Rathbones Group PLC
Reported US equity positions for Q1 2026 — $23.4B across 643 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| MSFT Microsoft Corporation | $1.3B | 5.7% | 3,613,937 |
| GOOGL Alphabet Inc. | $1.2B | 5.1% | 4,165,091 |
| AMZN Amazon.com, Inc. | $1.1B | 4.6% | 5,201,829 |
| NVDA NVIDIA Corporation | $1.1B | 4.5% | 6,048,138 |
| V Visa Inc. | $959.1M | 4.1% | 3,173,148 |
| AAPL Apple Inc. | $832.5M | 3.6% | 3,280,093 |
| JPM JP Morgan Chase & Co. | $798.8M | 3.4% | 2,715,472 |
| TMO Thermo Fisher Scientific Inc | $468.9M | 2.0% | 953,908 |
| BRK.B Berkshire Hathaway Inc. | $468.7M | 2.0% | 978,041 |
| KO The Coca-Cola Company | $457.2M | 2.0% | 6,012,230 |
| GOOG Alphabet Inc. - Class C Capital Stock | $451.6M | 1.9% | 1,574,452 |
| APH Amphenol Corporation | $389.6M | 1.7% | 3,083,245 |
| META Meta Platforms, Inc. | $386.3M | 1.7% | 675,217 |
| LLY Eli Lilly and Company | $384.5M | 1.6% | 418,036 |
| AVGO Broadcom Inc. | $350.6M | 1.5% | 1,132,778 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $346.8M | 1.5% | 1,026,057 |
| ABT Abbott Laboratories | $328.0M | 1.4% | 3,194,265 |
| G25508105 CRH EUR0.32 Ord Shs (Primary List) | $296.4M | 1.3% | 2,833,221 |
| CME CME Group Inc. | $292.5M | 1.2% | 990,360 |
| F92124100 TOTALENERGIES SE EUR2.5 Shares | $290.5M | 1.2% | 3,120,608 |
| G54950103 LINDE PLC EUR0.001 Common Shares | $290.3M | 1.2% | 585,655 |
| GS The Goldman Sachs Group, Inc. | $257.9M | 1.1% | 304,830 |
| MA Mastercard Incorporated | $255.0M | 1.1% | 510,403 |
| SPGI S&P Global Inc. | $239.7M | 1.0% | 563,623 |
| MRSH Marsh | $235.4M | 1.0% | 1,356,972 |
| COST Costco Wholesale Corporation | $235.1M | 1.0% | 235,962 |
| PG The Procter & Gamble Company | $223.3M | 1.0% | 1,546,258 |
| EQIX Equinix, Inc. | $209.9M | 0.9% | 214,132 |
| BSX Boston Scientific Corporation | $199.5M | 0.9% | 3,179,435 |
| BKNG Booking Holdings Inc. | $199.2M | 0.9% | 47,307 |
| HD The Home Depot, Inc. | $198.3M | 0.8% | 602,998 |
| ISRG Intuitive Surgical, Inc. | $193.9M | 0.8% | 420,611 |
| XOM ExxonMobil Holdings Corporation | $182.5M | 0.8% | 1,075,915 |
| JNJ Johnson & Johnson | $180.9M | 0.8% | 740,168 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $179.2M | 0.8% | 1,510,859 |
| CDNS Cadence Design Systems, Inc. | $176.0M | 0.8% | 633,384 |
| KKR KKR & Co. Inc. | $167.5M | 0.7% | 1,810,812 |
| FCX Freeport-McMoRan, Inc. | $165.9M | 0.7% | 2,822,756 |
| CAT Caterpillar, Inc. | $164.1M | 0.7% | 231,639 |
| DE Deere & Company | $156.8M | 0.7% | 278,328 |
| MSI Motorola Solutions, Inc. | $156.0M | 0.7% | 359,418 |
| RTX RTX Corporation | $154.0M | 0.7% | 798,460 |
| PANW Palo Alto Networks, Inc. | $151.1M | 0.6% | 942,520 |
| ORLY O'Reilly Automotive, Inc. | $149.8M | 0.6% | 1,623,190 |
| SUNB SUNBELT RENTALS HOLDINGS INC USD0.01 Common Stock | $146.3M | 0.6% | 2,292,966 |
| PH Parker-Hannifin Corporation | $145.3M | 0.6% | 162,313 |
| CVX Chevron Corporation | $144.3M | 0.6% | 697,392 |
| FERG Ferguson Enterprises Inc. | $143.3M | 0.6% | 614,528 |
| G1151C101 ACCENTURE PLC New A Class Shares | $142.7M | 0.6% | 719,874 |
| USB U.S. Bancorp | $123.6M | 0.5% | 2,376,051 |
| WMT Walmart Inc. | $122.6M | 0.5% | 986,787 |
