Royal London Asset Management Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Royal London Asset Management Ltd. reported 702 stock positions worth $47.5 billion. Its top holding was Nvidia (NVDA) at 6.9% of the portfolio, followed by Microsoft (MSFT, 6.1%) and Apple (AAPL, 5.7%). Compared with Q3 2025, it opened 18 new positions, sold out of 6, added to 268 and reduced 367. The biggest buy was a new position in Totalenergies (TTE) and the biggest sale Microsoft (MSFT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- UNITED KINGDOM, X0
- CIK
- 0000863748
- Portfolio Value
- $47.5B (Q4 2025)
- SEC Filing
- 0000863748-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 702 stocks · $47.5B
| NVDA Nvidia Corp. | 6.92% | 17,638,044 | $3.3B | Add +3.7% |
| MSFT Microsoft Corp. | 6.06% | 5,959,212 | $2.9B | Reduce -3.0% |
| AAPL Apple Inc. | 5.68% | 9,934,207 | $2.7B | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 4.63% | 7,026,845 | $2.2B | Reduce -6.4% |
| AMZN Amazon.com Inc. | 4.15% | 8,539,436 | $2.0B | Reduce -4.4% |
| AVGO Broadcom Inc. | 2.84% | 3,901,933 | $1.4B | Reduce -8.4% |
| META Meta Platforms Inc. Class A | 1.85% | 1,330,116 | $878.0M | Add +0.2% |
| V Visa Inc. Class A | 1.74% | 2,359,072 | $827.4M | Reduce -4.1% |
| LLY Eli Lilly & Co. | 1.67% | 739,834 | $795.1M | Reduce -0.7% |
| JPM JPMorgan Chase & Co. | 1.51% | 2,228,116 | $717.9M | Reduce -1.9% |
| TSLA Tesla Inc. | 1.45% | 1,527,328 | $686.9M | Add +0.7% |
| GOOG Alphabet Inc. Class C | 1.32% | 1,994,263 | $625.8M | Reduce -0.2% |
| TSM Taiwan Semiconductor-SP ADR | 1.22% | 1,901,587 | $577.9M | Add +0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.00% | 940,993 | $473.0M | Add +0.6% |
| MELI MercadoLibre Inc. | 0.96% | 227,467 | $458.2M | Reduce -1.3% |
| HCA HCA Healthcare Inc. | 0.72% | 728,575 | $340.1M | Reduce -33.6% |
| MRK Merck & Co. Inc. | 0.71% | 3,197,151 | $336.5M | Reduce -0.1% |
| MU Micron Technology Inc. | 0.67% | 1,119,802 | $319.6M | Reduce -1.5% |
| TMO Thermo Fisher Scientific Inc. | 0.66% | 540,925 | $313.4M | Reduce -6.9% |
| ABBV Abbvie Inc. | 0.63% | 1,314,868 | $300.4M | Add +0.7% |
| CNM Core & Main Inc. Class A | 0.62% | 5,688,595 | $295.6M | Add +12.5% |
| HD Home Depot Inc. | 0.58% | 798,289 | $274.7M | Add +1.4% |
| XOM Exxon Mobil Corp. | 0.57% | 2,250,678 | $270.8M | Reduce -1.2% |
| NFLX Netflix Inc. | 0.57% | 2,869,405 | $269.0M | No change |
| LIN Linde PLC | 0.55% | 607,811 | $259.2M | Reduce -10.1% |
| STLD Steel Dynamics Inc. | 0.54% | 1,526,106 | $258.6M | Reduce -23.7% |
| UNH Unitedhealth Group Inc. | 0.52% | 750,245 | $247.7M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.52% | 3,182,568 | $245.2M | Reduce -0.3% |
| WAB Wabtec Corp. | 0.51% | 1,140,215 | $243.4M | Reduce -2.4% |
