Royal London Asset Management Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Royal London Asset Management Ltd. reported 631 stock positions worth $41.0 billion. Its top holding was Microsoft (MSFT) at 6.9% of the portfolio, followed by Apple (AAPL, 6.1%) and Nvidia (NVDA, 5.5%). Compared with Q3 2024, it opened 11 new positions, sold out of 14, added to 391 and reduced 163. The biggest buy was Amazon.com (AMZN, shares +0%) and the biggest sale Delta Air Lines (DAL, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- UNITED KINGDOM, X0
- CIK
- 0000863748
- Portfolio Value
- $41.0B (Q4 2024)
- SEC Filing
- 0001085146-25-000974 ↗ filed Feb 11, 2025
Holdings Value
Holdings 631 stocks · $41.0B
| MSFT Microsoft Corp. | 6.92% | 6,732,279 | $2.8B | Reduce -0.3% |
| AAPL Apple Inc. | 6.06% | 9,926,179 | $2.5B | Add +0.4% |
| NVDA Nvidia Corp. | 5.46% | 16,667,410 | $2.2B | Reduce -0.3% |
| AMZN Amazon.com Inc. | 4.66% | 8,716,051 | $1.9B | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 3.50% | 7,588,028 | $1.4B | Add +1.3% |
| AVGO Broadcom Inc. | 2.40% | 4,243,733 | $983.9M | Reduce -2.9% |
| V Visa Inc. Class A | 2.25% | 2,915,983 | $921.6M | Add +6.6% |
| META Meta Platforms Inc. Class A | 2.04% | 1,426,012 | $834.9M | Add +5.5% |
| UNH Unitedhealth Group Inc. | 1.61% | 1,305,563 | $660.4M | Reduce -1.2% |
| LLY Eli Lilly & Co. | 1.40% | 741,294 | $572.3M | Add +2.6% |
| TSLA Tesla Inc. | 1.30% | 1,323,720 | $534.6M | Add +1.5% |
| JPM JPMorgan Chase & Co. | 1.28% | 2,194,270 | $526.0M | Reduce -1.0% |
| TSM Taiwan Semiconductor-SP ADR | 1.22% | 2,534,357 | $500.5M | Reduce -5.7% |
| HCA HCA Healthcare Inc. | 1.10% | 1,500,786 | $450.5M | Add +62.0% |
| MELI MercadoLibre Inc. | 1.07% | 257,717 | $438.2M | Add +8.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.06% | 963,090 | $436.5M | Add +1.3% |
| TMO Thermo Fisher Scientific Inc. | 0.96% | 758,930 | $394.8M | Reduce -1.5% |
| GOOG Alphabet Inc. Class C | 0.95% | 2,056,116 | $391.6M | Add +0.6% |
| PGR Progressive Corp. | 0.93% | 1,595,870 | $382.4M | Reduce -5.0% |
| BKNG Booking Holdings Inc. | 0.85% | 70,471 | $350.1M | Add +16.4% |
| TXN Texas Instruments Inc. | 0.65% | 1,428,488 | $267.9M | Reduce -2.2% |
| PG The Procter & Gamble Co. | 0.63% | 1,545,519 | $259.1M | Reduce -0.3% |
| FERG Ferguson Enterprises Inc. | 0.62% | 1,471,611 | $255.4M | Add +3.5% |
| LIN Linde PLC | 0.62% | 605,224 | $253.4M | Add +13.1% |
| NFLX Netflix Inc. | 0.61% | 279,862 | $249.4M | Add +0.8% |
| ADBE Adobe Inc. | 0.60% | 556,281 | $247.4M | Reduce -2.9% |
| HD Home Depot Inc. | 0.60% | 630,519 | $245.3M | Add +1.3% |
