Daiwa Securities Group Inc.

New 13F: Q3 2026

Daiwa Securities Group Inc. filed its 13F for the quarter ended Sep 30, 2026 on Oct 29, 2026: $28.0B in AI and semiconductor stocks; $3.2B bought and $3.6B sold against its previous quarter, at the quarter's prices.

• trimmed Microsoft (MSFT): -$1.6B at the quarter's price
• added to NVIDIA (NVDA): +$575.4M at the quarter's price
• trimmed Apple (AAPL): -$474.2M at the quarter's price
• added to Broadcom (AVGO): +$410.0M at the quarter's price
• added to Meta Platforms (META): +$362.7M at the quarter's price
• added to Oracle (ORCL): +$271.6M at the quarter's price
• added to Amazon (AMZN): +$261.6M at the quarter's price
• added to Alphabet (GOOGL): +$258.9M at the quarter's price
• added to Micron (MU): +$244.0M at the quarter's price
• trimmed Lam Research (LRCX): -$243.0M at the quarter's price

Daiwa Securities Group Inc. declares $26.4B in 140 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 51.7% of its $51.1B 13F portfolio. Largest positions: NVIDIA (0.08% of the company) and Microsoft (0.12% of the company). Over time: $26.4B in 140 of these companies for Q2 2026, against $1.6B in 82 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $4.4B and sold $1.3B of these stocks, at the quarter's prices: a net purchase of $3.1B; 9 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio Daiwa Securities Group Inc. declared for Q2 2026 (Form 13F), held unchanged, returned +7.9% in Q3 2026 (SMH -7.1%), ranked 238 of 1,785 active managers. Over the last 12 months, quarter after quarter: +28.1% (SMH +87.2%), ranked 715 of 1,360 active managers. Over three years, quarter after quarter: +140.1% (SMH +325.8%), ranked 474 of 784 active managers. Over five years, quarter after quarter: +154.3% (SMH +389.8%), ranked 297 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): $3.9B, 19.3M shares, 0.08% of the company, 7.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Microsoft (MSFT): $3.4B, 9.0M shares, 0.12% of the company, 6.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $2.8B, 7.7M shares, 0.06% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Apple (AAPL): $2.4B, 8.2M shares, 0.06% of the company, 4.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Broadcom (AVGO): $1.6B, 4.3M shares, 0.09% of the company, 3.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Amazon (AMZN): $1.5B, 6.2M shares, 0.06% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Micron (MU): $1.4B, 1.2M shares, 0.11% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Meta Platforms (META): $1.2B, 2.1M shares, 0.08% of the company, 2.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Palantir (PLTR): $856.4M, 7.3M shares, 0.30% of the company, 1.7% of its portfolio (added this quarter); held since Q2 2021
10. Digital Realty (DLR): $757.5M, 4.2M shares, 1.1% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Intel (INTC): $533.1M, 3.8M shares, 0.07% of the company, 1.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Lam Research (LRCX): $520.6M, 1.2M shares, 0.10% of the company, 1.0% of its portfolio (added this quarter); held since Q4 2024
13. Equinix (EQIX): $428.5M, 411,065 shares, 0.42% of the company, 0.84% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
14. Crown Castle (CCI): $356.3M, 4.7M shares, 1.1% of the company, 0.70% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Sandisk (SNDK): $334.0M, 146,908 shares, 0.10% of the company, 0.65% of its portfolio (added this quarter); held since Q4 2025

By sector

• Cloud & AI giants: $11.2B, 43% of its AI holdings, 6 companies
• Chips & compute: $7.1B, 27% of its AI holdings, 24 companies
• Neoclouds & data centers: $2.1B, 8% of its AI holdings, 14 companies
• Memory & storage: $1.9B, 7% of its AI holdings, 5 companies
• AI software: $1.6B, 6% of its AI holdings, 21 companies
• Equipment & test: $1.0B, 4% of its AI holdings, 13 companies
• Power, electrical & cooling: $957.0M, 4% of its AI holdings, 35 companies
• Interconnect: $294.8M, 1% of its AI holdings, 9 companies
• Servers & systems: $140.3M, 1% of its AI holdings, 7 companies
• Optics: $90.9M, 0% of its AI holdings, 6 companies

Biggest changes this quarter

• added to NVIDIA (NVDA): +$1.2B at the quarter's price
• added to Microsoft (MSFT): +$1.1B at the quarter's price
• trimmed Micron (MU): -$763.2M at the quarter's price
• added to Sandisk (SNDK): +$297.0M at the quarter's price
• added to Intel (INTC): +$264.9M at the quarter's price
• added to Apple (AAPL): +$264.7M at the quarter's price
• added to Meta Platforms (META): +$238.1M at the quarter's price
• added to IREN (IREN): +$192.3M at the quarter's price
• trimmed Iron Mountain (IRM): -$157.4M at the quarter's price
• added to Palantir (PLTR): +$131.0M at the quarter's price

Other holders of this size

• PUBLIC INVESTMENT FUND: $26.3B in 1 of these companies
• Clear Street Group Inc.: $26.8B in 87 of these companies
• ROYAL LONDON ASSET MANAGEMENT LTD: $26.3B in 110 of these companies
• NEW YORK STATE TEACHERS RETIREMENT SYSTEM: $27.0B in 152 of these companies
• JONES FINANCIAL COMPANIES LLLP: $26.1B in 221 of these companies
• Two Sigma: $27.0B in 220 of these companies
• Korea Investment CORP: $24.8B in 112 of these companies
• DANSKE BANK A/S: $27.1B in 130 of these companies

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