Russell Investments Group, Ltd.

Russell Investments reported $93.1B in 13F holdings across more than 24,600 positions as of Q1 2026, making it one of the most granular institutional books in the dataset. The portfolio's Technology allocation — Nvidia ($5.1B, 5.5%), Apple ($4.0B, 4.3%), Microsoft ($3.4B, 3.6%), and Amazon ($2.2B, 2.4%) — remains the dominant thematic driver, but the quarter's inflection point is a rotation out of software-heavy names. Russell exited Oracle, Adobe, Intuit, Moody's, and Palantir, reducing exposure to enterprise software vendors that had run aggressively higher over 2024-2025 and now appear to be clearing positions at elevated valuations. Into that gap came Micron Technology, PepsiCo, and Chevron — three additions that span semiconductors (DRAM leverage to AI infrastructure), defensive consumer staples, and upstream energy, suggesting the manager is building a bridge from its AI-thesis core into more cash-generative, less-beta-compressed sectors. The sector breakdown confirms Technology at $17.7B, followed by Communication Services ($6.1B) and Financial Services ($5.9B), with Healthcare and Consumer Cyclical rounding out the top five — a diversified multi-factor profile that gives Russell optionality across rate, growth, and value regimes.