Erste Asset Management GmbH

New 13F: Q3 2026

Erste Asset Management GmbH filed its 13F for the quarter ended Sep 30, 2026 on Nov 12, 2026: $6.4B in AI and semiconductor stocks; $383.7M bought and $323.0M sold against its previous quarter, at the quarter's prices.

• added to Salesforce (CRM): +$47.3M at the quarter's price
• trimmed Meta Platforms (META): -$30.9M at the quarter's price
• added to Apple (AAPL): +$29.6M at the quarter's price
• trimmed TSMC (TSM): -$26.5M at the quarter's price
• added to Dell (DELL): +$26.0M at the quarter's price
• trimmed Broadcom (AVGO): -$25.9M at the quarter's price
• added to Lumentum (LITE): +$21.6M at the quarter's price
• added to Amazon (AMZN): +$19.7M at the quarter's price
• trimmed Applied Materials (AMAT): -$19.5M at the quarter's price
• added to ServiceNow (NOW): +$18.3M at the quarter's price

Erste Asset Management GmbH declares $5.8B in 87 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 45.0% of its $12.9B 13F portfolio. Largest positions: Alphabet (0.02% of the company) and NVIDIA (0.01% of the company). Over time: $5.8B in 87 of these companies for Q2 2026, against $480.9M in 44 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $709.0M and sold $601.7M of these stocks, at the quarter's prices: a net purchase of $107.3M; 12 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio Erste Asset Management GmbH declared for Q2 2026 (Form 13F), held unchanged, returned +2.4% in Q3 2026 (SMH -7.1%), ranked 1114 of 1,785 active managers. Over the last 12 months, quarter after quarter: +35.5% (SMH +87.2%), ranked 354 of 1,360 active managers. Over three years, quarter after quarter: +158.4% (SMH +325.8%), ranked 246 of 784 active managers. Over five years, quarter after quarter: +182.5% (SMH +389.8%), ranked 133 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): $678.2M, 1.9M shares, 0.02% of the company, 5.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. NVIDIA (NVDA): $673.5M, 3.4M shares, 0.01% of the company, 5.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Apple (AAPL): $558.6M, 2.0M shares, 0.01% of the company, 4.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $512.1M, 1.4M shares, 0.02% of the company, 4.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Broadcom (AVGO): $377.9M, 1.0M shares, 0.02% of the company, 2.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Lam Research (LRCX): $266.2M, 641,871 shares, 0.05% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Amazon (AMZN): $237.6M, 1.0M shares, 0.01% of the company, 1.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. KLA (KLAC): $209.9M, 731,834 shares, 0.06% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q2 2020
9. Micron (MU): $206.1M, 179,762 shares, 0.02% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q2 2020
10. Applied Materials (AMAT): $169.3M, 247,188 shares, 0.03% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Meta Platforms (META): $160.8M, 286,019 shares, 0.01% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Cisco (CSCO): $132.9M, 1.2M shares, 0.03% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Autodesk (ADSK): $110.3M, 565,616 shares, 0.27% of the company, 0.86% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Palo Alto Networks (PANW): $95.4M, 289,615 shares, 0.04% of the company, 0.74% of its portfolio (added this quarter); held since Q3 2022
15. TSMC (TSM): $94.0M, 206,836 shares, 0.00% of the company, 0.73% of its portfolio (trimmed this quarter); held since Q4 2020

By sector

• Cloud & AI giants: $2.1B, 37% of its AI holdings, 5 companies
• Chips & compute: $1.4B, 24% of its AI holdings, 11 companies
• Equipment & test: $667.7M, 12% of its AI holdings, 7 companies
• AI software: $571.0M, 10% of its AI holdings, 18 companies
• Power, electrical & cooling: $366.8M, 6% of its AI holdings, 20 companies
• Memory & storage: $248.2M, 4% of its AI holdings, 5 companies
• Interconnect: $226.5M, 4% of its AI holdings, 5 companies
• Servers & systems: $76.3M, 1% of its AI holdings, 4 companies
• Optics: $64.1M, 1% of its AI holdings, 5 companies
• Neoclouds & data centers: $43.0M, 1% of its AI holdings, 7 companies

Biggest changes this quarter

• added to Broadcom (AVGO): +$133.3M at the quarter's price
• added to Microsoft (MSFT): +$110.4M at the quarter's price
• trimmed Lam Research (LRCX): -$94.9M at the quarter's price
• trimmed Adobe (ADBE): -$59.4M at the quarter's price
• added to NVIDIA (NVDA): +$59.1M at the quarter's price
• trimmed KLA (KLAC): -$55.8M at the quarter's price
• trimmed Intuit (INTU): -$47.0M at the quarter's price
• added to Alphabet (GOOGL): +$44.9M at the quarter's price
• trimmed onsemi (ON): -$44.9M at the quarter's price
• added to Autodesk (ADSK): +$40.4M at the quarter's price

Other holders of this size

• Clark Capital Management Group, Inc.: $5.8B in 75 of these companies
• ABN AMRO INVESTMENT SOLUTIONS: $5.8B in 108 of these companies
• ZACKS INVESTMENT MANAGEMENT: $5.7B in 104 of these companies
• TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY: $5.9B in 166 of these companies
• CAPSTONE INVESTMENT ADVISORS, LLC: $5.7B in 104 of these companies
• Blackstone Inc.: $5.9B in 78 of these companies
• APPALOOSA LP: $5.7B in 15 of these companies
• B. Metzler seel. Sohn & Co. AG: $5.9B in 108 of these companies

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