RWC Asset Management LLP

CIK 0001520478 · Q1 2026

13F Equity AUM

$2.4B

+17.9% QoQ

Positions

163

-3 QoQ

AUM Rank

#1,610

Top 13%

Skill Alpha (FF)

-0.9%/yr^ns

No Clear Edge

Rank #3,585 · Top 44%

vs S&P -3.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 28.6%Top 10: 42.5%Top 20: 59.5%

M8.5%

CMCSA7.3%

7HP5.0%

KHC4.5%

PEO3.4%

SQM3.2%

LEA3.2%

JNJ2.6%

EDG2.5%

PBR2.3%

Others (153)57.5%

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

Sector Allocation

Utilities17.0%

Consumer Cyclical13.6%

Consumer Defensive11.9%

Communication Services10.3%

Technology9.2%

Basic Materials8.5%

Energy7.0%

Healthcare6.3%

Other16.3%

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

Position Sizing

Positions: 163Median: 0.22%Avg: 0.61%

0–0.5%

115(16.0%)

0.5–1%

20(14.9%)

1–3%

21(34.0%)

3–5%

5(19.3%)

5%+

2(15.8%)

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

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Portfolio Overlap

Shared: 163Unique: 0vs 20 funds

2.2%Low

163

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)

3.9%

4.5%

3.1%

2.8%

4.9%

BANK OF AMERICA CORP /DE/

VANGUARD CAPITAL MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

2.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.3%

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

New22Increased49Decreased63Exited25

New Positions

CMCSA7.3%

+6.1M

KHC4.5%

+4.8M

BAX2.1%

+3.1M

WMB1.0%

+321K

VSNT0.6%

+416K

CHRD0.6%

+107K

TSM0.5%

+33K

OC0.4%

+87K

HIGHLANDER SILVER CO…0.2%

+692K

IRTC 1.5 09/01/290.1%

+1.5M

Increased

UBER 0.875 12/01/28 0.4%

+5.8M(+242%)

MSTR 0.625 09/15/280.3%

+4.1M(+224%)

PBR2.3%

+2.1M(+431%)

BBIO 2.25 02/01/290.1%

+1.8M(+121%)

PSN 2.625 03/01/290.2%

+1.5M(+60%)

COIN 0.5 06/01/260.1%

+655K(+109%)

NTNX 0.25 10/01/270.1%

+497K(+44%)

BZ0.5%

+400K(+88%)

M8.5%

+309K(+3%)

AVAV 0 07/15/300.1%

+300K(+33%)

Decreased

SO 4.5 06/15/270.3%

-4,510,000(-39%)

PNW 4.75 06/15/270.1%

-2,410,000(-49%)

CNP 4.25 08/15/260.2%

-1,800,000(-27%)

TCOM 0.75 06/15/290.1%

-1,473,000(-30%)

WEC 4.375 06/01/290.5%

-1,200,000(-12%)

COIN 0.25 04/01/300.3%

-1,093,000(-12%)

AKAM 1.125 02/15/290.8%

-1,058,000(-6%)

GPN 1.5 03/01/310.3%

-1,018,000(-13%)

AWK 3.625 06/15/260.3%

-1,000,000(-11%)

PCG 4.25 12/01/270.2%

-647,000(-14%)

Exited

-806,568

-41,424

-10,241,000

-9,117,000

-164,125

-7,080,000

-5,607,000

-4,550,000

-2,766,000

-3,870,000

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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