The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
Report for the Calendar Year or Quarter Ended: 12-31-2020
Check here if Amendment    Amendment Number:
This Amendment (Check only one.):    is a restatement.
   adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Russell Investments Group, Ltd.
Address: 1301 Second Avenue
18th Floor
Seattle, WA  98101
Form 13F File Number: 028-17598

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Mark E. Swanson
Title: Global Head of Fund Services
Phone: 206-505-2086
Signature, Place, and Date of Signing:
/s/ Mark E. Swanson Seattle,  WA 02-08-2021
[Signature] [City, State] [Date]
Report Type (Check only one.):
X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
   13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
   13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 48
Form 13F Information Table Entry Total: 11,719
Form 13F Information Table Value Total: 50,521,979
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Form 13F File Number Name
1 28-06538 AEW Capital Management, L.P.
2 28-05990 Acadian Asset Management LLC
3 28-05049 Advent Capital Management, LLC
4 28-10005 Arrowstreet Capital, Limited Partnership
5 28-06437 Atlantic Investment Management, Inc.
6 28-05615 Axiom International Investors LLC
7 28-04825 Baillie Gifford & Co
8 28-00060 Barings LLC
9 28-01006 Barrow, Hanley, Mewhinney & Strauss, LLC
10 28-15566 BlackRock Asset Management North Asia Limited
11 28-12524 BlueBay Asset Management LLP
12 28-12484 Boston Partners Global Investors, Inc.
13 28-02204 Brandywine Global Investment Management, LLC
14 28-11166 Calamos Advisors LLC
15 28-07760 Cardinal Capital Management, LLC
16 28-02405 Cohen & Steers Capital Management, Inc.
17 28-05268 DePrince, Race & Zollo, Inc.
18 28-14036 Fiera Capital Corporation
19 28-04930 Fiera Capital Inc.
20 28-17876 GQG Partners LLC
21 28-17007 Hosking Partners LLP
22 28-13410 IMPAX ASSET MANAGEMENT LIMITED
23 28-04211 Intech Investment Management LLC
24 28-17109 Intermede Investment Partners Limited
25 28-16230 Jackson Square Partners, LLC
26 28-03059 Jacobs Levy Equity Management, Inc.
27 28-14858 Keywise Capital Management (HK) Limited
28 28-15794 Kopernik Global Investors LLC
29 28-19504 Levin Easterly Partners LLC
30 28-17488 Maple-Brown Abbott Limited
31 28-13243 Mar Vista Investment Partners, LLC
32 28-04383 Merian Global Investors (UK) Limited
33 28-11866 Morgan Stanley Investment Management Inc.
34 28-11867 Morgan Stanley Investment Management Limited
35 28-12634 Ninety One UK Limited
36 28-11946 Numeric Investors LLC
37 28-05050 Oaktree Capital Management, L.P.
38 28-15017 Old Mutual Customised Solutions
39 28-10527 Perkins Investment Management, LLC
40 28-11073 Polaris Capital Management, LLC
41 28-03791 Pzena Investment Management, LLC
42 28-04760 RREEF America L.L.C.
43 28-19400 RWC Asset Advisors (US) LLC
44 28-16205 Resolution Capital Limited
45 28-01096 Russell Investments Trust Company
46 28-14100 Sanders Capital, LLC
47 28-16279 Somerset Capital Management LLP
48 28-04557 Wellington Management Company LLP