RL
Royal London Asset Management LTD 13F Filings & Institutional Holdings (Q2 2026)
Royal London Asset Management LTDCIK: 0000863748
Diversified strategyMomentum follower
Total reported value
$54.3B
Reporting period: 2026-06-30 · Number of holdings: 678
ROYAL LONDON ASSET MANAGEMENT LTD disclosed 678 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $54.3B and a quarterly turnover rate of 22.1%.
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Personality snowflake
- Concentration
- 7.24
- Portfolio Stability
- 22.06
- Momentum
- 100
- Sector conviction
- 56.15
- Diversification
- 100
- Sizing Uniformity
- 66.4
Royal London Asset Management LTD's disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 55 equally-sized positions, well below its 678 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 3.36), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MU
-8.1% $704.7M
Trim AZN
-1.3% -$104.5M
Add AMD
-1.2% $382.8M
Add INTC
-9.4% $378.8M
Add GOOGL
+1.0% $513.9M
Trim MSFT
+2.1% $59.9M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Royal London Asset Management's June 2026 quarter reads as low-intensity rebalancing rather than a decisive rotation: across 678 positions and a turnover ratio of roughly 22%, adds clustered in mega-cap core holdings (GOOGL, NVDA, AAPL, AMZN, V) while trims landed in semiconductors (MU, AMD, INTC). Notably, all three trimmed chip names saw weights rise sharply despite reduced share counts — MU from 0.69% to 1.91% — indicating price appreciation outpaced the selling, a pattern consistent with partial profit-taking into strength rather than an exit.
Macro & Fundamentals
These flows line up directionally with the market's ongoing capital rotation into AI infrastructure, memory, and large-cap growth — Information Technology now carries roughly 36% of the book. That said, this is an inference drawn from a single end-of-quarter snapshot: 13F data shows positioning only at period close, so the alignment may reflect beta to a crowded tech trade as much as any deliberate thematic stance.
Blind Spots / Risks
The most concrete vulnerability visible in the numbers is sector-level concentration hiding behind headline diversification: with an HHI near 0.018 across 678 names, single-stock risk appears negligible, yet Information Technology alone accounts for 35.8% of assets, and the MU/AMD/INTC weight gains are price-driven rather than purchased. An unwind or positioning squeeze in the AI/memory complex would strike these passively inflated exposures simultaneously — effective factor risk is likely far larger than the position count suggests.
This narrative is generated by AI from data disclosed in this institution's SEC EDGAR Form 13F filings and describes past holdings only. It is not a recommendation to buy or sell any security; the source filing is linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 678 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.63% | +0.07% | +0.29% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 5.51% | +0.20% | +3.57% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.66% | +0.43% | +0.97% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 3.99% | -0.42% | +2.06% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.91% | +0.05% | +0.77% | |
| 6 | AZN | AstraZeneca PLC | Stock-Healthcare | 3.55% | -0.71% | -1.35% | |
| 7 | AVGO | Broadcom Inc | Stock-Tech | 2.62% | -0.02% | -7.38% | |
| 8 | MU | Micron Technology Inc | Stock-Tech | 1.91% | +1.22% | -8.14% | |
| 9 | V | Visa Inc-class A Shares | Stock-Financials | 1.61% | +0.19% | +13.88% | |