| STLD Steel Dynamics Inc. | 0.58% | 2,100,017 | $239.5M | Reduce -21.1% |
| JNJ Johnson & Johnson | 0.57% | 1,626,812 | $235.3M | Add +0.0% |
| ABBV Abbvie Inc. | 0.57% | 1,305,222 | $231.9M | Reduce -4.8% |
| XOM Exxon Mobil Corp. | 0.56% | 2,148,024 | $231.1M | Add +1.9% |
| WAB Wabtec Corp. | 0.53% | 1,151,760 | $218.4M | Reduce -5.0% |
| MA Mastercard Inc. Class A | 0.52% | 404,177 | $212.8M | Reduce -0.3% |
| UBS UBS Group AG-Reg | 0.50% | 6,775,955 | $205.4M | Reduce -5.2% |
| COST Costco Wholesale Corp. | 0.48% | 214,674 | $196.7M | Add +2.1% |
| CNM Core & Main Inc. Class A | 0.47% | 3,810,739 | $194.0M | Add +1.3% |
| CRM Salesforce Inc. | 0.47% | 570,423 | $190.7M | Add +1.0% |
| CSCO Cisco Systems Inc. | 0.46% | 3,192,658 | $189.0M | Reduce -7.2% |
| TT Trane Technologies PLC | 0.46% | 510,503 | $188.6M | Reduce -1.0% |
| RS Reliance Inc. | 0.46% | 693,467 | $186.7M | Reduce -4.9% |
| THO Thor Industries Inc. | 0.45% | 1,912,066 | $183.0M | Reduce -12.1% |
| ISRG Intuitive Surgical Inc. | 0.44% | 346,451 | $180.8M | Reduce -0.6% |
| INTU Intuit Inc. | 0.44% | 287,571 | $180.7M | Add +0.4% |
| BRO Brown & Brown Inc. | 0.44% | 1,768,070 | $180.4M | Add +3.0% |
| WMT Walmart Inc. | 0.43% | 1,965,994 | $177.6M | Add +1.6% |
| PEP Pepsico Inc. | 0.42% | 1,139,835 | $173.3M | Add +3.6% |
| ADSK Autodesk Inc. | 0.42% | 583,985 | $172.6M | Add +22.9% |
| NOW ServiceNow Inc. | 0.41% | 160,225 | $169.9M | Add +1.5% |
| ODFL Old Dominion Freight Line | 0.38% | 885,632 | $156.2M | Reduce -11.9% |
| TSN Tyson Foods Inc. Class A | 0.37% | 2,640,794 | $151.7M | Reduce -5.8% |
| KNSL Kinsale Capital Group Inc. | 0.37% | 322,438 | $150.0M | Reduce -5.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.36% | 363,278 | $146.3M | Add +0.0% |
| AMAT Applied Materials Inc. | 0.35% | 891,447 | $145.0M | Reduce -2.2% |
| HDB HDFC Bank Ltd.-ADR | 0.34% | 2,173,712 | $138.8M | Reduce -4.3% |
| PM Philip Morris International | 0.33% | 1,136,567 | $136.8M | Reduce -2.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.33% | 3,065,535 | $134.7M | Add +0.2% |
| LAD Lithia Motors Inc. | 0.32% | 362,022 | $129.4M | Add +18.0% |
| GS Goldman Sachs Group Inc. | 0.31% | 223,048 | $127.7M | Add +1.0% |
| CVX Chevron Corp. | 0.31% | 867,609 | $125.7M | Add +2.7% |
| MRK Merck & Co. Inc. | 0.31% | 1,261,044 | $125.4M | Add +0.3% |
| CNI Canadian Natl Railway Co. | 0.30% | 1,201,886 | $122.0M | Reduce -23.5% |
| BLK BlackRock Inc. | 0.29% | 118,003 | $121.0M | Add +0.6% |
| SYK Stryker Corp. | 0.29% | 332,756 | $119.8M | Add +1.8% |
| KO The Coca-Cola Co. | 0.29% | 1,909,546 | $118.9M | Add +0.3% |
