Sustainable Growth Advisers Q1 2026: Quality Growth

Sustainable Growth Advisers, a global quality-growth manager, reported a $10.62B U.S. equity book for the quarter ended March 31, 2026 (Form 13F-HR, accession 0001290668-26-000002, filed 2026-05-11). True to its name, SGA invests in companies it believes can grow earnings durably and sustainably over the long term — and its concentrated book reflects that, led by the highest-quality compounders in the market.

Nvidia (NVDA) tops the portfolio at 7.96%, followed by Amazon (AMZN) at 6.41%, Microsoft (MSFT) at 5.47%, Alphabet's GOOG shares at 5.11%, and Visa (V) at 4.98%. The standout move within the quarter's filing was a sharp increase in Broadcom (AVGO), which more than doubled in share terms to a 4.26% position.

The book pairs these megacap-quality leaders with steady compounders like Waste Management (WM) and railroad Canadian Pacific Kansas City (CP) — businesses with pricing power and predictable, reinvestable cash flows.

A concentrated quality-growth book

After the top five come Waste Management at 4.37%, Broadcom at 4.26%, Canadian Pacific at 3.86%, Meta (META) at 3.76%, and Apple (AAPL) at 3.65%. With 51 positions and the top ten at roughly 50% of the book, SGA runs a focused portfolio of durable-growth franchises rather than a broad index.

The "sustainable growth" philosophy favors companies with strong competitive positions, high returns on capital, and the ability to compound earnings for years — payment networks, dominant software and internet platforms, and quality industrials and infrastructure names. It is a recognizably quality-growth book, the kind designed to be held for the long term.

The Broadcom conviction

The clearest signal in the filing is the large Broadcom increase — a move that more than doubled the position and lifted it into the top tier. Adding aggressively to a semiconductor leader tied to AI networking and custom silicon fits a growth manager leaning further into durable, secular demand.

The portfolio's overall value declined on the quarter, a swing that for a concentrated growth book reflects a mix of market movement and flows. The composition, though, remains squarely quality-growth, with the Broadcom add the standout expression of conviction.

What it means for 13F readers

Sustainable Growth Advisers offers a clean read on global quality-growth investing — a concentrated set of durable compounders led by megacap technology, payments, and quality industrials. The Broadcom increase is the quarter's signal worth noting. Track the firm's quarter-over-quarter holdings on the Sustainable Growth Advisers filer page.

FAQ

What is Sustainable Growth Advisers?

Sustainable Growth Advisers (SGA) is a global quality-growth manager that invests in companies it believes can grow earnings durably over the long term. It reported a $10.62B U.S. equity 13F book for the quarter ended March 31, 2026.

What are SGA's largest holdings?

Its five largest positions are Nvidia (7.96%), Amazon (6.41%), Microsoft (5.47%), Alphabet's GOOG shares (5.11%), and Visa (4.98%) — a concentrated quality-growth book.

What was SGA's standout move in Q1 2026?

The clearest move was a sharp increase in Broadcom, which more than doubled in share terms to a 4.26% position — an aggressive add to an AI-linked semiconductor leader.

What kind of companies does SGA favor?

Durable-growth franchises with strong competitive positions, high returns on capital, and reinvestable cash flows — payment networks, dominant software and internet platforms, and quality industrials and infrastructure.