| PGR Progressive Corp. | 0.50% | 1,111,635 | $238.1M | Reduce -1.1% |
| MA Mastercard Inc. Class A | 0.50% | 416,234 | $237.6M | Reduce -0.6% |
| JNJ Johnson & Johnson | 0.50% | 1,141,270 | $236.2M | Add +3.1% |
| WMT Walmart Inc. | 0.49% | 2,108,698 | $234.9M | Reduce -0.7% |
| PG The Procter & Gamble Co. | 0.48% | 1,584,236 | $227.0M | Add +1.1% |
| ISRG Intuitive Surgical Inc. | 0.48% | 399,890 | $226.5M | Add +14.1% |
| BKNG Booking Holdings Inc. | 0.47% | 42,048 | $225.2M | Reduce -0.7% |
| INTU Intuit Inc. | 0.47% | 338,021 | $223.9M | Reduce -1.2% |
| GS Goldman Sachs Group Inc. | 0.47% | 254,606 | $223.8M | Add +0.0% |
| ORCL Oracle Corp. | 0.45% | 1,091,686 | $212.8M | Add +1.2% |
| COST Costco Wholesale Corp. | 0.41% | 228,360 | $196.9M | Reduce -0.8% |
| PEP Pepsico Inc. | 0.41% | 1,369,215 | $196.5M | Add +0.8% |
| PLTR Palantir Technologies Inc. Class A | 0.41% | 1,104,722 | $196.4M | Add +4.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.41% | 2,790,374 | $195.7M | Add +1.0% |
| BLD Topbuild Corp. | 0.41% | 466,677 | $194.7M | Add +21.0% |
| PM Philip Morris International | 0.41% | 1,207,282 | $193.6M | Add +2.3% |
| TXN Texas Instruments Inc. | 0.40% | 1,099,404 | $190.7M | Reduce -1.1% |
| FIX Comfort Systems USA Inc. | 0.38% | 194,800 | $181.8M | Reduce -19.0% |
| QCOM Qualcomm Inc. | 0.38% | 1,048,625 | $179.4M | Add +105.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 3,236,548 | $178.0M | Reduce -1.6% |
| HDB HDFC Bank Ltd.-ADR | 0.36% | 4,709,766 | $172.1M | Reduce -2.2% |
| INTC Intel Corp. | 0.36% | 4,586,209 | $169.2M | Add +38.0% |
| AMD Advanced Micro Devices | 0.35% | 775,431 | $166.1M | Add +1.9% |
| UBS UBS Group AG-Reg | 0.34% | 3,534,187 | $163.7M | Reduce -1.4% |
| ADSK Autodesk Inc. | 0.33% | 531,978 | $157.5M | Reduce -6.4% |
| FERG Ferguson Enterprises Inc. | 0.33% | 704,340 | $156.8M | Reduce -13.1% |
| GE General Electric filed as GE AEROSPACE | 0.33% | 502,772 | $154.9M | Reduce -0.5% |
| SNPS Synopsys Inc. | 0.33% | 329,357 | $154.7M | Reduce -9.3% |
| CVX Chevron Corp. | 0.32% | 1,011,367 | $154.1M | Reduce -1.1% |
| CME Cme Group Inc. | 0.32% | 548,735 | $149.8M | Add +2.1% |
| KMI Kinder Morgan Inc. | 0.31% | 5,415,176 | $148.9M | Add +94.1% |
| VRT Vertiv Holdings Co. Class A | 0.31% | 911,626 | $147.7M | Add +2.2% |
| ADI Analog Devices Inc. | 0.31% | 541,423 | $146.8M | Reduce -1.3% |
| CAT Caterpillar Inc. | 0.30% | 252,109 | $144.4M | Reduce -0.7% |
| WFC Wells Fargo & Co. | 0.30% | 1,540,269 | $143.6M | Reduce -1.9% |
| AGCO Agco Corp. | 0.29% | 1,343,230 | $140.1M | Reduce -3.5% |
| TTE Totalenergies SE | 0.29% | 2,133,432 | $139.6M | New |
| KO The Coca-Cola Co. | 0.29% | 1,992,206 | $139.3M | Reduce -1.0% |
