Royal London Asset Management
Royal London AM Global Equity Diversified Fund
Global Mega-cap
Jun 2026 → Jun 2026
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What it bought and sold
We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Within industrials, we switched part of our position from Volvo into Daimler Truck.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We also trimmed TSMC following a period of strong share price performance, although it remains a significant active position within the portfolio.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
Within industrials, we switched part of our position from Volvo into Daimler Truck.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.