ROYAL LONDON ASSET MANAGEMENT LTD

UNITED KINGDOM, X0 · CIK 863748 · 13F filing filed 2026-08-13

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$54.3bn reported value +13.8% vs Q1 2026

678positions

35.8%in top 10

18 new 183 added 424 reduced 28 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	17,986,795	$3.6bn6.63%	6.63%	Added +51.8k	+51,814 0.3%
2	APPLE INC COM AAPL	AAPL	10,335,156	$3.0bn5.51%	5.51%	Added +355.9k	+355,942 3.6%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	7,081,882	$2.5bn4.66%	4.66%	Added +67.9k	+67,949 1.0%
4	MICROSOFT CORP COM MSFT	MSFT	5,802,929	$2.2bn3.99%	3.99%	Added +117.1k	+117,089 2.1%
5	AMAZON COM INC COM AMZN	AMZN	8,904,735	$2.1bn3.91%	3.91%	Added +68.5k	+68,469 0.8%
6	ASTRAZENECA PLC ORD AZN	AZN	10,161,026	$1.9bn3.55%	3.55%	Reduced -138.5k	-138,537 -1.4%
7	BROADCOM INC COM AVGO	AVGO	3,763,485	$1.4bn2.62%	2.62%	Reduced -300.0k	-299,988 -7.4%
8	MICRON TECHNOLOGY INC COM MU	MU	895,924	$1.0bn1.91%	1.91%	Reduced -79.4k	-79,391 -8.1%
9	VISA INC COM CL A V	V	2,550,065	$874.9m1.61%	1.61%	Added +310.9k	+310,906 13.9%
10	ELI LILLY & CO COM LLY	LLY	645,864	$774.7m1.43%	1.43%	Reduced -10.7k	-10,721 -1.6%
11	META PLATFORMS INC CL A META	META	1,322,699	$745.1m1.37%	1.37%	Reduced -15.3k	-15,289 -1.1%
12	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,521,260	$726.5m1.34%	1.34%	Reduced -71.4k	-71,378 -4.5%
13	JPMORGAN CHASE & CO COM JPM	JPM	2,189,863	$716.8m1.32%	1.32%	Reduced -30.0k	-30,026 -1.4%
14	ALPHABET INC CAP STK CL C GOOG	GOOG	2,007,007	$709.1m1.31%	1.31%	Reduced -28.3k	-28,270 -1.4%
15	TESLA INC COM TSLA	TSLA	1,576,565	$663.1m1.22%	1.22%	Added +13.4k	+13,399 0.9%
16	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,020,521	$592.8m1.09%	1.09%	Reduced -12.1k	-12,084 -1.2%
17	INTEL CORP COM INTC	INTC	4,166,552	$581.8m1.07%	1.07%	Reduced -432.0k	-431,955 -9.4%
18	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	943,362	$472.0m0.87%	0.87%	Reduced -11.2k	-11,243 -1.2%
19	CISCO SYS INC COM CSCO	CSCO	3,297,324	$387.3m0.71%	0.71%	Added +159.8k	+159,777 5.1%
20	MERCK & CO INC COM MRK	MRK	2,987,037	$383.8m0.71%	0.71%	Added +90.9k	+90,883 3.1%
21	MERCADOLIBRE INC COM MELI	MELI	209,028	$354.8m0.65%	0.65%	Reduced -11.6k	-11,626 -5.3%
22	ABBVIE INC COM ABBV	ABBV	1,342,483	$337.8m0.62%	0.62%	Reduced -9.2k	-9,234 -0.7%
23	APPLIED MATLS INC COM AMAT	AMAT	460,003	$332.6m0.61%	0.61%	Reduced -18.9k	-18,930 -4.0%
24	TEXAS INSTRS INC COM TXN	TXN	1,089,192	$324.7m0.60%	0.60%	Added +122.2k	+122,205 12.6%
25	UNITEDHEALTH GROUP INC COM UNH	UNH	745,305	$309.8m0.57%	0.57%	Reduced -10.3k	-10,284 -1.4%
26	LINDE PLC SHS LIN	LIN	587,555	$304.9m0.56%	0.56%	Added +28.2k	+28,182 5.0%