| AMAT Applied Materials Inc. | 0.29% | 539,866 | $138.7M | Reduce -0.3% |
| SCHW Schwab (charles) Corp. | 0.28% | 1,332,537 | $133.1M | Add +0.9% |
| BLK BlackRock Inc. | 0.28% | 123,026 | $131.7M | Add +0.6% |
| NOW ServiceNow Inc. | 0.27% | 848,587 | $130.0M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.27% | 438,306 | $129.8M | Reduce -1.1% |
| STE Steris PLC | 0.27% | 502,704 | $127.4M | Reduce -0.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.26% | 273,433 | $124.0M | Reduce -1.4% |
| RACE Ferrari NV | 0.26% | 332,495 | $122.9M | Add +645.7% |
| SYK Stryker Corp. | 0.25% | 341,368 | $120.0M | Add +0.0% |
| GM General Motors Co. | 0.25% | 1,453,007 | $118.2M | Add +0.4% |
| LRCX Lam Research Corp. | 0.25% | 688,385 | $117.8M | Reduce -1.5% |
| AEM Agnico Eagle Mines Ltd. | 0.25% | 689,171 | $116.8M | Add +3.3% |
| MS Morgan Stanley | 0.25% | 656,132 | $116.5M | Add +1.2% |
| UNP Union Pacific Corp. | 0.24% | 500,634 | $115.8M | Add +12.6% |
| GEV GE Vernova Inc. | 0.24% | 175,369 | $114.6M | Reduce -1.1% |
| CRM Salesforce Inc. | 0.24% | 430,308 | $114.0M | Reduce -0.5% |
| RTX RTX Corp. | 0.24% | 610,695 | $112.0M | Reduce -0.1% |
| AME Ametek Inc. | 0.23% | 538,103 | $110.5M | Add +4.2% |
| C Citigroup Inc. | 0.22% | 876,387 | $102.3M | Reduce -1.5% |
| URI United Rentals Inc. | 0.21% | 125,375 | $101.5M | Reduce -2.2% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.21% | 253,072 | $100.6M | Reduce -1.6% |
| MCD McDonald's Corp. | 0.21% | 328,481 | $100.4M | Reduce -0.0% |
| APG Api Group Corp. | 0.21% | 2,613,877 | $100.0M | Add +367.3% |
| PCAR Paccar Inc. | 0.21% | 912,871 | $100.0M | Reduce -1.3% |
| ABT Abbott Laboratories | 0.21% | 794,924 | $99.6M | Reduce -0.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.21% | 869,935 | $99.0M | Add +1.5% |
| PLD Prologis Inc. | 0.21% | 773,287 | $98.7M | Add +0.6% |
| ELS Equity Lifestyle Properties | 0.21% | 1,621,879 | $98.3M | Add +6.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.20% | 129 | $97.4M | Reduce -0.8% |
| CRH CRH PLC | 0.20% | 777,754 | $97.1M | Add +12.1% |
| PH Parker Hannifin Corp. | 0.20% | 109,151 | $95.9M | Reduce -1.1% |
| REXR Rexford Industrial Realty Inc. | 0.20% | 2,472,103 | $95.7M | Reduce -2.5% |
| TAP Molson Coors Beverage Co. Class B | 0.20% | 2,040,545 | $95.3M | Add +6.9% |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -3.0% | 6.06% | −0.77 |
| HCA HCA Healthcare Inc. | Reduce -33.6% | 0.72% | −0.29 |
| MELI MercadoLibre Inc. | Reduce -1.3% | 0.96% | −0.19 |
| AVGO Broadcom Inc. | Reduce -8.4% | 2.84% | −0.18 |
| LIN Linde PLC | Reduce -10.1% | 0.55% | −0.14 |
| BRO Brown & Brown Inc. | Reduce -46.3% | 0.12% | −0.14 |
| PGR Progressive Corp. | Reduce -1.1% | 0.50% | −0.10 |
