London‑based RWC Asset Management filed a 13F‑HR on 2025‑10‑27 reporting the purchase of 255,473 shares of Macy’s, Inc., which increased its total position to 10.9 million shares valued at approximately $3.6 million. The acquisition was made during the third quarter of 2025 and coincided with Macy’s strong second‑quarter earnings and guidance, underscoring the asset manager’s confidence in the retailer’s turnaround strategy. With the new stake, Macy’s became RWC’s largest U.S. equity holding, ahead of Exelon and HP Inc., and represents 9.45 % of RWC’s reportable U.S. equity assets. The filing also noted a significant increase in RWC’s stake in Nio, adding roughly 2.7 million shares during the same quarter. Macy’s “Bold New Chapter” strategy, aimed at improving performance, was highlighted as a key factor in the investment decision.
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