# ROYAL LONDON ASSET MANAGEMENT LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 863748. Source: https://holderbook.com/funds/863748-royal-london-asset-management-ltd/

- Reported value: $54.3B
- Positions: 678
- Weight of the ten largest: 35.8%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.6B | 17,986,795 | 6.6% | 32 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $3.0B | 10,335,156 | 5.5% | 28 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.5B | 7,081,882 | 4.7% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.2B | 5,802,929 | 4.0% | 32 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.1B | 8,904,735 | 3.9% | 28 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $1.9B | 10,161,026 | 3.5% | 2 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.4B | 3,763,485 | 2.6% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.0B | 895,924 | 1.9% | 32 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $874.9M | 2,550,065 | 1.6% | 32 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $774.7M | 645,864 | 1.4% | 32 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $745.1M | 1,322,699 | 1.4% | 32 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $726.5M | 1,521,260 | 1.3% | 32 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $716.8M | 2,189,863 | 1.3% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $709.1M | 2,007,007 | 1.3% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $663.1M | 1,576,565 | 1.2% | 32 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $592.8M | 1,020,521 | 1.1% | 28 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $581.8M | 4,166,552 | 1.1% | 32 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $472.0M | 943,362 | 0.9% | 28 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $387.3M | 3,297,324 | 0.7% | 32 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $383.8M | 2,987,037 | 0.7% | 32 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $354.8M | 209,028 | 0.7% | 32 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $337.8M | 1,342,483 | 0.6% | 32 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $332.6M | 460,003 | 0.6% | 28 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $324.7M | 1,089,192 | 0.6% | 32 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $309.8M | 745,305 | 0.6% | 32 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $304.9M | 587,555 | 0.6% | 13 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $302.1M | 1,189,474 | 0.6% | 32 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $301.6M | 2,206,288 | 0.6% | 32 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $286.7M | 661,673 | 0.5% | 7 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $285.7M | 810,136 | 0.5% | 32 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $279.5M | 141,047 | 0.5% | 14 |
| CORE & MAIN INC | [CNM](https://holderbook.com/stocks/CNM/) | $264.8M | 5,488,673 | 0.5% | 11 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $259.1M | 243,317 | 0.5% | 31 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $259.1M | 960,916 | 0.5% | 32 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $252.6M | 249,777 | 0.5% | 32 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $251.5M | 3,234,658 | 0.5% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $251.3M | 1,713,412 | 0.5% | 32 |
| STEEL DYNAMICS INC | [STLD](https://holderbook.com/stocks/STLD/) | $248.5M | 1,082,794 | 0.5% | 32 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $242.2M | 4,319,595 | 0.4% | 22 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $240.5M | 705,898 | 0.4% | 22 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $240.5M | 2,123,512 | 0.4% | 32 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $235.6M | 604,401 | 0.4% | 32 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $219.5M | 1,213,109 | 0.4% | 32 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $218.1M | 919,100 | 0.4% | 8 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $218.1M | 651,474 | 0.4% | 8 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $217.9M | 232,968 | 0.4% | 32 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $217.2M | 433,314 | 0.4% | 32 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $216.4M | 717,115 | 0.4% | 32 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $214.1M | 1,796,811 | 0.4% | 2 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $207.1M | 521,402 | 0.4% | 28 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $200.6M | 2,809,691 | 0.4% | 32 |
