Royal London Asset Management
Royal London AM US Equity Fund (IRL)
US Mega-cap
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy and positions in 33 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Royal London Asset Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Z Acc USD
- YTD+13.0%index +12.3%
- 1Y+16.3%index +15.0%
- Inception · /yr+16.3%index +17.6%
Index: MSCI USA Index (Net Total Return, USD)
| YTD | 1Y | Since inceptionper year | |
|---|---|---|---|
| Royal London AM US Equity Fund (IRL) | +13.0% | +16.3% | +16.3% |
| MSCI USA Index (Net Total Return, USD) | +12.3% | +15.0% | +17.6% |
Calendar years
- 2025+14.2%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
These purchases were funded through the sale of lower-conviction positions including Flutter, Comcast and Church & Dwight, reflecting stock selection decisions rather than a sector allocation change.
These purchases were funded through the sale of lower-conviction positions including Flutter, Comcast and Church & Dwight, reflecting stock selection decisions rather than a sector allocation change.
We diversified the portfolio’s technology exposure by reducing positions in semiconductor manufacturers Micron and SK Hynix and adding Seagate, which manufactures hard disk drives.
Looking at transactions, we added to Nebius, which provides data and AI infrastructure, and established a larger position in ARM Holdings, increasing exposure to AI and neocloud- computing.
We diversified the portfolio’s technology exposure by reducing positions in semiconductor manufacturers Micron and SK Hynix and adding Seagate, which manufactures hard disk drives.
We also switched from Microsoft into IBM, which increased exposure to emerging quantum- computing opportunities.
These purchases were funded through the sale of lower-conviction positions including Flutter, Comcast and Church & Dwight, reflecting stock selection decisions rather than a sector allocation change.
We diversified the portfolio’s technology exposure by reducing positions in semiconductor manufacturers Micron and SK Hynix and adding Seagate, which manufactures hard disk drives.
Looking at transactions, we added to Nebius, which provides data and AI infrastructure, and established a larger position in ARM Holdings, increasing exposure to AI and neocloud- computing.
We also switched from Microsoft into IBM, which increased exposure to emerging quantum- computing opportunities.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
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.
We added to Cisco Systems and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
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.
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 and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations.
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 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.