RWC Asset Management LLP
Long book
$2.21B
Q1 2026
Positions
118
Top-10 weight
46%
concentration
Last quarter
+4.3%
SPY +14.8%
Turnover
18%
of book per quarter
Strategy in plain words
auto-generated from filingsRWC Asset Management LLP is a diversified fundamental manager, running a $2.21B US long book across 118 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: MACY'S INC, COMCAST CORP-CLASS A, HP INC, KRAFT HEINZ CO/THE, EXELON CORP.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.6%
Q2 2024
+9.9%
Q3 2024
-5.3%
Q4 2024
+2.5%
Q1 2025
+0.6%
Q2 2025
+8.9%
Q3 2025
+7.2%
Q4 2025
+0.0%
Q1 2026
+4.3%
Sector allocation
Utilities 24%
Consumer discretionary 15%
Consumer staples 15%
Communications 11%
Technology 9%
Healthcare 9%
Industrials 6%
Services media 6%
Long book by quarter
What does RWC Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| M MACY'S INC | Consumer discretionary | 11.3M | $204.0M | 9.2% | +2.8% |
| CMCSA COMCAST CORP-CLASS A | Communications | 6.1M | $173.9M | 7.9% | New |
| HPQ HP INC | Technology | 6.2M | $119.6M | 5.4% | +3.6% |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 4.8M | $109.0M | 4.9% | New |
| EXC EXELON CORP | Utilities | 1.6M | $80.3M | 3.6% | -9.2% |
| LEA LEAR CORP | Industrials | 637.6K | $77.2M | 3.5% | +8.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 257.2K | $62.9M | 2.8% | -3.5% |
| OMC OMNICOM GROUP | Services media | 722.9K | $54.4M | 2.5% | +29.7% |
| BAX BAXTER INTERNATIONAL INC | Healthcare | 3.1M | $51.7M | 2.3% | New |
| TAP MOLSON COORS BEVERAGE CO - B | Consumer staples | 1.2M | $50.9M | 2.3% | +7.1% |
| SYY SYSCO CORP | Consumer discretionary | 510.0K | $36.4M | 1.6% | -3.5% |
| NEE NEXTERA ENERGY INC | Utilities | 365.4K | $33.9M | 1.5% | -1.8% |
| CMS CMS ENERGY CORP | Utilities | 424.3K | $32.9M | 1.5% | -3.5% |
| KDP KEURIG DR PEPPER INC | Consumer staples | 1.2M | $32.3M | 1.5% | -3.5% |
| CEG CONSTELLATION ENERGY | Utilities | 109.2K | $30.5M | 1.4% | +20.7% |
| PAYX PAYCHEX INC | Services media | 323.4K | $29.8M | 1.3% | -3.4% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 174.3K | $28.8M | 1.3% | -3.5% |
| D DOMINION ENERGY INC | Utilities | 442.3K | $27.3M | 1.2% | +1.4% |
| PEP PEPSICO INC | Consumer staples | 167.7K | $26.0M | 1.2% | -3.5% |
| MRK MERCK & CO. INC. | Healthcare | 205.1K | $24.7M | 1.1% | -3.4% |
| WMB WILLIAMS COS INC | Utilities | 321.0K | $23.4M | 1.1% | New |
| PEG PUBLIC SERVICE ENTERPRISE GP | Utilities | 278.4K | $22.5M | 1.0% | +2.2% |
| DVN DEVON ENERGY CORP | Energy | 388.3K | $19.5M | 0.9% | +95.7% |
| CWEN CLEARWAY ENERGY INC-C | Utilities | 479.0K | $18.8M | 0.8% | -9.0% |
| MELI MERCADOLIBRE INC | Services media | 10.8K | $18.7M | 0.8% | +8.2% |
| TEL TE CONNECTIVITY PLC | Consumer discretionary | 81.4K | $17.0M | 0.8% | +17.7% |
| HUBB HUBBELL INC | Technology | 32.2K | $15.8M | 0.7% | -3.2% |
| PCG P G & E CORP | Utilities | 896.7K | $15.8M | 0.7% | Held |
| EPAM EPAM SYSTEMS INC | Technology | 116.1K | $15.7M | 0.7% | +49.7% |
| VSNT VERSANT MEDIA GROUP INC | Communications | 416.5K | $15.4M | 0.7% | New |
| CHRD CHORD ENERGY CORP | Energy | 106.8K | $15.2M | 0.7% | New |
| DAL DELTA AIR LINES INC | Industrials | 228.4K | $15.2M | 0.7% | +60.7% |
| AQN ALGONQUIN POWER & UTILITIES | Utilities | 2.2M | $13.7M | 0.6% | -4.3% |
| SYF SYNCHRONY FINANCIAL | Financials | 183.1K | $12.5M | 0.6% | +60.7% |
| ORA ORMAT TECHNOLOGIES INC | Utilities | 99.4K | $11.1M | 0.5% | +1.6% |
| XEL XCEL ENERGY INC | Utilities | 134.6K | $10.7M | 0.5% | -0.7% |
| SO SOUTHERN CO/THE | Utilities | 109.4K | $10.6M | 0.5% | -0.6% |
| AVA AVISTA CORP | Utilities | 255.4K | $10.3M | 0.5% | +2.3% |
| TECK TECK RESOURCES LTD-CLS B | Materials | 190.1K | $9.8M | 0.4% | -10.9% |
| OC OWENS CORNING | Industrials | 87.1K | $9.4M | 0.4% | New |
| VST VISTRA CORP | Utilities | 57.3K | $8.6M | 0.4% | -0.7% |
| AEP AMERICAN ELECTRIC POWER | Utilities | 64.4K | $8.4M | 0.4% | -0.5% |
| TLN TALEN ENERGY CORP | Utilities | 25.5K | $8.1M | 0.4% | +4.0% |
| ES EVERSOURCE ENERGY | Utilities | 114.5K | $7.9M | 0.4% | -0.6% |
| DTE DTE ENERGY COMPANY | Utilities | 51.2K | $7.5M | 0.3% | -24.4% |
| AES AES CORP | Utilities | 470.8K | $6.6M | 0.3% | -0.6% |
| AEE AMEREN CORPORATION | Utilities | 60.3K | $6.6M | 0.3% | -0.5% |
| RUN SUNRUN INC | Technology | 415.6K | $5.6M | 0.3% | +4.3% |
| JXN JACKSON FINANCIAL INC-A | Financials | 53.2K | $5.6M | 0.3% | +6.4% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 40.0K | $5.4M | 0.2% | -0.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 163 | $2.40B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 166 | $2.03B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 188 | $2.07B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 172 | $1.90B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 153 | $1.94B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 4, 2025 | 152 | $2.00B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 31, 2024 | 121 | $1.72B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 102 | $1.42B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 111 | $1.59B | canonical | SEC ↗ |
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