Allianz Asset Management GmbH

Allianz Asset Management GmbH declares $40.7B in 161 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 33.0% of its $123.1B 13F portfolio. Largest positions: NVIDIA (0.12% of the company) and Alphabet (0.10% of the company). Over time: $40.7B in 161 of these companies for Q2 2026, against $21.3B in 127 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $5.9B and sold $2.2B of these stocks, at the quarter's prices: a net purchase of $3.7B; 18 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio Allianz Asset Management GmbH declared for Q2 2026 (Form 13F), held unchanged, returned +4.0% in Q3 2026 (SMH -7.1%), ranked 835 of 1,785 active managers. Over the last 12 months, quarter after quarter: +31.8% (SMH +87.2%), ranked 476 of 1,360 active managers. Over three years, quarter after quarter: +146.0% (SMH +325.8%), ranked 407 of 784 active managers. Over five years, quarter after quarter: +148.5% (SMH +389.8%), ranked 326 of 535 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): $6.0B, 30.1M shares, 0.12% of the company, 4.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Alphabet (GOOGL): $4.3B, 12.2M shares, 0.10% of the company, 3.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Apple (AAPL): $4.2B, 14.5M shares, 0.10% of the company, 3.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $3.0B, 8.1M shares, 0.11% of the company, 2.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN): $2.6B, 11.0M shares, 0.10% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Micron (MU): $1.6B, 1.4M shares, 0.13% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Applied Materials (AMAT): $1.4B, 2.0M shares, 0.25% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Broadcom (AVGO): $1.4B, 3.7M shares, 0.08% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Meta Platforms (META): $1.3B, 2.3M shares, 0.09% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Lam Research (LRCX): $1.2B, 2.7M shares, 0.22% of the company, 0.97% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Cisco (CSCO): $952.9M, 8.1M shares, 0.21% of the company, 0.77% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. KLA (KLAC): $572.1M, 1.9M shares, 0.15% of the company, 0.46% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. Cummins (CMI): $554.4M, 777,291 shares, 0.57% of the company, 0.45% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. TSMC (TSM): $507.1M, 1.1M shares, 0.02% of the company, 0.41% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. AMD (AMD): $475.8M, 819,011 shares, 0.05% of the company, 0.39% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $15.5B, 38% of its AI holdings, 6 companies
• Chips & compute: $10.5B, 26% of its AI holdings, 26 companies
• Equipment & test: $3.7B, 9% of its AI holdings, 17 companies
• Power, electrical & cooling: $2.8B, 7% of its AI holdings, 37 companies
• Memory & storage: $2.3B, 6% of its AI holdings, 6 companies
• AI software: $2.1B, 5% of its AI holdings, 22 companies
• Interconnect: $2.1B, 5% of its AI holdings, 8 companies
• Servers & systems: $958.3M, 2% of its AI holdings, 12 companies
• Neoclouds & data centers: $423.2M, 1% of its AI holdings, 16 companies
• Optics: $345.5M, 1% of its AI holdings, 11 companies

Biggest changes this quarter

• added to NVIDIA (NVDA): +$1.2B at the quarter's price
• added to Amazon (AMZN): +$619.0M at the quarter's price
• added to Apple (AAPL): +$521.6M at the quarter's price
• trimmed Qualcomm (QCOM): -$349.9M at the quarter's price
• added to Texas Instruments (TXN): +$338.5M at the quarter's price
• added to AMD (AMD): +$290.5M at the quarter's price
• added to Meta Platforms (META): +$263.3M at the quarter's price
• trimmed Micron (MU): -$256.2M at the quarter's price
• added to Alphabet (GOOGL): +$254.4M at the quarter's price
• added to Adobe (ADBE): +$222.2M at the quarter's price

Other holders of this size

• MANUFACTURERS LIFE INSURANCE COMPANY, THE: $40.3B in 209 of these companies
• Assenagon Asset Management S.A.: $40.9B in 152 of these companies
• Citadel: $39.3B in 213 of these companies
• Dodge & Cox: $42.6B in 32 of these companies
• Robeco Institutional Asset Management B.V.: $38.7B in 120 of these companies
• COATUE MANAGEMENT LLC: $42.7B in 28 of these companies
• NEW YORK STATE COMMON RETIREMENT FUND: $38.6B in 213 of these companies
• Susquehanna: $46.3B in 221 of these companies

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