Royal London Asset Management
Royal London AM Global Equity Diversified Fund (IRL)
Global Mega-cap
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 24 companies. Every quote below is copied verbatim from the letter it came from.
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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.
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, and BJ's Wholesale Club where we believe capital can be allocated more effectively elsewhere.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, and BJ's Wholesale Club 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.
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.
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, and BJ's Wholesale Club 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 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, and BJ's Wholesale Club where we believe capital can be allocated more effectively elsewhere.