| 10 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.43% | +0.16% | -1.63% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.37% | -0.24% | -1.14% | |
| 12 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.34% | +0.21% | -4.48% | |
| 13 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.32% | -0.05% | -1.35% | |
| 14 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.31% | +0.09% | -1.39% | |
| 15 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.22% | — | +0.86% | |
| 16 | AMD | Advanced Micro Devices | Stock-Tech | 1.09% | +0.65% | -1.17% | |
| 17 | INTC | Intel CORP | Stock-Tech | 1.07% | +0.64% | -9.39% | |
| 18 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.87% | -0.09% | -1.18% | |
| 19 | CSCO | Cisco Systems Inc | Stock-Tech | 0.71% | +0.20% | +5.09% | |
| 20 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.71% | -0.02% | +3.14% | |
| 21 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 0.65% | -0.15% | -5.27% | |
| 22 | ABBV | Abbvie Inc | Stock-Healthcare | 0.62% | — | -0.68% | |
| 23 | AMAT | Applied Materials Inc | Stock-Tech | 0.61% | +0.27% | -3.95% | |
| 24 | TXN | Texas Instruments Inc | Stock-Tech | 0.60% | +0.21% | +12.64% | |
| 25 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.57% | +0.14% | -1.36% | |
| 26 | LIN | Linde plc | Stock-Materials | 0.56% | -0.02% | +5.04% | |
| 27 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.56% | -0.06% | -1.10% | |
| 28 | XOM | Exxon Mobil CORP | Stock-Energy | 0.56% | -0.24% | -1.42% | |
| 29 | LRCX | Lam Research CORP | Stock-Tech | 0.53% | +0.23% | -1.81% | |
| 30 | HD | Home Depot Inc | Stock-Consumer Disc | 0.53% | -0.03% | +0.52% | |
| 31 | FIX | Comfort Systems USA Inc | Stock-Industrials | 0.52% | +0.12% | +2.02% | |
| 32 | CNM | Core & Main Inc-class A | Stock-Industrials | 0.49% | -0.11% | -4.59% | |
| 33 | CAT | Caterpillar Inc | Stock-Industrials | 0.48% | +0.11% | -2.25% | |
| 34 | WAB | Wabtec CORP | Stock-Industrials | 0.48% | -0.04% | -3.18% | |
| 35 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.47% | +0.02% | -1.93% | |
| 36 | TTE | TotalEnergies SE | Stock-Other | 0.46% | +0.05% | +51.09% | |
| 37 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.46% | -0.05% | +2.16% | |
| 38 | STLD | Steel Dynamics Inc | Stock-Materials | 0.46% | +0.04% | -1.51% | |
| 39 | RPRX | Royalty Pharma plc | Stock-Healthcare | 0.45% | +0.07% | +13.42% | |
| 40 | CB | Chubb Limited | Stock-Financials | 0.44% | +0.07% | +31.98% | |
| 41 | WMT | Walmart Inc | Stock-Consumer Staples | 0.44% | -0.12% | -0.67% | |
| 42 | HCA | Hca Healthcare Inc | Stock-Healthcare | 0.43% | -0.14% | +4.73% | |
| 43 | PM | Philip Morris International | Stock-Consumer Staples | 0.40% | -0.02% | -0.15% | |
| 44 | FERG | Ferguson Enterprises Inc | Stock-Industrials | 0.40% | +0.06% | +31.50% | |
| 45 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.40% | — | -14.47% | |
| 46 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.40% | -0.09% | -0.86% | |
| 47 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.40% | -0.12% | -14.79% | |
| 48 | KLAC | Kla CORP | Stock-Tech | 0.40% | +0.17% | +878.84% | |
| 49 | NXT | Nextpower Inc-cl A | Stock-Tech | 0.39% | — | +15.29% | |
| 50 | ADI | Analog Devices Inc | Stock-Tech | 0.38% | +0.02% | -3.12% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.4%
Performance Last 4 Quarters
+19.9%
- Stdev
- +13.2%
- Beta
- +1.01
- Alpha
- -1.4%
- Max Drawdown
- -8.1%
- Annualized Perf
- +19.6%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.99
- Stutzer
- +0.42
