ROYAL BANK OF CANADA

CIK 0001000275 · Q2 2026

13F Equity AUM

$671.5B

+17.8% QoQ

Positions

4,207

+98 QoQ

AUM Rank

#22

Top 0.3%

Skill Alpha (FF)

+14.6%/yr^ns

No Clear Edge

Rank #233 · Top 3%

vs S&P +12.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 16.8%Top 10: 26.1%Top 20: 37.1%

SPY6.5%

NVDA3.1%

AAPL3.0%

RY2.2%

GOOGL2.0%

MSFT2.0%

TD2.0%

AMZN1.9%

IVV1.7%

NDQ1.6%

Others (4197)73.9%

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

Sector Allocation

Financial Services41.6%

Technology18.2%

Energy6.3%

Industrials6.0%

Communication Services6.0%

Healthcare5.6%

Consumer Cyclical5.5%

Consumer Defensive2.9%

Other8.0%

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

Position Sizing

Positions: 4207Median: 0.00%Avg: 0.02%

0–0.5%

4172(53.0%)

0.5–1%

18(12.6%)

1–3%

15(24.8%)

3–5%

1(3.1%)

5%+

1(6.5%)

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

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Portfolio Overlap

Shared: 0Unique: 4,207vs 20 funds

0%Low

4,207

Fund positions

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.

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Position Changes This Quarter

New545Increased3855Decreased2364Exited436

New Positions

HONEYWELL INTL INC0.1%

+3.5M

HONEYWELL AEROSPACE …0.1%

+3.5M

THOMSON REUTERS CORP0.1%

+8.0M

CARNIVAL CORP LTD0.1%

+12.7M

OGC0.0%

+5.3M

SPACE EXPLORATION TE…0.0%

+628K

DUPONT DE NEMOURS IN…0.0%

+358K

FEDEX FGHT HLDG CO I…0.0%

+387K

MAYWOOD ACQUISITION …0.0%

+17K

ROUNDHILL ETF TRUST0.0%

+290K

Increased

SPY6.5%

+31.8M(+120%)

MCHP 0.75 06/01/300.0%

+19.9M(+601%)

RIVN 3.625 10/15/300.0%

+18.1M(+22650%)

AKAM 1.125 02/15/290.0%

+13.7M(+217%)

VUG0.2%

+11.5M(+511%)

T0.2%

+11.0M(+9%)

CRC0.9%

+11.0M(+8%)

SNOW 0 10/01/270.0%

+10.1M(+504350%)

BTE0.0%

+7.8M(+97%)

PPL0.3%

+6.7M(+16%)

Decreased

RIVN 4.625 03/15/290.0%

-15,790,000(-100%)

TRP0.8%

-10,037,638(-11%)

FXI0.0%

-8,940,948(-89%)

TD2.0%

-8,692,137(-7%)

T0.1%

-8,611,317(-23%)

AQN0.0%

-8,426,366(-41%)

XLE0.1%

-8,345,941(-33%)

EEM0.1%

-8,282,900(-51%)

BNS1.1%

-6,763,289(-7%)

PMT 8.5 06/01/290.0%

-6,658,000(-39%)

Exited

-6,742,627

-9,235,633

-12,956,282

-505,844

-1,573,098

-1,347,933

-22

-63

-820

-1

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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