AEGON ASSET MANAGEMENT UK Plc

New 13F: Q3 2026

AEGON ASSET MANAGEMENT UK Plc filed its 13F for the quarter ended Sep 30, 2026 on Nov 4, 2026: $5.5B in AI and semiconductor stocks; $326.8M bought and $384.2M sold against its previous quarter, at the quarter's prices.

• added to Palantir (PLTR): +$54.8M at the quarter's price
• trimmed Broadcom (AVGO): -$48.2M at the quarter's price
• trimmed Apple (AAPL): -$46.0M at the quarter's price
• added to Alphabet (GOOGL): +$44.7M at the quarter's price
• sold out of Oracle (ORCL): -$42.0M at the quarter's price
• opened a position in Dell (DELL): +$39.9M at the quarter's price
• trimmed Cummins (CMI): -$34.2M at the quarter's price
• trimmed ServiceNow (NOW): -$34.2M at the quarter's price
• opened a position in Sandisk (SNDK): +$33.9M at the quarter's price
• added to AMD (AMD): +$31.6M at the quarter's price

AEGON ASSET MANAGEMENT UK Plc declares $5.3B in 39 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 56.6% of its $9.4B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Apple (0.01% of the company). Over time: $5.3B in 39 of these companies for Q2 2026, against $1.3B in 25 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $551.5M and sold $287.7M of these stocks, at the quarter's prices: a net purchase of $263.8M; 8 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio AEGON ASSET MANAGEMENT UK Plc declared for Q2 2026 (Form 13F), held unchanged, returned +4.7% in Q3 2026 (SMH -7.1%), ranked 679 of 1,785 active managers. Over the last 12 months, quarter after quarter: +27.8% (SMH +87.2%), ranked 736 of 1,360 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. NVIDIA (NVDA): $637.2M, 3.2M shares, 0.01% of the company, 6.8% of its portfolio (added this quarter); held since Q1 2021
2. Apple (AAPL): $587.0M, 2.0M shares, 0.01% of the company, 6.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $554.7M, 1.6M shares, 0.01% of the company, 5.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $526.2M, 1.4M shares, 0.02% of the company, 5.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Broadcom (AVGO): $459.6M, 1.2M shares, 0.03% of the company, 4.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Amazon (AMZN): $346.9M, 1.5M shares, 0.01% of the company, 3.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Micron (MU): $291.0M, 252,108 shares, 0.02% of the company, 3.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. TSMC (TSM): $242.4M, 507,542 shares, 0.01% of the company, 2.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. KLA (KLAC): $233.2M, 772,965 shares, 0.06% of the company, 2.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
10. Meta Platforms (META): $159.8M, 283,604 shares, 0.01% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q1 2023
11. Texas Instruments (TXN): $137.4M, 461,092 shares, 0.05% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Cummins (CMI): $134.2M, 188,201 shares, 0.14% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2020
13. Eaton (ETN): $113.0M, 265,250 shares, 0.07% of the company, 1.2% of its portfolio (new position this quarter)
14. Intel (INTC): $109.7M, 785,558 shares, 0.01% of the company, 1.2% of its portfolio (added this quarter); held since Q1 2026
15. Lam Research (LRCX): $92.6M, 213,677 shares, 0.02% of the company, 0.99% of its portfolio (added this quarter); held since Q3 2025

By sector

• Cloud & AI giants: $2.2B, 41% of its AI holdings, 5 companies
• Chips & compute: $1.7B, 31% of its AI holdings, 8 companies
• Power, electrical & cooling: $331.1M, 6% of its AI holdings, 6 companies
• Equipment & test: $325.8M, 6% of its AI holdings, 2 companies
• Memory & storage: $294.5M, 6% of its AI holdings, 2 companies
• AI software: $292.8M, 6% of its AI holdings, 11 companies
• Interconnect: $186.4M, 4% of its AI holdings, 3 companies
• Neoclouds & data centers: $34.1M, 1% of its AI holdings, 2 companies

Biggest changes this quarter

• opened a position in Eaton (ETN): +$113.0M at the quarter's price
• added to Apple (AAPL): +$100.2M at the quarter's price
• added to Intel (INTC): +$70.6M at the quarter's price
• added to NVIDIA (NVDA): +$58.4M at the quarter's price
• opened a position in Caterpillar (CAT): +$50.2M at the quarter's price
• trimmed Amazon (AMZN): -$44.6M at the quarter's price
• trimmed Alphabet (GOOGL): -$34.3M at the quarter's price
• added to Lam Research (LRCX): +$31.1M at the quarter's price
• added to Microsoft (MSFT): +$29.5M at the quarter's price
• opened a position in MongoDB (MDB): +$29.4M at the quarter's price

Other holders of this size

• SCGE MANAGEMENT, L.P.: $5.3B in 15 of these companies
• AE Wealth Management LLC: $5.3B in 140 of these companies
• Mawer Investment Management Ltd.: $5.3B in 26 of these companies
• ARK Investment Management LLC: $5.3B in 30 of these companies
• Utah Retirement Systems: $5.2B in 147 of these companies
• Steward Partners Investment Advisory, LLC: $5.4B in 201 of these companies
• Penserra Capital Management LLC: $5.2B in 139 of these companies
• Kestra Advisory Services, LLC: $5.4B in 166 of these companies

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