SCHRODER INVESTMENT MANAGEMENT GROUP

Schroder Investment Management held $122.0B across 3,326 positions, with a top-heavy megacap technology core: NVIDIA (6.3%), Alphabet (5.4%), Microsoft (4.7%) and Apple (4.1%) together approach a fifth of the book. The Q1 trade tape was dominated by selling — Microsoft (-$2.0B), Alphabet (-$1.1B), Eli Lilly (-$1.0B) and Netflix (-$0.8B) were the largest reductions — partly offset by an Apple add (+$604M). New positions in Johnson & Johnson, KLA, Spotify and ConocoPhillips broadened the book modestly. Assets fell from $130.4B to $122.0B over the quarter, with 25 positions trimmed against 17 increased.