DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main declares $61.5B in 123 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 47.1% of its $130.4B 13F portfolio. Largest positions: NVIDIA (0.19% of the company) and Alphabet (0.16% of the company). Over time: $61.5B in 123 of these companies for Q2 2026, against $8.9B in 59 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $4.7B and sold $8.6B of these stocks, at the quarter's prices: a net sale of $3.9B; 5 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main declared for Q2 2026 (Form 13F), held unchanged, returned +3.3% in Q3 2026 (SMH -7.1%), ranked 967 of 1,785 active managers. Over the last 12 months, quarter after quarter: +32.4% (SMH +87.2%), ranked 456 of 1,360 active managers. Over three years, quarter after quarter: +170.0% (SMH +325.8%), ranked 179 of 784 active managers. Over five years, quarter after quarter: +186.8% (SMH +389.8%), ranked 115 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): $9.3B, 46.3M shares, 0.19% of the company, 7.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Alphabet (GOOGL): $7.1B, 19.9M shares, 0.16% of the company, 5.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Apple (AAPL): $6.2B, 21.4M shares, 0.15% of the company, 4.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Amazon (AMZN): $4.6B, 19.3M shares, 0.18% of the company, 3.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Microsoft (MSFT): $4.3B, 11.6M shares, 0.16% of the company, 3.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Applied Materials (AMAT): $3.1B, 4.3M shares, 0.54% of the company, 2.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Broadcom (AVGO): $2.6B, 7.0M shares, 0.15% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Arm Holdings (ARM): $2.3B, 6.5M shares, 0.61% of the company, 1.8% of its portfolio (trimmed this quarter); held since Q3 2023
9. Seagate (STX): $2.0B, 2.1M shares, 0.92% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q3 2025
10. Micron (MU): $1.5B, 1.3M shares, 0.12% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Meta Platforms (META): $1.2B, 2.2M shares, 0.09% of the company, 0.95% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. AMD (AMD): $1.1B, 1.9M shares, 0.11% of the company, 0.84% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. Lam Research (LRCX): $1.0B, 2.3M shares, 0.19% of the company, 0.78% of its portfolio (added this quarter); held since Q4 2024
14. Intel (INTC): $1.0B, 7.2M shares, 0.13% of the company, 0.77% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Quanta Services (PWR): $960.1M, 1.3M shares, 0.88% of the company, 0.74% of its portfolio (trimmed this quarter); held since Q2 2021

By sector

• Cloud & AI giants: $23.6B, 38% of its AI holdings, 6 companies
• Chips & compute: $18.4B, 30% of its AI holdings, 15 companies
• Equipment & test: $4.7B, 8% of its AI holdings, 8 companies
• AI software: $4.1B, 7% of its AI holdings, 19 companies
• Power, electrical & cooling: $4.0B, 7% of its AI holdings, 30 companies
• Memory & storage: $3.9B, 6% of its AI holdings, 5 companies
• Interconnect: $1.7B, 3% of its AI holdings, 7 companies
• Optics: $620.6M, 1% of its AI holdings, 4 companies
• Servers & systems: $302.6M, 0% of its AI holdings, 8 companies
• Neoclouds & data centers: $228.4M, 0% of its AI holdings, 21 companies

Biggest changes this quarter

• trimmed Seagate (STX): -$1.5B at the quarter's price
• trimmed Arm Holdings (ARM): -$1.0B at the quarter's price
• trimmed Arista Networks (ANET): -$943.7M at the quarter's price
• trimmed Meta Platforms (META): -$891.8M at the quarter's price
• added to Intel (INTC): +$733.4M at the quarter's price
• added to AMD (AMD): +$695.7M at the quarter's price
• trimmed Quanta Services (PWR): -$627.1M at the quarter's price
• added to Alphabet (GOOGL): +$618.5M at the quarter's price
• trimmed NVIDIA (NVDA): -$604.1M at the quarter's price
• added to Amazon (AMZN): +$529.7M at the quarter's price

Other holders of this size

• NVIDIA Corporation: $61.2B in 6 of these companies
• NORDEA INVESTMENT MANAGEMENT AB: $61.6B in 137 of these companies
• Mirae Asset: $61.2B in 216 of these companies
• RHUMBLINE ADVISERS: $61.8B in 219 of these companies
• FIRST TRUST ADVISORS LP: $60.8B in 201 of these companies
• PRINCIPAL FINANCIAL GROUP INC: $63.9B in 181 of these companies
• Sanders Capital, LLC: $60.1B in 11 of these companies
• SCHRODER INVESTMENT MANAGEMENT GROUP: $64.6B in 124 of these companies

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