27	JOHNSON & JOHNSON COM JNJ	JNJ	1,189,474	$302.1m0.56%	0.56%	Reduced -13.2k	-13,216 -1.1%
28	EXXON MOBIL CORP COM XOM	XOM	2,206,288	$301.6m0.56%	0.56%	Reduced -31.7k	-31,734 -1.4%
29	LAM RESEARCH CORP COM NEW LRCX	LRCX	661,673	$286.7m0.53%	0.53%	Reduced -12.2k	-12,223 -1.8%
30	HOME DEPOT INC COM HD	HD	810,136	$285.7m0.53%	0.53%	Added +4.2k	+4,190 0.5%
31	COMFORT SYS USA INC COM FIX	FIX	141,047	$279.5m0.52%	0.52%	Added +2.8k	+2,791 2.0%
32	CORE & MAIN INC CL A CNM	CNM	5,488,673	$264.8m0.49%	0.49%	Reduced -264.0k	-264,028 -4.6%
33	CATERPILLAR INC COM CAT	CAT	243,317	$259.1m0.48%	0.48%	Reduced -5.6k	-5,600 -2.2%
34	WABTEC COM WAB	WAB	960,916	$259.1m0.48%	0.48%	Reduced -31.5k	-31,533 -3.2%
35	GOLDMAN SACHS GROUP INC COM GS	GS	249,777	$252.6m0.47%	0.47%	Reduced -4.9k	-4,904 -1.9%
36	TOTALENERGIES SE ACT TTE	TTE	3,234,658	$251.5m0.46%	0.46%	Added +1.1m	+1,093,705 51.1%
37	PROCTER AND GAMBLE CO COM PG	PG	1,713,412	$251.3m0.46%	0.46%	Added +36.2k	+36,195 2.2%
38	STEEL DYNAMICS INC COM STLD	STLD	1,082,794	$248.5m0.46%	0.46%	Reduced -16.6k	-16,581 -1.5%
39	ROYALTY PHARMA PLC SHS CLASS A RPRX	RPRX	4,319,595	$242.2m0.45%	0.45%	Added +511.2k	+511,242 13.4%
40	CHUBB LIMITED COM CB	CB	705,898	$240.5m0.44%	0.44%	Added +171.0k	+171,040 32.0%
41	WALMART INC COM WMT	WMT	2,123,512	$240.5m0.44%	0.44%	Reduced -14.3k	-14,306 -0.7%
42	HCA HEALTHCARE INC COM HCA	HCA	604,401	$235.6m0.43%	0.43%	Added +27.3k	+27,282 4.7%
43	PHILIP MORRIS INTL INC COM PM	PM	1,213,109	$219.5m0.40%	0.40%	Reduced -1.8k	-1,816 -0.1%
44	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	919,100	$218.1m0.40%	0.40%	Added +220.2k	+220,168 31.5%
45	VERTIV HOLDINGS CO COM CL A VRT	VRT	651,474	$218.1m0.40%	0.40%	Reduced -110.2k	-110,194 -14.5%
46	COSTCO WHSL CORP NEW COM COST	COST	232,968	$217.9m0.40%	0.40%	Reduced -2.0k	-2,029 -0.9%
47	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	433,314	$217.2m0.40%	0.40%	Reduced -75.2k	-75,224 -14.8%
48	KLA CORP COM NEW KLAC	KLAC	717,115	$216.4m0.40%	0.40%	Reduced -15.5k	-15,505 -2.1%
49	NEXTRACKER INC CLASS A COM NXT	NXT	1,796,811	$214.1m0.39%	0.39%	Added +238.3k	+238,300 15.3%
50	ANALOG DEVICES INC COM ADI	ADI	521,402	$207.1m0.38%	0.38%	Reduced -16.8k	-16,780 -3.1%
51	NETFLIX INC COM NFLX	NFLX	2,809,691	$200.6m0.37%	0.37%	Reduced -83.5k	-83,462 -2.9%
52	HUBBELL INC COM HUBB	HUBB	380,948	$199.3m0.37%	0.37%	Added +78.4k	+78,357 25.9%
53	MASTERCARD INCORPORATED CL A MA	MA	386,414	$198.5m0.37%	0.37%	Reduced -33.4k	-33,449 -8.0%
54	QUALCOMM INC COM QCOM	QCOM	1,073,880	$198.4m0.37%	0.37%	Reduced -41.4k	-41,431 -3.7%
55	GE VERNOVA INC COM GEV	GEV	167,148	$196.4m0.36%	0.36%	Reduced -6.9k	-6,944 -4.0%
56	GE AEROSPACE COM NEW GE	GE	514,379	$192.2m0.35%	0.35%	Reduced -5.1k	-5,058 -1.0%