| SLVM Sylvamo Corp. | 0.28% | 1,469,790 | $116.1M | Reduce -10.8% |
| STE Steris PLC | 0.28% | 560,902 | $115.3M | Reduce -20.2% |
| CME Cme Group Inc. | 0.28% | 493,541 | $114.6M | Add +0.3% |
| ACN Accenture PLC Class A | 0.27% | 318,517 | $112.1M | Add +1.2% |
| TEL Te Connectivity PLC | 0.26% | 756,544 | $108.2M | Reduce -26.5% |
| WFC Wells Fargo & Co. | 0.26% | 1,539,724 | $108.2M | Add +0.4% |
| ADI Analog Devices Inc. | 0.26% | 494,013 | $105.0M | Add +94.6% |
| NDSN Nordson Corp. | 0.25% | 481,831 | $100.8M | Reduce -3.0% |
| UNP Union Pacific Corp. | 0.24% | 427,312 | $97.4M | Add +1.7% |
| FIX Comfort Systems USA Inc. | 0.23% | 227,259 | $96.4M | Reduce -11.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.23% | 139 | $94.6M | Add +2.2% |
| CAT Caterpillar Inc. | 0.23% | 256,111 | $92.9M | Add +0.3% |
| MCD McDonald's Corp. | 0.23% | 318,805 | $92.4M | Add +0.4% |
| PCAR Paccar Inc. | 0.22% | 873,087 | $90.8M | Reduce -4.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.22% | 797,512 | $88.8M | Add +1.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.22% | 403,350 | $88.7M | Add +0.8% |
| SCHW Schwab (charles) Corp. | 0.21% | 1,186,342 | $87.8M | Add +0.3% |
| BMY Bristol-Myers Squibb Co. | 0.21% | 1,548,483 | $87.6M | Reduce -0.0% |
| AMD Advanced Micro Devices | 0.21% | 723,828 | $87.4M | Add +1.8% |
| ABT Abbott Laboratories | 0.21% | 763,170 | $86.3M | Add +2.5% |
| T AT&T Inc. | 0.21% | 3,782,233 | $86.1M | Add +0.2% |
| ELV Elevance Health Inc. | 0.21% | 231,309 | $85.3M | Add +0.9% |
| TMUS T-Mobile US Inc. | 0.21% | 381,206 | $84.1M | Reduce -0.6% |
| CPRT Copart Inc. | 0.20% | 1,450,970 | $83.3M | Add +1.6% |
| SPGI S&P Global Inc. | 0.20% | 166,438 | $82.9M | Add +4.3% |
| SNPS Synopsys Inc. | 0.20% | 168,251 | $81.7M | Add +2.5% |
| CMCSA Comcast Corp. Class A | 0.20% | 2,165,713 | $81.3M | Add +0.7% |
| SFM Sprouts Farmers Market Inc. | 0.20% | 638,212 | $81.1M | Reduce -8.6% |
| GE General Electric filed as GE AEROSPACE | 0.19% | 475,017 | $79.2M | Reduce -0.4% |
| AME Ametek Inc. | 0.19% | 432,790 | $78.0M | Add +5.1% |
| ORCL Oracle Corp. | 0.19% | 466,528 | $77.7M | Reduce -32.3% |
| GM General Motors Co. | 0.19% | 1,453,993 | $77.5M | Add +0.0% |
| QCOM Qualcomm Inc. | 0.19% | 494,523 | $76.0M | Add +1.9% |
| VZ Verizon Communications Inc. | 0.18% | 1,897,699 | $75.9M | Add +2.2% |
| MS Morgan Stanley | 0.18% | 601,272 | $75.6M | Add +0.7% |
| DHR Danaher Corp. | 0.18% | 327,102 | $75.1M | Reduce -0.5% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $457K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 16,587 | $457K | No change |
Total filed on the 13F, all lines: $41.0B.