| MS Morgan Stanley | $122.2M | 0.5% | 742,378 |
| NFLX Netflix, Inc. | $121.8M | 0.5% | 1,266,693 |
| TJX The TJX Companies, Inc. | $111.8M | 0.5% | 700,201 |
| CP Canadian Pacific Kansas City Limited | $110.7M | 0.5% | 1,407,840 |
| INTU Intuit Inc. | $108.2M | 0.5% | 250,320 |
| WM Waste Management, Inc. | $107.3M | 0.5% | 466,899 |
| WCN Waste Connections, Inc. | $103.7M | 0.4% | 638,608 |
| G3265R107 APTIV PLC USD0.01 Common Shares | $99.3M | 0.4% | 1,430,070 |
| CBRE CBRE Group Inc Common Stock Class A | $97.4M | 0.4% | 718,878 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| MSFT Microsoft Corporation | Add | $1.3B | $1.7B | +3% |
| GOOGL Alphabet Inc. | Trim | $1.2B | $1.3B | -3% |
| AMZN Amazon.com, Inc. | Trim | $1.1B | $1.2B | -2% |
| NVDA NVIDIA Corporation | Add | $1.1B | $1.1B | +6% |
| V Visa Inc. | Trim | $959.1M | $1.1B | -2% |
| AAPL Apple Inc. | Add | $832.5M | $856.8M | +4% |
| TMO Thermo Fisher Scientific Inc | Add | $468.9M | $537.0M | +3% |
| BRK.B Berkshire Hathaway Inc. | Trim | $468.7M | $498.6M | -1% |
| KO The Coca-Cola Company | Add | $457.2M | $414.3M | +1% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $451.6M | $537.4M | -8% |
| APH Amphenol Corporation | Add | $389.6M | $383.7M | +9% |
| META Meta Platforms, Inc. | Trim | $386.3M | $459.8M | -3% |
| LLY Eli Lilly and Company | Add | $384.5M | $421.4M | +7% |
| AVGO Broadcom Inc. | Add | $350.6M | $334.5M | +17% |
| ABT Abbott Laboratories | Add | $328.0M | $390.5M | +3% |
| G25508105 CRH EUR0.32 Ord Shs (Primary List) | Add | $296.4M | $334.7M | +6% |
| G54950103 LINDE PLC EUR0.001 Common Shares | Trim | $290.3M | $259.3M | -4% |
| GS The Goldman Sachs Group, Inc. | Add | $257.9M | $257.8M | +4% |
| MA Mastercard Incorporated | Trim | $255.0M | $304.0M | -4% |
| SPGI S&P Global Inc. | Trim | $239.7M | $333.4M | -12% |
| MRSH Marsh | Add | $235.4M | $247.1M | +2% |
| COST Costco Wholesale Corporation | Trim | $235.1M | $236.8M | -14% |
| PG The Procter & Gamble Company | Add | $223.3M | $214.9M | +3% |
| EQIX Equinix, Inc. | Trim | $209.9M | $170.1M | -4% |
| BSX Boston Scientific Corporation | Add | $199.5M | $263.1M | +15% |
| BKNG Booking Holdings Inc. | Trim | $199.2M | $347.6M | -27% |
| HD The Home Depot, Inc. | Trim | $198.3M | $212.2M | -2% |
| ISRG Intuitive Surgical, Inc. | Trim | $193.9M | $252.2M | -6% |
| XOM ExxonMobil Holdings Corporation | Add | $182.5M | $107.8M | +20% |
| JNJ Johnson & Johnson | Trim | $180.9M | $157.9M | -3% |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | Add | $179.2M | $225.6M | +8% |
| CDNS Cadence Design Systems, Inc. | Add | $176.0M | $192.7M | +3% |
| KKR KKR & Co. Inc. | Add | $167.5M | $191.3M | +21% |
| FCX Freeport-McMoRan, Inc. | Add | $165.9M | $91.3M | +57% |
| CAT Caterpillar, Inc. | Add | $164.1M | $98.9M | +34% |
| DE Deere & Company | Trim | $156.8M | $147.3M | -12% |
| MSI Motorola Solutions, Inc. | Add | $156.0M | $83.8M | +64% |
| RTX RTX Corporation | Trim | $154.0M | $151.2M | -3% |
| PANW Palo Alto Networks, Inc. | Add | $151.1M | $158.0M | +10% |
| ORLY O'Reilly Automotive, Inc. | Add | $149.8M | $146.3M | +1% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.