FIL Ltd

FIL Ltd employs a diversified, multi-cap core investment style with a focus on high-quality businesses, as evidenced by top holdings in leading technology firms like Microsoft (2.9%), Alphabet (2.3%), and Apple (2.0%), alongside significant exposure to Canadian financials such as Royal Bank (2.8%) and Toronto Dominion (1.9%). The portfolio is heavily tilted toward Technology (22.6%) and Financial Services (14.5%), with modest representation from Industrials (9.6%), Basic Materials (9.4%), and Energy (7.8%), reflecting a balanced but growth-oriented structure. The modest 2.9% maximum weighting in any single holding, combined with over 1,800 positions across $128.7 billion in assets, indicates a highly diversified, risk-aware approach that prioritizes broad exposure over concentrated bets, while the consistent presence of both U.S. tech giants and Canadian banks reveals a long-term conviction in stable, cash-generative franchises across multiple sectors.