57	DANAHER CORPORATION COM DHR	DHR	1,007,284	$191.9m0.35%	0.35%	Added +682.0k	+681,996 209.7%
58	PEPSICO INC COM PEP	PEP	1,388,736	$188.0m0.35%	0.35%	Reduced -5.2k	-5,151 -0.4%
59	BANK AMERICA CORP COM BAC	BAC	3,184,637	$181.5m0.33%	0.33%	Reduced -45.0k	-45,027 -1.4%
60	FERRARI N V COM RACE	RACE	477,736	$177.9m0.33%	0.33%	Added +104.8k	+104,818 28.1%
61	UBS GROUP AG SHS UBS	UBS	3,468,512	$171.9m0.32%	0.32%	Reduced -47.4k	-47,366 -1.4%
62	CHEVRON CORP NEW COM CVX	CVX	992,042	$164.4m0.30%	0.30%	Reduced -13.5k	-13,541 -1.4%
63	ORACLE CORP COM ORCL	ORCL	1,097,932	$160.9m0.30%	0.30%	Reduced -8.9k	-8,873 -0.8%
64	COCA COLA CO COM KO	KO	1,974,839	$160.5m0.30%	0.30%	Reduced -45.3k	-45,319 -2.2%
65	CME GROUP INC COM CME	CME	716,972	$158.3m0.29%	0.29%	Added +167.1k	+167,126 30.4%
66	UNION PAC CORP COM UNP	UNP	579,158	$157.5m0.29%	0.29%	Added +90.4k	+90,368 18.5%
67	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	394,516	$156.9m0.29%	0.29%	Reduced -26.3k	-26,320 -6.2%
68	CIENA CORP COM NEW CIEN	CIEN	318,654	$156.3m0.29%	0.29%	Added +183.8k	+183,825 136.3%
69	PROGRESSIVE CORP COM PGR	PGR	702,739	$153.5m0.28%	0.28%	Reduced -77.0k	-76,982 -9.9%
70	KINDER MORGAN INC DEL COM KMI	KMI	4,739,835	$151.5m0.28%	0.28%	Reduced -630.6k	-630,558 -11.7%
71	API GROUP CORP COM STK APG	APG	3,570,979	$151.2m0.28%	0.28%	Added +499.1k	+499,055 16.2%
72	BERKLEY W R CORP COM WRB	WRB	2,115,249	$149.2m0.27%	0.27%	Reduced -169.3k	-169,334 -7.4%
73	BOOKING HOLDINGS INC COM BKNG	BKNG	817,543	$145.7m0.27%	0.27%	Reduced -17.9m	-17,937,457 -95.6%
74	MOODYS CORP COM MCO	MCO	319,889	$144.9m0.27%	0.27%	Added +234.6k	+234,640 275.2%
75	HALOZYME THERAPEUTICS INC COM HALO	HALO	1,810,815	$141.7m0.26%	0.26%	Added +200.3k	+200,262 12.4%
76	UNITED RENTALS INC COM URI	URI	121,462	$137.6m0.25%	0.25%	Reduced -887	-887 -0.7%
77	LOCKHEED MARTIN CORP COM LMT	LMT	263,615	$134.3m0.25%	0.25%	Added +69.9k	+69,900 36.1%
78	PALO ALTO NETWORKS INC COM PANW	PANW	388,809	$132.6m0.24%	0.24%	Added +6.5k	+6,478 1.7%
79	MORGAN STANLEY COM NEW MS	MS	631,430	$132.0m0.24%	0.24%	Reduced -21.5k	-21,479 -3.3%
80	SYNOPSYS INC COM SNPS	SNPS	294,428	$131.3m0.24%	0.24%	Reduced -4.6k	-4,587 -1.5%
81	MARVELL TECHNOLOGY INC COM MRVL	MRVL	435,902	$129.9m0.24%	0.24%	Reduced -8.2k	-8,197 -1.9%
82	FORTINET INC COM FTNT	FTNT	841,090	$129.2m0.24%	0.24%	Reduced -281.6k	-281,589 -25.1%
83	WESTERN DIGITAL CORP COM WDC	WDC	199,352	$127.3m0.23%	0.23%	Reduced -20.1k	-20,106 -9.2%
84	SANDISK CORP COM SNDK	SNDK	55,769	$126.8m0.23%	0.23%	Added +457	+457 0.8%
85	AMETEK INC COM AME	AME	524,049	$126.8m0.23%	0.23%	Reduced -4.4k	-4,354 -0.8%
86	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	1,070,132	$124.9m0.23%	0.23%	Reduced -8.6k	-8,633 -0.8%