| RS Reliance Inc. | Reduce -58.6% | 0.05% | −0.08 |
| ADBE Adobe Inc. | Reduce -25.8% | 0.18% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -4.4% | 4.15% | −0.07 |
| V Visa Inc. Class A | Reduce -4.1% | 1.74% | −0.06 |
| FERG Ferguson Enterprises Inc. | Reduce -13.1% | 0.33% | −0.06 |
| SNPS Synopsys Inc. | Reduce -9.3% | 0.33% | −0.06 |
| ADSK Autodesk Inc. | Reduce -6.4% | 0.33% | −0.06 |
| SLM SLM Corp. | Reduce -20.8% | 0.17% | −0.06 |
| STLD Steel Dynamics Inc. | Reduce -23.7% | 0.54% | −0.06 |
| URI United Rentals Inc. | Reduce -2.2% | 0.21% | −0.05 |
| AIT Applied Industrial Tech Inc. | Reduce -17.5% | 0.19% | −0.05 |
| NXPI NXP Semiconductors NV | Reduce -43.8% | 0.05% | −0.05 |
| FIX Comfort Systems USA Inc. | Reduce -19.0% | 0.38% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -0.8% | 0.41% | −0.04 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -1.6% | 0.21% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -0.8% | 0.17% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -0.8% | 0.52% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -1.1% | 0.40% | −0.04 |
| RBLX Roblox Corp. Class A | Reduce -0.7% | 0.05% | −0.04 |
| FISV Fiserv Inc. | Reduce -2.7% | 0.04% | −0.04 |
| HOOD Robinhood Markets Inc. Class A | Reduce -3.4% | 0.10% | −0.03 |
| HOLX Hologic Inc. | Reduce -66.2% | 0.02% | −0.03 |
| T AT&T Inc. | Reduce -0.1% | 0.20% | −0.03 |
| INTU Intuit Inc. | Reduce -1.2% | 0.47% | −0.03 |
| TT Trane Technologies PLC | Reduce -16.2% | 0.10% | −0.03 |
| ETN Eaton Corp. PLC | Reduce -1.4% | 0.14% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -1.9% | 1.51% | −0.03 |
| COIN Coinbase Global Inc. Class A | Reduce -1.3% | 0.05% | −0.03 |
| ANET Arista Networks Inc. | Reduce -1.9% | 0.16% | −0.03 |
| AGCO Agco Corp. | Reduce -3.5% | 0.29% | −0.03 |
| KNSL Kinsale Capital Group Inc. | Reduce -2.8% | 0.18% | −0.03 |
| BX Blackstone Inc. | Reduce -23.5% | 0.05% | −0.02 |
| REXR Rexford Industrial Realty Inc. | Reduce -2.5% | 0.20% | −0.02 |
| ADP Automatic Data Processing | Reduce -1.1% | 0.13% | −0.02 |
| ABT Abbott Laboratories | Reduce -0.9% | 0.21% | −0.02 |
| CPRT Copart Inc. | Reduce -3.4% | 0.10% | −0.02 |
| SU Suncor Energy Inc. | Reduce -16.1% | 0.14% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -1.9% | 0.08% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -0.1% | 0.13% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -1.0% | 0.17% | −0.02 |
| FTNT Fortinet Inc. | Reduce -2.3% | 0.18% | −0.02 |
| APP AppLovin Corp. Class A | Reduce -1.7% | 0.17% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| TTE Totalenergies SE | New | 0.29% | +0.29 |
| RACE Ferrari NV | Add +645.7% | 0.26% | +0.21 |
| QCOM Qualcomm Inc. | Add +105.8% | 0.38% | +0.20 |
