Royal Bank of Canada's Q1 SEC Filings Show Mixed Portfolio Shifts Across Five Stocks

Royal Bank of Canada's Q1 SEC filings reveal it trimmed stakes in four companies while significantly boosting one position.

Royal Bank of Canada's first-quarter 13F filings with the SEC reveal a pattern of portfolio rebalancing across five publicly traded companies, with reductions in four holdings and a notable increase in one. The bank cut its position in Affiliated Managers Group (NYSE: AMG) by 26.9%, retaining 12,216 shares, and trimmed Cavco Industries (NASDAQ: CVCO) by 27.2%, leaving it with 6,931 shares. Its stake in Commerce Bancshares (NASDAQ: CBSH) saw the steepest reduction at 29.8%, bringing its holding to 70,002 shares, while its D-Wave Quantum (NASDAQ: QBTS) position fell 19.7% to 240,749 shares. Moving in the opposite direction, RBC raised its position in Artivion, Inc. (NYSE: AORT), a cardiac and vascular surgery device company, by 73.1%, acquiring 39,553 additional shares and bringing its total to 93,676 shares. 13F filings are quarterly disclosures required by the SEC for institutional investment managers holding more than $100 million in assets. They provide a snapshot of holdings as of the end of a quarter and are released with a 45-day delay, meaning they reflect positions as they stood at the end of March. All five reports were drawn from the same type of regulatory filing and published by the same financial news outlet, making this a routine disclosure-driven news cycle rather than a signal of any single strategic announcement by the bank.

Why it matters

Institutional 13F disclosures from large banks like RBC are closely watched by investors as indicators of shifting sentiment toward specific stocks or sectors. The moves affect shareholders and analysts tracking these five companies across asset management, construction, banking, medical devices, and quantum computing.

What's next

RBC's Q2 13F filing, due roughly 45 days after the end of June, will indicate whether these portfolio shifts continued or reversed.

Key facts

• RBC reduced its Commerce Bancshares stake by 29.8% — the largest percentage cut among the five stocks — to 70,002 shares
• RBC increased its Artivion (AORT) position by 73.1%, adding 39,553 shares for a total of 93,676 shares
• RBC's D-Wave Quantum holding fell 19.7% to 240,749 shares, the largest remaining position by share count
• RBC trimmed Cavco Industries by 27.2%, selling 2,585 shares and retaining 6,931
• All changes occurred during Q1 and were disclosed via SEC Form 13F filings
• All five reports were sourced from the same outlet (MarketBeat) covering the same filing type

Bias & framing notes

All five sources are from the same outlet (MarketBeat) and rely solely on SEC 13F filings, which are authoritative regulatory documents. The reporting is formulaic and factual, with no editorial framing differences between articles. No independent corroboration from other outlets is present, but the underlying data source — SEC filings — is a primary regulatory record.

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