Portfolio Sells Q3 2024 → Q4 2024
| DAL Delta Air Lines Inc. | Reduce -98.8% | 0.01% | −0.60 |
| UNH Unitedhealth Group Inc. | Reduce -1.2% | 1.61% | −0.29 |
| DG Dollar General Corp. | Reduce -70.0% | 0.09% | −0.25 |
| STLD Steel Dynamics Inc. | Reduce -21.1% | 0.58% | −0.24 |
| MSFT Microsoft Corp. | Reduce -0.3% | 6.92% | −0.23 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.5% | 0.96% | −0.21 |
| IQV Iqvia Holdings Inc. | Reduce -81.6% | 0.04% | −0.21 |
| CNI Canadian Natl Railway Co. | Reduce -23.5% | 0.30% | −0.16 |
| THO Thor Industries Inc. | Reduce -12.1% | 0.45% | −0.14 |
| STE Steris PLC | Reduce -20.2% | 0.28% | −0.14 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.13 |
| ADBE Adobe Inc. | Reduce -2.9% | 0.60% | −0.13 |
| TEL Te Connectivity PLC | Reduce -26.5% | 0.26% | −0.12 |
| PGR Progressive Corp. | Reduce -5.0% | 0.93% | −0.12 |
| ODFL Old Dominion Freight Line | Reduce -11.9% | 0.38% | −0.11 |
| A Agilent Technologies Inc. | Reduce -54.2% | 0.07% | −0.11 |
| ABBV Abbvie Inc. | Reduce -4.8% | 0.57% | −0.10 |
| AMAT Applied Materials Inc. | Reduce -2.2% | 0.35% | −0.10 |
| ORCL Oracle Corp. | Reduce -32.3% | 0.19% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -2.2% | 0.65% | −0.09 |
| SU Suncor Energy Inc. | Reduce -26.9% | 0.18% | −0.08 |
| BX Blackstone Inc. | Reduce -57.0% | 0.07% | −0.08 |
| NDSN Nordson Corp. | Reduce -3.0% | 0.25% | −0.08 |
| SLVM Sylvamo Corp. | Reduce -10.8% | 0.28% | −0.07 |
| RS Reliance Inc. | Reduce -4.9% | 0.46% | −0.06 |
| CDW CDW Corp. | Reduce -13.5% | 0.10% | −0.05 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.05 |
| EXPD Expeditors Intl Wash Inc. | Reduce -18.9% | 0.09% | −0.04 |
| UBS UBS Group AG-Reg | Reduce -5.2% | 0.50% | −0.04 |
| DHR Danaher Corp. | Reduce -0.5% | 0.18% | −0.04 |
| TSN Tyson Foods Inc. Class A | Reduce -5.8% | 0.37% | −0.04 |
| MRNA Moderna Inc. | Reduce -52.7% | 0.02% | −0.04 |
| IDXX Idexx Laboratories Inc. | Reduce -14.5% | 0.09% | −0.04 |
| DUK Duke Energy Corp. | Reduce -31.9% | 0.07% | −0.04 |
| NIO Nio Inc. - ADR | Sold out | 0.00% | −0.04 |
| TT Trane Technologies PLC | Reduce -1.0% | 0.46% | −0.03 |
| GLW Corning Inc. | Sold out | 0.00% | −0.03 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.03 |
| JLL Jones Lang Lasalle Inc. | Reduce -21.8% | 0.08% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.3% | 0.63% | −0.03 |
| GE General Electric | Reduce -0.4% | 0.19% | −0.03 |
| YUMC Yum China Holdings Inc. | Reduce -43.8% | 0.04% | −0.03 |
| KNSL Kinsale Capital Group Inc. | Reduce -5.8% | 0.37% | −0.03 |
| BEKE Ke Holdings Inc.-ADR | Reduce -44.7% | 0.03% | −0.03 |
| CI The Cigna Group | Reduce -1.4% | 0.08% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -0.1% | 0.10% | −0.02 |
| NOC Northrop Grumman Corp. | Reduce -2.5% | 0.13% | −0.02 |
| GILD Gilead Sciences Inc. | Reduce -19.4% | 0.16% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.2% | 0.12% | −0.02 |
| ANSS Ansys Inc. | Reduce -37.1% | 0.04% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| AMZN Amazon.com Inc. | Add +0.3% | 4.66% | +0.68 |
| TSLA Tesla Inc. | Add +1.5% | 1.30% | +0.46 |
| GOOGL Alphabet Inc. Class A | Add +1.3% | 3.50% | +0.44 |
| V Visa Inc. Class A | Add +6.6% | 2.25% | +0.40 |
| AAPL Apple Inc. | Add +0.4% | 6.06% | +0.39 |
