Institutional Manager · CIK 0001520478

RWC Asset Management LLP

LONDON, X0 · File #028-14481

Latest AUM

$2.03B

Positions

166

Top-10 Concentration

49.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	EXELON CORP	EXC	+1,713,383	+$74.7M	-$128,336
EXITED	CISCO SYS INC	17275R102	-762,125	-$52.1M	$0
ADD	NEXTERA ENERGY INC	NEE-PW	+315,509	+$25.3M	+$271,669
ADD	DOMINION ENERGY INC	D	+375,093	+$22.0M	-$158,022
EXITED	NIO INC	62914V106	-2,733,551	-$20.8M	$0
REDUCE	SOCIEDAD QUIMICA Y MINERA DE	833635105	-267,197	-$18.4M	+$28.8M
ADD	PAYCHEX INC	PAYX	+155,096	+$17.4M	-$2.6M
ADD	VISTA ENERGY S.A.B. DE C.V.	VSOGF	+347,223	+$16.9M	+$5.7M
NEW	EPAM SYS INC	EPAM	+77,529	+$15.9M	$0
ADD	OMNICOM GROUP INC	OMC	+180,794	+$14.6M	-$293,754

Sector Allocation

Technology

13.9%$283.5M

Utilities

12.4%$253.4M

Consumer Staples

6.2%$126.1M

Consumer Discretionary

5.3%$108.5M

Financials

4.9%$100.4M

Healthcare

4.3%$88.2M

Communication Services

3.0%$61.2M

Industrials

2.7%$54.6M

Materials

1.6%$33.2M

Energy

0.6%$13.2M

Filing History

Feb 11, 202613F HOLDINGS REPORTQ/E Dec 2025166 pos · $2.03B
Oct 27, 202513F HOLDINGS REPORTQ/E Sep 2025188 pos · $2.07B
Aug 13, 202513F HOLDINGS REPORTQ/E Jun 2025172 pos · $1.90B
May 7, 202513F HOLDINGS REPORTQ/E Mar 2025153 pos · $1.94B
Feb 4, 202513F HOLDINGS REPORTQ/E Dec 2024152 pos · $2.00B
Oct 31, 202413F HOLDINGS REPORTQ/E Sep 2024121 pos · $1.72B
Aug 1, 202413F HOLDINGS REPORTQ/E Jun 2024102 pos · $1.42B
May 8, 202413F HOLDINGS REPORTQ/E Mar 2024111 pos · $1.59B
Oct 26, 202313F HOLDINGS REPORTQ/E Dec 2023131 pos · $1.53B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	MACYS INC	55616P104	10,965,149	$241.8M	14.40%
2	HP INC	HPQ	6,010,052	$133.9M	7.97%
3	EXELON CORP	EXC	1,803,760	$78.6M	4.68%
4	LEAR CORP	LEA	589,753	$67.6M	4.02%
5	GOLD FIELDS LTD	GFIOF	1,335,993	$58.3M	3.47%
6	SOCIEDAD QUIMICA Y MINERA DE	833635105	846,610	$58.2M	3.47%
7	JOHNSON & JOHNSON	JNJ	266,405	$55.1M	3.28%
8	MOLSON COORS BEVERAGE CO	TAP-A	1,104,632	$51.6M	3.07%
9	OMNICOM GROUP INC	OMC	557,401	$45.0M	2.68%
10	GRUPO FINANCIERO GALICIA S.A	GGAL	816,201	$44.0M	2.62%
11	SYSCO CORP	SYY	528,494	$38.9M	2.32%
12	PAYCHEX INC	PAYX	334,959	$37.6M	2.24%
13	VISTA ENERGY S.A.B. DE C.V.	VSOGF	746,132	$36.3M	2.16%
14	KEURIG DR PEPPER INC	KDP	1,269,368	$35.6M	2.12%
15	AMERICAN TOWER CORP NEW	03027X100	200,944	$35.3M	2.10%
16	VALE S A	VALE	2,500,707	$32.6M	1.94%
17	CONSTELLATION ENERGY CORP	CEG	90,481	$32.0M	1.90%
18	CMS ENERGY CORP	CMS-PC	439,807	$30.8M	1.83%
19	NEXTERA ENERGY INC	NEE-PW	372,225	$29.9M	1.78%
20	PHILIP MORRIS INTL INC	718172109	180,661	$29.0M	1.73%