87	APPLOVIN CORP COM CL A APP	APP	241,152	$124.2m0.23%	0.23%	Added +6.0k	+6,013 2.6%
88	WELLS FARGO CO NEW COM WFC	WFC	1,502,670	$124.2m0.23%	0.23%	Reduced -28.0k	-27,990 -1.8%
89	PARKER-HANNIFIN CORP COM PH	PH	125,644	$122.9m0.23%	0.23%	Reduced -2.5k	-2,483 -1.9%
90	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	436,289	$122.7m0.23%	0.23%	Reduced -3.7k	-3,729 -0.8%
91	SCHWAB CHARLES CORP COM SCHW	SCHW	1,311,331	$121.0m0.22%	0.22%	Reduced -22.6k	-22,570 -1.7%
92	CITIGROUP INC COM NEW C	C	857,832	$120.1m0.22%	0.22%	Reduced -6.0k	-6,023 -0.7%
93	AMPHENOL CORP CL A APH	APH	679,885	$119.9m0.22%	0.22%	Reduced -8.9k	-8,906 -1.3%
94	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	241,280	$119.9m0.22%	0.22%	Reduced -10.9k	-10,912 -4.3%
95	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	20,552,459	$118.8m0.22%	0.22%	Added +7.3m	+7,269,799 54.7%
96	RTX CORPORATION COM RTX	RTX	625,346	$118.6m0.22%	0.22%	Reduced -3.3k	-3,336 -0.5%
97	BLACKROCK INC COM BLK	BLK	123,076	$118.3m0.22%	0.22%	Reduced -1.1k	-1,097 -0.9%
98	AGCO CORP COM AGCO	AGCO	988,533	$118.3m0.22%	0.22%	Reduced -205.5k	-205,475 -17.2%
99	S&P GLOBAL INC COM SPGI	SPGI	304,801	$117.4m0.22%	0.22%	Added +54.2k	+54,203 21.6%
100	WHEATON PRECIOUS METALS CORP COM WPM	WPM	1,040,429	$116.9m0.22%	0.22%	Added +413.9k	+413,859 66.0%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
COTERRA ENERGY INC CTRA	CTRA	1,924,481	$67.6m1.9m shares
HONEYWELL INTL INC		142,766	$64.5m142.8k shares
WILLSCOT HLDGS CORP WSC	WSC	2,467,235	$42.8m2.5m shares
INSTALLED BLDG PRODS INC IBP	IBP	143,207	$38.0m143.2k shares
BJS WHSL CLUB HLDGS INC BJ	BJ	246,248	$24.4m246.2k shares
CARNIVAL CORP		820,149	$21.2m820.1k shares
HOLOGIC INC HOLX	HOLX	121,861	$9.2m121.9k shares
DUPONT DE NEMOURS INC DWDP	DWDP	46,582	$6.4m46.6k shares
SOLSTICE ADVANCED MATLS INC SOLS	SOLS	62,874	$4.8m62.9k shares
MOLINA HEALTHCARE INC MOH	MOH	26,191	$3.5m26.2k shares
VERSANT MEDIA GROUP INC VSNT	VSNT	79,163	$2.9m79.2k shares
PAYCOM SOFTWARE INC PAYC	PAYC	20,896	$2.6m20.9k shares
AUTOHOME INC ATHM	ATHM	68,500	$1.2m68.5k shares
QIFU TECHNOLOGY INC QFIN	QFIN	61,600	$795.3k61.6k shares
AMERICAN FINL GROUP INC OHIO AFG	AFG	6,023	$768.5k6.0k shares
THOMSON REUTERS CORP		8,037	$723.2k8.0k shares
POOL CORP POOL	POOL	3,163	$643.9k3.2k shares
AECOM ACM	ACM	6,821	$578.6k6.8k shares
DRAFTKINGS INC NEW DKNG	DKNG	15,632	$338.0k15.6k shares
ZEBRA TECHNOLOGIES CORPORATI ZBRA	ZBRA	1,482	$309.9k1.5k shares
BUILDERS FIRSTSOURCE INC BLDR	BLDR	3,095	$254.8k3.1k shares
UNIVERSAL HLTH SVCS INC UHS	UHS	1,371	$245.4k1.4k shares
OPEN TEXT CORP OTEX	OTEX	10,806	$240.3k10.8k shares
UDR INC UDR	UDR	6,679	$225.6k6.7k shares
OKLO INC OKLO	OKLO	4,044	$200.5k4.0k shares