R Squared Portfolio Shifts
R Squared Ltd Adjusts Q1 Portfolio with New Stakes in SanDisk, Target, Kenvue; Trims Equinor
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Key Points
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R Squared trimmed its Equinor (EQNR) stake by 66% in Q1, selling 18,882 shares and ending with 9,730 shares worth about $411,000; this contrasts with notable activity from other investors, such as Royal Bank of Canada increasing its EQNR stake by 11.1% to 148,723 shares (approx. $3.93 million).
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R Squared purchased 1,551 Sandisk Corporation (SNDK) shares in Q1 for roughly $985,000, with Sandisk accounting for about 0.5% of its portfolio and ranking as the 28th largest holding; ProShare Advisors LLC also boosted its Sandisk position by about 1,301.5% to 33,637 shares (roughly $7.99 million), signaling strong institutional interest.
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R Squared disclosed a 15,351-share stake in Royalty Pharma (RPRX), valued around $736,000; Morgan Stanley, meanwhile, expanded its RPRX position by 11,110,115 shares in the last quarter, bringing its total to 55,274,069 shares worth about $2.14 billion.
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R Squared opened a new position in Target Corporation (TGT) with 4,806 shares valued at about $582,000; Target also shows very high institutional ownership, at 79.73%, reflecting broad investor participation in the name.
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R Squared increased its position in Kenvue (KVUE) by 136.5% in Q1 to 65,589 shares, about $1.131 million, making KVUE roughly 0.6% of its portfolio and its 21st biggest holding; KVUE remains a heavily owned name among major institutions such as Vanguard, State Street, Geode, Independent Franchise Partners, and Norges Bank.
R Squared Ltd made a flurry of portfolio moves in the first quarter, adding new positions in Target and SanDisk while sharply boosting its Kenvue stake by 136.5%, according to Watchlist News. The firm now holds 65,589 shares of Kenvue worth about $1.13 million, making it the fund's 21st largest holding.
The activity signals a broad push into consumer, pharma, energy, and tech storage names. At the same time, R Squared cut some existing positions, trimming its Equinor stake by 66% and reducing its AstraZeneca holdings by 54.9%, per Watchlist News.
Kenvue and Target Lead New Buying Activity
R Squared's biggest new commitment was in Kenvue, the consumer health spinoff from Johnson & Johnson. The firm bought 37,859 additional shares in Q1, lifting its total to 65,589 shares valued at roughly $1.13 million, according to Watchlist News. Kenvue now makes up about 0.6% of R Squared's portfolio. Major institutions like Vanguard, State Street, and Norges Bank also hold the name.
R Squared also opened a brand-new position in Target, buying 4,806 shares for about $582,000, per Watchlist News. Target carries very high institutional ownership at 79.73%, showing just how broadly held the retailer is among big funds.
SanDisk and Royalty Pharma Round Out New Stakes
R Squared bought 1,551 shares of SanDisk Corporation for roughly $985,000 in Q1, making SNDK about 0.5% of its portfolio and its 28th largest holding, according to Watchlist News. SanDisk drew strong interest from other funds too. ProShare Advisors boosted its SanDisk position by about 1,301.5%, ending the quarter with 33,637 shares worth roughly $7.99 million.
R Squared also disclosed a new 15,351-share stake in Royalty Pharma, valued at around $736,000, per Watchlist News. Royalty Pharma is a company that buys rights to drug royalties rather than making medicines itself. Morgan Stanley moved in a much bigger way, adding over 11 million RPRX shares last quarter to reach a total of 55.27 million shares worth about $2.14 billion.
Equinor Stake Cut Sharply as Energy Bet Shrinks
Not all of R Squared's Q1 moves were buys. The firm cut its Equinor stake by 66%, selling 18,882 shares and ending the quarter with just 9,730 shares worth about $411,000, according to Watchlist News. Equinor is a Norwegian state-owned energy company. The trim came even as Royal Bank of Canada went the other way, boosting its Equinor position by 11.1% to 148,723 shares worth roughly $3.93 million.
Applied Materials and Grab Add Tech and Asia Exposure
R Squared also added new exposure to Applied Materials, buying 1,611 shares for about $551,000 in Q1, according to Ticker Report. Applied Materials makes equipment used to build computer chips. Separately, R Squared raised its stake in Grab Holdings by 1,090.2%, buying 157,527 shares and bringing its total to 171,976 shares, per Watchlist News. Grab is a Southeast Asia-based ride-hailing and delivery company. Together, these moves show the firm casting a wide net across sectors and geographies.
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