DekaBank Deutsche Girozentrale

New 13F: Q3 2026

DekaBank Deutsche Girozentrale filed its 13F for the quarter ended Sep 30, 2026 on Oct 27, 2026: $41.8B in AI and semiconductor stocks; $13.4B bought and $1.8B sold against its previous quarter, at the quarter's prices.

• added to NVIDIA (NVDA): +$4.7B at the quarter's price
• added to Broadcom (AVGO): +$1.8B at the quarter's price
• added to Amazon (AMZN): +$1.1B at the quarter's price
• added to Microsoft (MSFT): +$906.8M at the quarter's price
• opened a position in Lam Research (LRCX): +$631.9M at the quarter's price
• added to ServiceNow (NOW): +$338.8M at the quarter's price
• added to Alphabet (GOOGL): +$304.7M at the quarter's price
• added to Meta Platforms (META): +$299.7M at the quarter's price
• added to Texas Instruments (TXN): +$236.5M at the quarter's price
• added to Apple (AAPL): +$231.3M at the quarter's price

DekaBank Deutsche Girozentrale declares $20.2B in 96 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 34.1% of its $59.2B 13F portfolio. Largest positions: Alphabet (0.11% of the company) and Apple (0.07% of the company). Over time: $20.2B in 96 of these companies for Q2 2026, against $3.8B in 97 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $115.8M and sold $290.6M of these stocks, at the quarter's prices: a net sale of $174.7M; 1 sold out.

Performance of its AI picks

The AI-stock portfolio DekaBank Deutsche Girozentrale declared for Q2 2026 (Form 13F), held unchanged, returned +8.8% in Q3 2026 (SMH -7.1%), ranked 189 of 1,785 active managers. Over the last 12 months, quarter after quarter: +34.5% (SMH +87.2%), ranked 385 of 1,360 active managers. Over three years, quarter after quarter: +146.0% (SMH +325.8%), ranked 408 of 784 active managers. Over five years, quarter after quarter: +161.3% (SMH +389.8%), ranked 253 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. Alphabet (GOOGL): $3.7B, 13.0M shares, 0.11% of the company, 6.3% of its portfolio; held since Q4 2019 or earlier
2. Apple (AAPL): $2.8B, 10.9M shares, 0.07% of the company, 4.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Microsoft (MSFT): $2.7B, 7.3M shares, 0.10% of the company, 4.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Amazon (AMZN): $2.0B, 9.5M shares, 0.09% of the company, 3.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
5. Meta Platforms (META): $1.3B, 2.3M shares, 0.09% of the company, 2.2% of its portfolio; held since Q4 2019 or earlier
6. Cisco (CSCO): $665.4M, 8.6M shares, 0.22% of the company, 1.1% of its portfolio; held since Q4 2019 or earlier
7. NVIDIA (NVDA): $527.8M, 3.2M shares, 0.01% of the company, 0.89% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. TSMC (TSM): $418.7M, 1.3M shares, 0.03% of the company, 0.71% of its portfolio; held since Q4 2019 or earlier
9. Accenture (ACN): $336.4M, 1.7M shares, 0.28% of the company, 0.57% of its portfolio; held since Q4 2019 or earlier
10. IBM (IBM): $319.5M, 1.4M shares, 0.14% of the company, 0.54% of its portfolio; held since Q4 2019 or earlier
11. Analog Devices (ADI): $316.7M, 999,243 shares, 0.21% of the company, 0.53% of its portfolio; held since Q4 2019 or earlier
12. Quanta Services (PWR): $282.8M, 517,038 shares, 0.34% of the company, 0.48% of its portfolio; held since Q4 2019 or earlier
13. Eaton (ETN): $230.6M, 673,631 shares, 0.17% of the company, 0.39% of its portfolio; held since Q4 2019 or earlier
14. Caterpillar (CAT): $230.5M, 326,603 shares, 0.07% of the company, 0.39% of its portfolio; held since Q4 2019 or earlier
15. Salesforce (CRM): $228.0M, 1.2M shares, 0.15% of the company, 0.39% of its portfolio; held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $12.4B, 61% of its AI holdings, 5 companies
• Chips & compute: $2.0B, 10% of its AI holdings, 17 companies
• Power, electrical & cooling: $1.9B, 10% of its AI holdings, 30 companies
• AI software: $1.8B, 9% of its AI holdings, 20 companies
• Interconnect: $806.6M, 4% of its AI holdings, 3 companies
• Neoclouds & data centers: $425.8M, 2% of its AI holdings, 9 companies
• Servers & systems: $388.0M, 2% of its AI holdings, 4 companies
• Equipment & test: $282.7M, 1% of its AI holdings, 5 companies
• Optics: $61.8M, 0% of its AI holdings, 2 companies
• Memory & storage: $36.0M, 0% of its AI holdings, 1 company

Biggest changes this quarter

• trimmed Amazon (AMZN): -$198.2M at the quarter's price
• added to NVIDIA (NVDA): +$115.0M at the quarter's price
• trimmed Microsoft (MSFT): -$90.6M at the quarter's price
• sold out of Arm Holdings (ARM): -$1.8M at the quarter's price
• added to Oracle (ORCL): +$541,271.00 at the quarter's price
• added to Apple (AAPL): +$252,830.00 at the quarter's price

Other holders of this size

• US BANCORP \DE\: $20.1B in 213 of these companies
• Corient Private Wealth LP: $20.3B in 185 of these companies
• FIFTH THIRD BANCORP: $20.1B in 207 of these companies
• Fayez Sarofim & Co: $20.3B in 54 of these companies
• Grantham, Mayo, Van Otterloo & Co. LLC: $20.0B in 71 of these companies
• PFA Pension, Forsikringsaktieselskab: $20.4B in 85 of these companies
• STOREBRAND ASSET MANAGEMENT AS: $20.0B in 107 of these companies
• Creative Planning: $20.5B in 213 of these companies

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