Assenagon Asset Management S.A.

New 13F: Q3 2026

Assenagon Asset Management S.A. filed its 13F for the quarter ended Sep 30, 2026 on Oct 15, 2026: $54.2B in AI and semiconductor stocks; $15.3B bought and $4.2B sold against its previous quarter, at the quarter's prices.

• added to Micron (MU): +$2.8B at the quarter's price
• added to Amazon (AMZN): +$2.1B at the quarter's price
• added to Intel (INTC): +$1.7B at the quarter's price
• trimmed NVIDIA (NVDA): -$1.4B at the quarter's price
• added to Apple (AAPL): +$1.3B at the quarter's price
• added to Qualcomm (QCOM): +$1.2B at the quarter's price
• added to KLA (KLAC): +$771.9M at the quarter's price
• added to Texas Instruments (TXN): +$478.8M at the quarter's price
• added to Teradyne (TER): +$411.8M at the quarter's price
• trimmed Microsoft (MSFT): -$383.7M at the quarter's price

Assenagon Asset Management S.A. declares $40.9B in 152 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 51.0% of its $80.2B 13F portfolio. Largest positions: NVIDIA (0.11% of the company) and Apple (0.11% of the company). Over time: $40.9B in 152 of these companies for Q2 2026, against $3.8B in 63 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $8.1B and sold $6.7B of these stocks, at the quarter's prices: a net purchase of $1.3B; 17 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio Assenagon Asset Management S.A. declared for Q2 2026 (Form 13F), held unchanged, returned +5.5% in Q3 2026 (SMH -7.1%), ranked 523 of 1,785 active managers. Over the last 12 months, quarter after quarter: +34.7% (SMH +87.2%), ranked 380 of 1,360 active managers. Over three years, quarter after quarter: +168.9% (SMH +325.8%), ranked 186 of 784 active managers. Over five years, quarter after quarter: +172.5% (SMH +389.8%), ranked 174 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): $5.3B, 26.3M shares, 0.11% of the company, 6.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Apple (AAPL): $4.5B, 15.4M shares, 0.11% of the company, 5.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Amazon (AMZN): $4.3B, 17.8M shares, 0.16% of the company, 5.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Alphabet (GOOGL): $4.2B, 11.8M shares, 0.10% of the company, 5.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Microsoft (MSFT): $3.9B, 10.4M shares, 0.14% of the company, 4.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. AMD (AMD): $3.1B, 5.3M shares, 0.32% of the company, 3.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Intel (INTC): $2.3B, 16.2M shares, 0.30% of the company, 2.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Sandisk (SNDK): $1.4B, 621,849 shares, 0.44% of the company, 1.8% of its portfolio (new position this quarter)
9. Synopsys (SNPS): $1.1B, 2.5M shares, 1.3% of the company, 1.4% of its portfolio (added this quarter); held since Q3 2020
10. Broadcom (AVGO): $793.2M, 2.1M shares, 0.04% of the company, 0.99% of its portfolio (added this quarter); held since Q3 2021
11. Texas Instruments (TXN): $679.9M, 2.3M shares, 0.25% of the company, 0.85% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Meta Platforms (META): $625.3M, 1.1M shares, 0.04% of the company, 0.78% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. KLA (KLAC): $499.3M, 1.7M shares, 0.13% of the company, 0.62% of its portfolio (added this quarter); held since Q1 2021
14. TSMC (TSM): $490.5M, 1.0M shares, 0.02% of the company, 0.61% of its portfolio (new position this quarter)
15. Marvell (MRVL): $403.7M, 1.4M shares, 0.15% of the company, 0.50% of its portfolio (trimmed this quarter); held since Q3 2021

By sector

• Cloud & AI giants: $17.4B, 43% of its AI holdings, 6 companies
• Chips & compute: $13.9B, 34% of its AI holdings, 22 companies
• AI software: $3.2B, 8% of its AI holdings, 23 companies
• Power, electrical & cooling: $1.8B, 4% of its AI holdings, 35 companies
• Memory & storage: $1.7B, 4% of its AI holdings, 5 companies
• Equipment & test: $1.6B, 4% of its AI holdings, 17 companies
• Interconnect: $514.6M, 1% of its AI holdings, 10 companies
• Optics: $464.0M, 1% of its AI holdings, 10 companies
• Servers & systems: $250.0M, 1% of its AI holdings, 11 companies
• Neoclouds & data centers: $53.7M, 0% of its AI holdings, 13 companies

Biggest changes this quarter

• opened a position in Sandisk (SNDK): +$1.4B at the quarter's price
• trimmed Microsoft (MSFT): -$1.2B at the quarter's price
• added to NVIDIA (NVDA): +$1.2B at the quarter's price
• trimmed Applied Materials (AMAT): -$855.5M at the quarter's price
• added to Intel (INTC): +$705.6M at the quarter's price
• trimmed Lam Research (LRCX): -$692.0M at the quarter's price
• trimmed Teradyne (TER): -$681.2M at the quarter's price
• trimmed Amazon (AMZN): -$641.0M at the quarter's price
• opened a position in TSMC (TSM): +$490.5M at the quarter's price
• trimmed Lumentum (LITE): -$465.4M at the quarter's price

Other holders of this size

• Allianz Asset Management GmbH: $40.7B in 161 of these companies
• Dodge & Cox: $42.6B in 32 of these companies
• MANUFACTURERS LIFE INSURANCE COMPANY, THE: $40.3B in 209 of these companies
• COATUE MANAGEMENT LLC: $42.7B in 28 of these companies
• Citadel: $39.3B in 213 of these companies
• Susquehanna: $46.3B in 221 of these companies
• Robeco Institutional Asset Management B.V.: $38.7B in 120 of these companies
• Clearbridge Investments, LLC: $46.7B in 99 of these companies

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