- Treynor
- +0.19
- Sterling
- +1.21
- Calmar
- +2.41
- Information Ratio
- -0.77
- Tracking Error
- +1.5%
- Stdev Down
- +6.3%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +33.6%
- Worst 12 Months
- +4.8%
- Efficiency Ratio
- +0.6
- Sharpe
- +1.43
- Stdev Sectors
- +9.4%
- Skewness
- +0.18
- Kurtosis
- +0.1
- Upside Potential
- +4.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 678 | $54.3B | 22 | ||
| 2026 Q1 | 688 | $47.7B | 22 | ||
| 2025 Q4 | 702 | $47.5B | 12 | ||
| 2025 Q3 | 688 | $46.5B | 28 | ||
| 2025 Q2 | 829 | $43.8B | 0 | ||
| 2025 Q1 | 744 | $42.2B | 100 | ||
| 2024 Q4 | 632 | $41.0B | 0 | ||
| 2024 Q3 | 635 | $40.6B | 0 | ||
| 2024 Q2 | 666 | $39.2B | 0 | ||
| 2024 Q1 | 668 | $40.1B | 0 | ||
| 2023 Q4 | 677 | $35.0B | 0 | ||
| 2023 Q3 | 682 | $30.9B | 0 | ||
| 2023 Q2 | 679 | $30.9B | 0 | ||
| 2023 Q1 | 673 | $25.0B | 0 | ||
| 2022 Q4 | 680 | $22.3B | 0 | ||
| 2022 Q3 | 661 | $19.7B | 0 | ||
| 2022 Q2 | 666 | $21.7B | 0 | ||
| 2022 Q1 | 671 | $25.6B | 0 | ||
| 2021 Q4 | 659 | $26.9B | 0 | ||
| 2021 Q3 | 663 | $24.6B | 0 | ||
| 2021 Q2 | 662 | $24.5B | — | ||
| 2021 Q1 | 648 | $21.8B | — | ||
| 2020 Q4 | 697 | $19.1B | 17 | ||
| 2020 Q3 | 630 | $16.5B | 22 | ||
| 2020 Q2 | 655 | $14.3B | 20 | ||
| 2020 Q1 | 655 | $12.4B | 25 | ||
| 2019 Q4 | 637 | $14.4B | 16 | ||
| 2019 Q3 | 657 | $13.2B | 31 | ||
| 2019 Q2 | 534 | $10.6B | 30 | ||
| 2019 Q1 | 657 | $12.7B | 17 | ||
| 2018 Q4 | 663 | $11.4B | 48 | ||
| 2018 Q3 | 513 | $9.8B | 33 | ||
| 2018 Q2 | 580 | $9.9B | 59 | ||
| 2016 Q2 | 527 | $6.1B | 100 | ||
| 2016 Q1 | 522 | $69.9M | 100 | ||
| 2015 Q4 | 559 | $6.5B | 13 | ||
| 2015 Q3 | 566 | $6.2B | 100 | ||
| 2014 Q4 | 520 | $5.3B | 100 | ||
| 2014 Q3 | 520 | $4.0B | 24 | ||
| 2014 Q2 | 578 | $4.4B | 7 | ||
| 2014 Q1 | 580 | $4.3B | 15 | ||
| 2013 Q4 | 560 | $3.9B | 8 | ||
| 2013 Q3 | 566 | $3.7B | 12 | ||
| 2013 Q2 | 579 | $3.4B | — |
Holding changes this quarter
Royal London Asset Management LTD's most significant position changes for 2026-06-30: New buy: Arm Holdings Plc-adr (ARM); Sold out: Coterra Energy Inc (CTRA); Sold out: Honeywell International Inc (HON); Sold out: Willscot Holdings CORP (WSC); Sold out: Installed Building Products (IBP).
Showing top 200 changes by size (of 706 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +1.2% | -8.14% | Trim |
| 2 | AMD | Advanced Micro Devices | +0.7% | -1.17% | Trim |
| 3 | INTC | Intel CORP | +0.6% | -9.39% | Trim |
| 4 | GOOGL | Alphabet Inc-cl A | +0.4% | +0.97% | Add |
| 5 | AMAT | Applied Materials Inc | +0.3% | -3.95% | Trim |
| 6 | LRCX | Lam Research CORP | +0.2% | -1.81% | Trim |
| 7 | DHR | Danaher CORP | +0.2% | +209.66% | Add |
| 8 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -4.48% | Trim |
| 9 | TXN | Texas Instruments Inc | +0.2% | +12.64% | Add |
| 10 | AAPL | Apple Inc | +0.2% | +3.57% | Add |
| 11 | CSCO | Cisco Systems Inc | +0.2% | +5.09% | Add |
| 12 | V | Visa Inc-class A Shares | +0.2% | +13.88% | Add |
| 13 | MCO | Moody's CORP | +0.2% | +275.24% | Add |
| 14 | CIEN | Ciena CORP | +0.2% | +136.34% | Add |
| 15 | KLAC | Kla CORP | +0.2% | +878.84% | Add |
| 16 | LLY | Eli Lilly & Co | +0.2% | -1.63% | Trim |
| 17 | SNDK | Sandisk CORP | +0.2% | +0.83% | Add |
| 18 | MRVL | Marvell Technology Inc | +0.2% | -1.85% | Trim |
| 19 | UNH | Unitedhealth Group Inc | +0.1% | -1.36% | Trim |
| 20 | ARM | Arm Holdings Plc-adr | +0.1% | NEW | New buy |
| 21 | FIX | Comfort Systems USA Inc | +0.1% | +2.02% | Add |
| 22 | CAT | Caterpillar Inc | +0.1% | -2.25% | Trim |
| 23 | PANW | Palo Alto Networks Inc | +0.1% | +1.69% | Add |
