -4.14% | Trim |
| 28 | TJX | Tjx Companies INC | -0.1% | -27.80% | Trim |
| 29 | SHOP | Shopify INC - Class A | -0.1% | +7.78% | Add |
| 30 | TMO | Thermo Fisher Scientific INC | -0.1% | +2.93% | Add |
| 31 | ABT | Abbott Laboratories | -0.2% | +2.50% | Add |
| 32 | NOW | Servicenow INC | -0.2% | -7.48% | Trim |
| 33 | META | Meta Platforms Inc-class A | -0.2% | -3.06% | Trim |
| 34 | ISRG | Intuitive Surgical INC | -0.2% | -5.56% | Trim |
| 35 | BSX | Boston Scientific CORP | -0.2% | +15.21% | Add |
| 36 | GOOGL | Alphabet Inc-cl A | -0.2% | -2.96% | Trim |
| 37 | GOOG | Alphabet Inc-cl C | -0.2% | -8.06% | Trim |
| 38 | AMZN | Amazon.com INC | -0.2% | -1.75% | Trim |
| 39 | SPGI | S&p Global INC | -0.3% | -11.66% | Trim |
| 40 | INTU | Intuit INC | -0.3% | -13.62% | Trim |
| 41 | LMT | Lockheed Martin CORP | -0.3% | -91.97% | Trim |
| 42 | ACN | Accenture plc | -0.4% | -20.59% | Trim |
| 43 | V | Visa Inc-class A Shares | -0.4% | -2.29% | Trim |
| 44 | ADBE | Adobe INC | -0.4% | -66.12% | Trim |
| 45 | CRM | Salesforce INC | -0.5% | -67.39% | Trim |
| 46 | BKNG | Booking Holdings INC | -0.5% | -27.12% | Trim |
| 47 | MSFT | Microsoft CORP | -1% | +2.89% | Add |
| 48 | TTE | Totalenergies Se | — | NEW | New buy |
| 49 | SUNB | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| 50 | FWONK | Liberty Media Corp-formula-c | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | Amendment | View on EDGAR |
| 2025-12-31 | 2026-01-21 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-04 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-11-03 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-11 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-04 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-30 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-04 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-12 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-06 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-24 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-24 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-06 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-02 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-24 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-03 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-08 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-19 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-27 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-05 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-10 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-21 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-23 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-02 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-11 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-04-10 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-10 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-11 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-06 | 13F-HR | View on EDGAR |
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