ROYAL LONDON ASSET MANAGEMENT LTD

CIK 0000863748 · Q1 2026

13F Equity AUM

$47.7B

+0.3% QoQ

Positions

680

-15 QoQ

AUM Rank

#242

Top 2%

Skill Alpha (FF)

-0.7%/yr^ns

No Clear Edge

Rank #3,245 · Top 40%

vs S&P -2.5%/yr (unadj.)

Quarters Tracked

~11 years

Portfolio Concentration

Top 5: 24.8%Top 10: 35.7%Top 20: 45.1%

NVDA6.6%

AAPL5.3%

MSFT4.4%

AZN4.3%

GOOGL4.2%

AMZN3.9%

AVGO2.6%

META1.6%

V1.4%

JPM1.4%

Others (670)64.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology30.5%

Healthcare13.6%

Financial Services11.6%

Consumer Cyclical9.9%

Industrials9.5%

Communication Services9.1%

Energy4.1%

Consumer Defensive4.1%

Other7.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 680Median: 0.04%Avg: 0.15%

0–0.5%

649(48.8%)

0.5–1%

17(10.7%)

1–3%

8(11.9%)

3–5%

4(16.8%)

5%+

2(11.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 680Unique: 0vs 20 funds

9.3%Low

680

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

13%

BANK OF AMERICA CORP /DE/

14.4%

BlackRock, Inc.

17.2%

JPMORGAN CHASE & CO

14%

VANGUARD CAPITAL MANAGEMENT LLC

19.9%

FMR LLC

23%

GEODE CAPITAL MANAGEMENT, LLC

19.4%

STATE STREET CORP

18.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

21.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New18Increased270Decreased279Exited32

New Positions

AZN4.3%

+10.3M

NXT0.4%

+1.6M

SUNBELT RENTALS HOLD…0.3%

+2.5M

SAJA0.2%

+2.7M

BWA0.1%

+1.3M

WSC0.1%

+2.5M

LITE0.1%

+56K

SNDK0.1%

+55K

QXO0.1%

+1.4M

ENPH0.0%

+408K

Increased

RPRX0.4%

+3.6M(+2019%)

EQT0.2%

+1.5M(+557%)

BKNG0.3%

+708K(+1684%)

APG0.3%

+458K(+18%)

BAC0.3%

+420K(+22%)

MICC0.0%

+369K(+43%)

CB0.4%

+326K(+156%)

TAP0.2%

+299K(+15%)

NVDA6.6%

+297K(+2%)

AMZN3.9%

+297K(+3%)

Decreased

HDB0.1%

-2,048,526(-44%)

KVUE0.0%

-1,444,853(-62%)

SLM0.1%

-1,426,671(-47%)

ELS0.1%

-943,942(-58%)

CPRT0.0%

-712,081(-59%)

CRC0.0%

-656,997(-75%)

WRB0.3%

-505,791(-18%)

RIVN0.0%

-444,942(-93%)

STLD0.4%

-426,731(-28%)

AEM0.1%

-423,163(-61%)

Exited

-663,926

-691,274

-173,362

-522,171

-82,760

-219,653

-25,622

-35,414

-62,388

-32,025

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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