| BKNG Booking Holdings Inc. | Add +16.4% | 0.85% | +0.23 |
| HCA HCA Healthcare Inc. | Add +62.0% | 1.10% | +0.17 |
| PDD PDD Holdings Inc. | Add +82362.9% | 0.15% | +0.15 |
| META Meta Platforms Inc. Class A | Add +5.5% | 2.04% | +0.13 |
| NFLX Netflix Inc. | Add +0.8% | 0.61% | +0.12 |
| GOOG Alphabet Inc. Class C | Add +0.6% | 0.95% | +0.11 |
| ADI Analog Devices Inc. | Add +94.6% | 0.26% | +0.11 |
| FTNT Fortinet Inc. | Add +104.5% | 0.18% | +0.11 |
| ADSK Autodesk Inc. | Add +22.9% | 0.42% | +0.10 |
| CRM Salesforce Inc. | Add +1.0% | 0.47% | +0.08 |
| PLTR Palantir Technologies Inc. Class A | Add +1.3% | 0.16% | +0.08 |
| LAD Lithia Motors Inc. | Add +18.0% | 0.32% | +0.08 |
| NOW ServiceNow Inc. | Add +1.5% | 0.41% | +0.07 |
| CNM Core & Main Inc. Class A | Add +1.3% | 0.47% | +0.06 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +202.0% | 0.10% | +0.06 |
| APP AppLovin Corp. Class A | Add +10.1% | 0.09% | +0.05 |
| WFC Wells Fargo & Co. | Add +0.4% | 0.26% | +0.05 |
| SHOP Shopify Inc. Class A | Add +32.6% | 0.11% | +0.05 |
| WMT Walmart Inc. | Add +1.6% | 0.43% | +0.05 |
| GEV GE Vernova Inc. | Add +40.9% | 0.10% | +0.05 |
| GS Goldman Sachs Group Inc. | Add +1.0% | 0.31% | +0.04 |
| MRVL Marvell Technology Inc. | Add +1.4% | 0.11% | +0.04 |
| NXPI NXP Semiconductors NV | Add +88.9% | 0.10% | +0.04 |
| BA The Boeing Co. | Add +21.9% | 0.12% | +0.04 |
| MS Morgan Stanley | Add +0.7% | 0.18% | +0.03 |
| APO Apollo Global Management Inc. | Add +1.6% | 0.12% | +0.03 |
| KMI Kinder Morgan Inc. | Add +2.0% | 0.15% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +21.7% | 0.09% | +0.03 |
| DIS The Walt Disney Co. | Add +1.1% | 0.22% | +0.03 |
| BAC Bank of America Corp. | Add +0.2% | 0.33% | +0.03 |
| GM General Motors Co. | Add +0.0% | 0.19% | +0.03 |
| VST Vistra Corp. | Add +85.2% | 0.05% | +0.03 |
| DECK Deckers Outdoor Corp. | Add +60.1% | 0.05% | +0.03 |
| SCHW Schwab (charles) Corp. | Add +0.3% | 0.21% | +0.03 |
| AU Anglogold Ashanti PLC | New | 0.03% | +0.03 |
| MSTR Strategy Inc. | Add +15.6% | 0.05% | +0.02 |
| AGCO Agco Corp. | Add +21.6% | 0.17% | +0.02 |
| COST Costco Wholesale Corp. | Add +2.1% | 0.48% | +0.02 |
| BLK BlackRock Inc. | Add +0.6% | 0.29% | +0.02 |
| ED Consolidated Edison Inc. | Add +82.9% | 0.06% | +0.02 |
| CPRT Copart Inc. | Add +1.6% | 0.20% | +0.02 |
| LULU Lululemon Athletica Inc. | Add +2.7% | 0.06% | +0.02 |
| TME Tencent Music Entertainm-ADR | New | 0.02% | +0.02 |
| KKR KKR & Co. Inc. | Add +6.2% | 0.10% | +0.02 |
| C Citigroup Inc. | Add +1.9% | 0.14% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 678 | $54.3B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q1 2026 | 688 | $47.7B | NVDA, AAPL, MSFT, AZN, GOOGL |
| Q4 2025 | 702 | $47.5B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q3 2025 | 688 | $46.5B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q2 2025 | 715 | $43.8B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2025 | 743 | $42.2B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q4 2024 | 631 | $41.0B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q3 2024 | 634 | $40.6B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q2 2024 | 665 | $39.2B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 667 | $40.1B | MSFT, AAPL, NVDA, AMZN, GOOGL |