NatWest Group plc
Long book
$462.2M
Q1 2026
Positions
44
Top-10 weight
49%
concentration
Last quarter
+13.4%
SPY +14.8%
Turnover
20%
of book per quarter
Strategy in plain words
auto-generated from filingsNatWest Group plc is a concentrated fundamental stock-picker, running a $462.2M US long book across 44 positions.
The portfolio is moderately concentrated (top 10 ≈ 49% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ASTRAZENECA PLC, APPLE INC, NVIDIA CORP, ALPHABET INC-CL A, MICROSOFT CORP.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+7.4%
Q2 2024
+4.5%
Q3 2024
+3.2%
Q4 2024
-3.5%
Q1 2025
+14.7%
Q2 2025
+4.7%
Q3 2025
+2.3%
Q4 2025
-3.4%
Q1 2026
+13.4%
Sector allocation
Technology 28%
Healthcare 16%
Financials 14%
Other 11%
Industrials 10%
Services media 7%
Consumer discretionary 6%
Consumer staples 5%
Long book by quarter
What does NatWest Group own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AZN ASTRAZENECA PLC | Healthcare | 204.4K | $40.3M | 8.7% | New |
| AAPL APPLE INC | Technology | 138.7K | $35.2M | 7.6% | +4.0% |
| NVDA NVIDIA CORP | Technology | 178.5K | $31.1M | 6.7% | -11.1% |
| GOOGL ALPHABET INC-CL A | Technology | 68.0K | $19.6M | 4.2% | -34.1% |
| MSFT MICROSOFT CORP | Technology | 50.6K | $18.7M | 4.1% | -20.2% |
| LRCX LAM RESEARCH CORP | Industrials | 84.5K | $18.0M | 3.9% | +1.3% |
| KLAC KLA CORP | Other | 12.1K | $17.8M | 3.8% | -5.5% |
| CME CME GROUP INC | Financials | 60.0K | $17.7M | 3.8% | Held |
| CBOE CBOE GLOBAL MARKETS INC | Financials | 47.5K | $13.4M | 2.9% | New |
| MNST MONSTER BEVERAGE CORP | Consumer staples | 174.5K | $12.6M | 2.7% | -9.8% |
| AMGN AMGEN INC | Healthcare | 35.8K | $12.6M | 2.7% | New |
| ROST ROSS STORES INC | Consumer discretionary | 55.7K | $12.1M | 2.6% | New |
| GE GENERAL ELECTRIC | Industrials | 37.0K | $10.5M | 2.3% | +1.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 43.0K | $10.5M | 2.3% | -25.1% |
| GS GOLDMAN SACHS GROUP INC | Financials | 12.4K | $10.5M | 2.3% | -34.2% |
| EBAY EBAY INC | Services media | 111.1K | $10.1M | 2.2% | +23.0% |
| HSY HERSHEY CO/THE | Consumer staples | 48.6K | $10.1M | 2.2% | New |
| HWM HOWMET AEROSPACE INC | Industrials | 43.4K | $10.0M | 2.2% | +4.7% |
| CF CF INDUSTRIES HOLDINGS INC | Other | 75.5K | $9.8M | 2.1% | New |
| AVGO BROADCOM INC | Technology | 31.5K | $9.8M | 2.1% | -41.4% |
| MS MORGAN STANLEY | Financials | 58.3K | $9.6M | 2.1% | -16.2% |
| NEM NEWMONT CORP | Materials | 87.1K | $9.4M | 2.0% | -31.6% |
| V VISA INC-CLASS A SHARES | Services media | 27.2K | $8.2M | 1.8% | +3.9% |
| KR KROGER CO | Consumer discretionary | 111.6K | $8.1M | 1.7% | +4.1% |
| MCO MOODY'S CORP | Services media | 17.5K | $7.7M | 1.7% | +3.1% |
| TT TRANE TECHNOLOGIES PLC | Technology | 16.0K | $6.7M | 1.4% | +2.9% |
| JPM JPMORGAN CHASE & CO | Financials | 22.5K | $6.6M | 1.4% | -64.4% |
| UBER UBER TECHNOLOGIES INC | Services media | 90.7K | $6.5M | 1.4% | +2.7% |
| GILD GILEAD SCIENCES INC | Healthcare | 45.1K | $6.3M | 1.4% | +2.7% |
| LTEC LOGITECH INTERNATIONAL-REG | — | 66.9K | $6.1M | 1.3% | +7.1% |
| UBS UBS GROUP AG-REG | Financials | 147.9K | $5.8M | 1.3% | +6.6% |
| BKNG BOOKING HOLDINGS INC | Industrials | 1.4K | $5.7M | 1.2% | +2.5% |
| CL COLGATE-PALMOLIVE CO | Other | 63.5K | $5.4M | 1.2% | +0.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 25.9K | $5.4M | 1.2% | +4.2% |
| CTAS CINTAS CORP | Other | 31.1K | $5.3M | 1.1% | +2.4% |
| NRG NRG ENERGY INC | Utilities | 34.6K | $5.1M | 1.1% | +3.5% |
| KMB KIMBERLY-CLARK CORP | Other | 49.1K | $4.7M | 1.0% | +0.7% |
| LLY ELI LILLY & CO | Healthcare | 4.3K | $4.0M | 0.9% | New |
| MSI MOTOROLA SOLUTIONS INC | Technology | 8.8K | $3.8M | 0.8% | -1.8% |
| TTE TOTALENERGIES SE | Energy | 18.3K | $1.7M | 0.4% | -1.3% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 7.2K | $350K | 0.1% | Held |
| CMI CUMMINS INC | Industrials | 528 | $284K | 0.1% | Held |
| GOOG ALPHABET INC-CL C | Technology | 875 | $251K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 83 | $462.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 13, 2026 | 72 | $429.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 8, 2025 | 72 | $404.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 31, 2025 | 60 | $338.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 62 | $339.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 60 | $337.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 63 | $338.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 66 | $292.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 19, 2024 | 64 | $259.7M | canonical | SEC ↗ |
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