| 24 | WDC | Western Digital CORP | +0.1% | -9.16% | Trim |
| 25 | STX | Seagate Technology Holdings plc | +0.1% | +8.01% | Add |
| 26 | DVN | Devon Energy CORP | +0.1% | +520.10% | Add |
| 27 | NBIS | Nebius Group N.V. | +0.1% | +758.97% | Add |
| 28 | GOOG | Alphabet Inc-cl C | +0.1% | -1.39% | Trim |
| 29 | CACI | Caci International Inc -cl A | +0.1% | +160.36% | Add |
| 30 | NET | Cloudflare Inc - Class A | +0.1% | +89.91% | Add |
| 31 | NVDA | Nvidia CORP | +0.1% | +0.29% | Add |
| 32 | CB | Chubb Limited | +0.1% | +31.98% | Add |
| 33 | RPRX | Royalty Pharma plc | +0.1% | +13.42% | Add |
| 34 | QCOM | Qualcomm Inc | +0.1% | -3.71% | Trim |
| 35 | RACE | Ferrari N.V. | +0.1% | +28.11% | Add |
| 36 | FERG | Ferguson Enterprises Inc | +0.1% | +31.50% | Add |
| 37 | HUBB | Hubbell Inc | +0.1% | +25.90% | Add |
| 38 | URI | United Rentals Inc | +0.1% | -0.72% | Trim |
| 39 | GLW | Corning Inc | +0.1% | +0.64% | Add |
| 40 | DELL | Dell Technologies -c | +0.1% | -1.12% | Trim |
| 41 | ✓ | +0.1% | NEW | New buy | |
| 42 | ✓ | +0.1% | NEW | New buy | |
| 43 | ✓ | +0.1% | NEW | New buy | |
| 44 | AMZN | Amazon.com Inc | +0.1% | +0.77% | Add |
| 45 | TTE | TotalEnergies SE | +0.1% | +51.09% | Add |
| 46 | SBS | Cia Saneamento Basico De-adr | +0.1% | +673.66% | Add |
| 47 | FTNT | Fortinet Inc | +0.1% | -25.08% | Trim |
| 48 | WPM | Wheaton Precious Metals CORP | +0.1% | +66.05% | Add |
| 49 | STLD | Steel Dynamics Inc | 0% | -1.51% | Trim |
| 50 | GE | General Electric | 0% | -0.97% | Trim |
1–50 of 200
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Royal London Asset Management LTD and what type of investor is it?
Royal London Asset Management LTD is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $54.3B, spread across 678 disclosed positions.
What are Royal London Asset Management LTD's largest equity positions?
Based on the latest 13F filing, Royal London Asset Management LTD's top holdings by market value are:
1. Nvidia CORP (NVDA) — $3.6B (6.6%)
2. Apple Inc (AAPL) — $3.0B (5.5%)
3. Alphabet Inc-cl A (GOOGL) — $2.5B (4.7%)
4. Microsoft CORP (MSFT) — $2.2B (4.0%)
5. Amazon.com Inc (AMZN) — $2.1B (3.9%)
What changes did Royal London Asset Management LTD make in its most recent portfolio filing?
In the latest reported quarter, Royal London Asset Management LTD made 200 notable position adjustments: 6 new positions were initiated, 67 existing holdings were added to, 120 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: Arm Holdings Plc-adr (ARM); Sold out: Coterra Energy Inc (CTRA); Sold out: Honeywell International Inc (HON); Sold out: Willscot Holdings CORP (WSC); Sold out: Installed Building Products (IBP)
What sectors does Royal London Asset Management LTD focus on?
Royal London Asset Management LTD is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.8%
• Health Care: 13.0%
• Financials: 11.0%
• Industrials: 9.6%
• Consumer Discretionary: 9.6%
• Communication Services: 9.0%
Investment Profile
Royal London Asset Management LTD returned an annualized 19.6% over the trailing 36 months — underperforming the S&P 500 by 1.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.01 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 35.8% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 22 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$714.6M, now $1.0B), while trimming META over the same stretch (-$132.9M, still holding $745.1M).
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Developer Access
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