ROYAL BANK OF CANADA

CIK 0001000275 · Q1 2026

13F Equity AUM

$570.1B

-7.3% QoQ

Positions

4,109

+39 QoQ

AUM Rank

#42

Top 0.3%

Skill Alpha (FF)

-1.0%/yr^ns

No Clear Edge

Rank #3,649 · Top 44%

vs S&P -5.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 13.6%Top 10: 22.6%Top 20: 34.0%

AAPL3.0%

NVDA3.0%

SPY3.0%

MSFT2.5%

IVV2.1%

RY2.1%

TD1.9%

GOOGL1.8%

AMZN1.7%

BMO1.4%

Others (4099)77.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services39.0%

Technology16.4%

Energy7.8%

Industrials6.6%

Communication Services6.4%

Healthcare6.1%

Consumer Cyclical6.0%

Basic Materials3.5%

Other8.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 4109Median: 0.00%Avg: 0.02%

0–0.5%

4072(54.5%)

0.5–1%

16(10.6%)

1–3%

18(25.9%)

3–5%

3(9.1%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 3,828Unique: 281vs 20 funds

50.5%High

4,109

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

63.2%

BANK OF AMERICA CORP /DE/

65.2%

48.5%

43.5%

46.3%

39.2%

GEODE CAPITAL MANAGEMENT, LLC

36.2%

VANGUARD CAPITAL MANAGEMENT LLC

35.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

36.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New511Increased2913Decreased3257Exited460

New Positions

AZN0.4%

+10.4M

SUNBELT RENTALS HOLD…0.1%

+7.1M

BROOKFIELD BUSINESS …0.0%

+5.3M

MDA0.0%

+3.5M

AMCOR PLC0.0%

+1.7M

XAI OCTAGN FLT RAT &…0.0%

+7K

NOVABAY PHARMACEUTIC…0.0%

CONL0.0%

+2K

SRTS0.0%

+45

RDCM0.0%

+84

Increased

RIVN 4.625 03/15/290.0%

+15.1M(+2282%)

ON 0 05/01/270.0%

+11.8M(+4480%)

CRC1.2%

+10.4M(+8%)

EEM0.2%

+10.3M(+174%)

CSX0.1%

+8.5M(+74%)

FXI0.1%

+8.5M(+544%)

EZU0.1%

+6.3M(+114%)

ETSY 0.125 09/01/270.0%

+6.1M(+3797%)

COP0.2%

+5.5M(+136%)

VEA0.5%

+5.0M(+12%)

Decreased

T0.3%

-25,832,241(-17%)

MFC0.7%

-24,173,919(-17%)

BNS1.1%

-17,783,975(-16%)

COIN 0.5 06/01/260.0%

-16,507,000(-100%)

VOO0.7%

-14,932,081(-70%)

NVDA3.0%

-10,775,405(-10%)

IVV2.1%

-10,144,191(-36%)

ENB1.0%

-10,065,370(-8%)

CSCO0.3%

-7,017,536(-24%)

TD1.9%

-6,981,076(-6%)

Exited

-3,365,329

-5,048,548

-5,925,499

-108,506

-6,752,413

-167

-435

-75,359

-1,366

-12

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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