The top-performing FTSE 100 stocks of the year so far

By James Yardley on 25 March 2026 in UK

 Energy and defence companies have been among the biggest winners since geopolitical problems put the world on red alert. The share prices of many FTSE 100 giants have soared, due to global uncertainty and the recent strikes on Iran by the US and Israel. But it’s also been a busy year for mergers and acquisitions, with some of the biggest names in the blue-chip index agreeing to be taken over.

In this article, we reveal which stocks have enjoyed the strongest starts to the year*, the reasons for their success and the investment funds that hold them.

Beazley – up 55.8%

The specialist insurer has seen its stock price rise sharply after announcing it had agreed to be taken over by rival Zurich in a deal valuing it at £8.1 billion**. Beazley, which was founded in 1986 and underwrites more than US$6 billion in annual gross premiums, made a pre-tax profit of $1.14 billion (£894 million).

Beazley is one of the largest holdings in the Rathbone UK Opportunities fund***, a flexible portfolio targeting quality growth businesses. We’ve been very impressed by lead manager Alexandra Jackson and regard her as an exciting up-and-coming star of the fund industry.

Schroders – up 46.22%

Shares soared in early February 2026 after the asset management group announced it had agreed to a £9.9 billion takeover by a US investor****. In a statement, Dame Elizabeth Corley, the chair of Schroders, commented: “The board of Schroders is confident that this is the right step for our shareholders, clients and people.”

Schroders is held by the Janus Henderson UK Responsible Income fund^, which aims to provide an income and the potential for capital growth over the long term. It follows a common-sense approach that allows screens to filter the investment universe, followed by in-depth analysis on the remaining opportunities.

BAE Systems – up 39.50%

The UK aerospace and defence giant has enjoyed a near 40% rise in its share price and recently announced that sales were up 10% last year^^. Chief executive Charles Woodburn, said: “In a new era of defence spending, driven by escalating security challenges, we’re well positioned to provide both the advanced conventional systems and disruptive technologies needed to protect the nations we serve now and into the future.”

BAE is a holding in the City of London Investment Trust^^^, which was launched in 1891 and recently became the first to increase its dividend for 60 consecutive years. The trust’s aim is to provide growth in income and capital by investing mainly in large UK companies with international exposure.

Glencore – up 38.23%

A combination of the rebound in commodity markets and a strong operational performance has boosted the shares of this natural resource company. Gary Nagle, its chief executive, said: “We have a well-diversified business across a range of commodities, supported by one of the best marketing franchises in the industry.”

The Blackrock World Mining Trust, which offers exposure to mining and metals companies globally, is an investor in Glencore^^^. This trust is managed by one of the most experienced teams in this space, and we believe it’s well-positioned to tap into the global tailwinds driving this sector.

Shell – up 30.02%

The oil giant has seen its shares rise 30% due to strong energy markets, a solid financial performance and a $3.5 billion share buyback programme^^^^. Wael Sawan, Shell’s chief executive, said: “We generated free cash flow of $26 billion, made significant progress in focusing our portfolio and reached $5 billion of cost savings since 2022, with more to come.”

Plenty of funds have exposure to Shell, and one we like is Liontrust Special Situations^, a best-ideas portfolio that can invest in UK companies of any size. We believe this fund can be a great option for investors who want high-conviction, multi-cap exposure to the UK stock market.

Other winners

A string of other FTSE 100 companies have seen their share prices jump more than 20% over the past three months*. These include BP and SSE, both prominent energy businesses, along with Endeavour Mining, Coca-Cola, Centrica and National Grid*.

BP and Centrica are both holdings in the Jupiter UK Dynamic Equity fund^, which is run by the experienced Alex Savvides with a distinct contrarian, value-based approach.

SSE, seen as a winner of the UK’s energy transition, is held by Fidelity Special Values^^^, an investment trust that primarily invests in unloved UK companies.

Meanwhile, National Grid is a holding in the Rathbone Income fund***. This is a multi-cap UK equity income fund that focuses on companies with high-quality, visible earnings.

*Source: HL, data to 17 March 2026
**Source: Zurich Insurance Group, 2 March 2026
***Source: fund factsheet, 31 December 2025
****Source: Schroders, 12 February 2026
^Source: fund factsheet, 28 February 2026
^^Source: Reuters, 18 February 2026
^^^Source: fund factsheet, 31 January 2026
^^^^Source: Shell Q4 2025 Results, 5 February 2026