AXIOM INVESTORS LLC /DE

New 13F: Q3 2026

AXIOM INVESTORS LLC /DE filed its 13F for the quarter ended Sep 30, 2026 on Nov 12, 2026: $7.1B in AI and semiconductor stocks; $362.7M bought and $815.7M sold against its previous quarter, at the quarter's prices.

• added to AMD (AMD): +$173.1M at the quarter's price
• trimmed Lumentum (LITE): -$161.0M at the quarter's price
• trimmed Micron (MU): -$151.3M at the quarter's price
• trimmed ASML (ASML): -$100.6M at the quarter's price
• trimmed Apple (AAPL): -$84.9M at the quarter's price
• trimmed GE Vernova (GEV): -$69.1M at the quarter's price
• trimmed Broadcom (AVGO): -$48.7M at the quarter's price
• added to Cisco (CSCO): +$46.6M at the quarter's price
• added to Alphabet (GOOGL): +$42.5M at the quarter's price
• trimmed Tower Semiconductor (TSEM): -$41.7M at the quarter's price

AXIOM INVESTORS LLC /DE declares $7.7B in 43 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 66.6% of its $11.6B 13F portfolio. Largest positions: NVIDIA (0.03% of the company) and Alphabet (0.03% of the company). Over time: $7.7B in 43 of these companies for Q2 2026, against $1.3B in 15 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $2.2B and sold $1.3B of these stocks, at the quarter's prices: a net purchase of $831.8M; 12 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio AXIOM INVESTORS LLC /DE declared for Q2 2026 (Form 13F), held unchanged, returned -1.7% in Q3 2026 (SMH -7.1%), ranked 1411 of 1,785 active managers. Over the last 12 months, quarter after quarter: +11.9% (SMH +87.2%), ranked 1302 of 1,360 active managers. Over three years, quarter after quarter: +140.6% (SMH +325.8%), ranked 466 of 784 active managers. Over five years, quarter after quarter: +135.6% (SMH +389.8%), ranked 391 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): $1.3B, 6.5M shares, 0.03% of the company, 11.3% of its portfolio (trimmed this quarter); held since Q1 2020
2. Alphabet (GOOGL): $1.1B, 3.2M shares, 0.03% of the company, 9.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. ASML (ASML): $864.9M, 434,755 shares, 0.11% of the company, 7.5% of its portfolio (added this quarter); held since Q1 2026
4. Micron (MU): $680.0M, 589,089 shares, 0.05% of the company, 5.9% of its portfolio (added this quarter); held since Q1 2026
5. Amazon (AMZN): $655.7M, 2.8M shares, 0.03% of the company, 5.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. AMD (AMD): $510.8M, 879,325 shares, 0.05% of the company, 4.4% of its portfolio (new position this quarter)
7. GE Vernova (GEV): $482.9M, 411,058 shares, 0.16% of the company, 4.2% of its portfolio (added this quarter); held since Q4 2024
8. TSMC (TSM): $429.6M, 899,501 shares, 0.02% of the company, 3.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Lumentum (LITE): $348.8M, 406,459 shares, 0.45% of the company, 3.0% of its portfolio (added this quarter); held since Q1 2026
10. Apple (AAPL): $182.7M, 631,399 shares, 0.00% of the company, 1.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Broadcom (AVGO): $153.7M, 406,798 shares, 0.01% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q2 2025
12. Tower Semiconductor (TSEM): $136.5M, 523,887 shares, 0.47% of the company, 1.2% of its portfolio (new position this quarter)
13. STMicroelectronics (STM): $132.4M, 1.8M shares, 0.20% of the company, 1.1% of its portfolio (new position this quarter)
14. Teradyne (TER): $121.7M, 251,481 shares, 0.16% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q1 2026
15. EMCOR (EME): $82.8M, 99,778 shares, 0.23% of the company, 0.72% of its portfolio (new position this quarter)

By sector

• Chips & compute: $2.7B, 35% of its AI holdings, 9 companies
• Cloud & AI giants: $2.0B, 26% of its AI holdings, 4 companies
• Equipment & test: $1.1B, 14% of its AI holdings, 5 companies
• Memory & storage: $686.9M, 9% of its AI holdings, 2 companies
• Power, electrical & cooling: $672.0M, 9% of its AI holdings, 10 companies
• Optics: $401.1M, 5% of its AI holdings, 8 companies
• Interconnect: $152.6M, 2% of its AI holdings, 3 companies
• Servers & systems: $37.7M, 0% of its AI holdings, 2 companies

Biggest changes this quarter

• trimmed Amphenol (APH): -$684.8M at the quarter's price
• opened a position in AMD (AMD): +$510.8M at the quarter's price
• added to Micron (MU): +$451.2M at the quarter's price
• added to Lumentum (LITE): +$347.3M at the quarter's price
• added to GE Vernova (GEV): +$155.6M at the quarter's price
• sold out of Microsoft (MSFT): -$137.3M at the quarter's price
• opened a position in Tower Semiconductor (TSEM): +$136.5M at the quarter's price
• opened a position in STMicroelectronics (STM): +$132.4M at the quarter's price
• trimmed NVIDIA (NVDA): -$120.5M at the quarter's price
• trimmed Alphabet (GOOGL): -$117.4M at the quarter's price

Other holders of this size

• MML INVESTORS SERVICES, LLC: $7.7B in 177 of these companies
• NewEdge Advisors, LLC: $7.7B in 207 of these companies
• NATIXIS: $7.6B in 116 of these companies
• Marex Group plc: $7.8B in 152 of these companies
• BARROW HANLEY MEWHINNEY & STRAUSS LLC: $7.6B in 42 of these companies
• USS Investment Management Ltd: $7.8B in 128 of these companies
• GQG Partners LLC: $7.5B in 18 of these companies
• Aristotle Capital Management, LLC: $7.8B in 18 of these companies

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