| HUBBELL INC | [HUBB](https://holderbook.com/stocks/HUBB/) | $199.3M | 380,948 | 0.4% | 12 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $198.5M | 386,414 | 0.4% | 32 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $198.4M | 1,073,880 | 0.4% | 32 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $196.4M | 167,148 | 0.4% | 9 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $192.2M | 514,379 | 0.4% | 20 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $191.9M | 1,007,284 | 0.4% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $188.0M | 1,388,736 | 0.3% | 32 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $181.5M | 3,184,637 | 0.3% | 28 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $177.9M | 477,736 | 0.3% | 22 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $171.9M | 3,468,512 | 0.3% | 22 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $164.4M | 992,042 | 0.3% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $160.9M | 1,097,932 | 0.3% | 32 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $160.5M | 1,974,839 | 0.3% | 32 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $158.3M | 716,972 | 0.3% | 32 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $157.5M | 579,158 | 0.3% | 32 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $156.9M | 394,516 | 0.3% | 32 |
| CIENA CORP | [CIEN](https://holderbook.com/stocks/CIEN/) | $156.3M | 318,654 | 0.3% | 3 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $153.5M | 702,739 | 0.3% | 32 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $151.5M | 4,739,835 | 0.3% | 32 |
| API GROUP CORP | [APG](https://holderbook.com/stocks/APG/) | $151.2M | 3,570,979 | 0.3% | 9 |
| BERKLEY W R CORP | [WRB](https://holderbook.com/stocks/WRB/) | $149.2M | 2,115,249 | 0.3% | 28 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $145.7M | 817,543 | 0.3% | 31 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $144.9M | 319,889 | 0.3% | 32 |
| HALOZYME THERAPEUTICS INC | [HALO](https://holderbook.com/stocks/HALO/) | $141.7M | 1,810,815 | 0.3% | 6 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $137.6M | 121,462 | 0.3% | 32 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $134.3M | 263,615 | 0.2% | 32 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $132.6M | 388,809 | 0.2% | 32 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $132.0M | 631,430 | 0.2% | 32 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $131.3M | 294,428 | 0.2% | 32 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $129.9M | 435,902 | 0.2% | 21 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $129.2M | 841,090 | 0.2% | 23 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $127.3M | 199,352 | 0.2% | 32 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $126.8M | 55,769 | 0.2% | 2 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $126.8M | 524,049 | 0.2% | 28 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $124.9M | 1,070,132 | 0.2% | 20 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $124.2M | 241,152 | 0.2% | 8 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $124.2M | 1,502,670 | 0.2% | 32 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $122.9M | 125,644 | 0.2% | 32 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $122.7M | 436,289 | 0.2% | 32 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $121.0M | 1,311,331 | 0.2% | 32 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $120.1M | 857,832 | 0.2% | 32 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $119.9M | 679,885 | 0.2% | 28 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $119.9M | 241,280 | 0.2% | 32 |
| COMPANHIA DE SANEAMENTO BASI | [SBS](https://holderbook.com/stocks/SBS/) | $118.8M | 20,552,459 | 0.2% | 2 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $118.6M | 625,346 | 0.2% | 23 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $118.3M | 123,076 | 0.2% | 7 |
| AGCO CORP | [AGCO](https://holderbook.com/stocks/AGCO/) | $118.3M | 988,533 | 0.2% | 12 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $117.4M | 304,801 | 0.2% | 31 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $116.9M | 1,040,429 | 0.2% | 15 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.9% | +14.8% | -0.9% | 100% |
| Q1 2026 | -4.8% | -4.6% | -0.2% | 100% |
| Q4 2025 | +2.6% | +2.4% | +0.2% | 100% |
| Q3 2025 | +7.0% | +7.8% | -0.8% | 100% |
| Q2 2025 | +11.0% | +10.5% | +0.6% | 100% |
| Q1 2025 | -4.2% | -4.6% | +0.4% | 100% |
| Q4 2024 | +1.4% | +2.1% | -0.8% | 100% |
| Q3 2024 | +5.3% | +5.4% | -0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $54.3B | 678 |
| Q1 2026 | $47.7B | 688 |
| Q4 2025 | $47.5B | 702 |
| Q3 2025 | $46.5B | 688 |
| Q2 2025 | $43.8B | 715 |
| Q1 2025 | $42.2B | 744 |
| Q4 2024 | $41.0B | 632 |
| Q3 2024 | $40.6B | 634 |
| Q2 2024 | $39.2B | 665 |
| Q1 2024 | $40.1B | 668 |
| Q4 2023 | $35.0B | 677 |
| Q3 2023 | $30.9B | 681 |