| APG Api Group Corp. | Add +367.3% | 0.21% | +0.17 |
| KMI Kinder Morgan Inc. | Add +94.1% | 0.31% | +0.14 |
| ISRG Intuitive Surgical Inc. | Add +14.1% | 0.48% | +0.14 |
| INTC Intel Corp. | Add +38.0% | 0.36% | +0.12 |
| NVDA Nvidia Corp. | Add +3.7% | 6.92% | +0.10 |
| ITW Illinois Tool Works | Add +123.0% | 0.18% | +0.09 |
| BLD Topbuild Corp. | Add +21.0% | 0.41% | +0.09 |
| AMD Advanced Micro Devices | Add +1.9% | 0.35% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.2% | 1.22% | +0.08 |
| GM General Motors Co. | Add +0.4% | 0.25% | +0.06 |
| JNJ Johnson & Johnson | Add +3.1% | 0.50% | +0.06 |
| CPAY Corpay Inc. | Add +258.1% | 0.07% | +0.05 |
| HUBB Hubbell Inc. | Add +218.7% | 0.08% | +0.05 |
| CACI Caci International Inc. Class A | New | 0.05% | +0.05 |
| CNM Core & Main Inc. Class A | Add +12.5% | 0.62% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +0.0% | 0.47% | +0.04 |
| PNC PNC Financial Services Group | Add +17.4% | 0.19% | +0.03 |
| DG Dollar General Corp. | Add +0.2% | 0.14% | +0.03 |
| MICC The Magnum Ice Cream Co. NV | New | 0.03% | +0.03 |
| CRH CRH PLC | Add +12.1% | 0.20% | +0.03 |
| WST West Pharmaceutical Services | Add +78.7% | 0.05% | +0.02 |
| BRKR Bruker Corp. | Add +1.5% | 0.08% | +0.02 |
| NOC Northrop Grumman Corp. | Add +26.9% | 0.17% | +0.02 |
| AME Ametek Inc. | Add +4.2% | 0.23% | +0.02 |
| MS Morgan Stanley | Add +1.2% | 0.25% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Add +2.2% | 0.31% | +0.02 |
| PLD Prologis Inc. | Add +0.6% | 0.21% | +0.02 |
| DHR Danaher Corp. | Add +0.0% | 0.16% | +0.02 |
| WDC Western Digital Corp. | Add +0.1% | 0.06% | +0.02 |
| UNP Union Pacific Corp. | Add +12.6% | 0.24% | +0.02 |
| BA The Boeing Co. | Add +12.5% | 0.17% | +0.02 |
| TD Toronto-Dominion Bank | Add +2.2% | 0.10% | +0.02 |
| TAP Molson Coors Beverage Co. Class B | Add +6.9% | 0.20% | +0.01 |
| HALO Halozyme Therapeutics Inc. | Add +19.9% | 0.19% | +0.01 |
| GLW Corning Inc. | Add +21.5% | 0.06% | +0.01 |
| MTD Mettler-Toledo International | Add +4.3% | 0.09% | +0.01 |
| SHOP Shopify Inc. Class A | Add +1.1% | 0.17% | +0.01 |
| CTRA Coterra Energy Inc. | Add +2.4% | 0.11% | +0.01 |
| UPS United Parcel Service Class B | Add +0.5% | 0.07% | +0.01 |
| TSN Tyson Foods Inc. Class A | Add +5.5% | 0.10% | +0.01 |
| TER Teradyne Inc. | Add +7.7% | 0.03% | +0.01 |
| F Ford Motor Co. | Add +0.8% | 0.12% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +0.9% | 0.28% | +0.01 |
| JLL Jones Lang Lasalle Inc. | Add +1.1% | 0.09% | +0.01 |
| ROST Ross Stores Inc. | Add +0.9% | 0.06% | +0.01 |
| ELS Equity Lifestyle Properties | Add +6.9% | 0.21% | +0.01 |
| STX Seagate Technology Holdings | Add +4.3% | 0.05% | +0.01 |
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 |