Eurizon Capital SGR S.p.A.

New 13F: Q3 2026

Eurizon Capital SGR S.p.A. filed its 13F for the quarter ended Sep 30, 2026 on Nov 6, 2026: $19.8B in AI and semiconductor stocks; $1.1B bought and $998.6M sold against its previous quarter, at the quarter's prices.

• added to NVIDIA (NVDA): +$171.2M at the quarter's price
• trimmed Palo Alto Networks (PANW): -$138.2M at the quarter's price
• trimmed IBM (IBM): -$111.3M at the quarter's price
• trimmed Lam Research (LRCX): -$73.0M at the quarter's price
• added to AMD (AMD): +$71.8M at the quarter's price
• trimmed CrowdStrike (CRWD): -$71.8M at the quarter's price
• added to Palantir (PLTR): +$71.4M at the quarter's price
• added to Microsoft (MSFT): +$71.2M at the quarter's price
• trimmed Meta Platforms (META): -$70.4M at the quarter's price
• trimmed Marvell (MRVL): -$69.4M at the quarter's price

Eurizon Capital SGR S.p.A. declares $18.8B in 153 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 50.4% of its $37.3B 13F portfolio. Largest positions: NVIDIA (0.05% of the company) and Alphabet (0.05% of the company). Over time: $18.8B in 153 of these companies for Q2 2026, against $15.8B in 121 for Q4 2025 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.0B and sold $1.9B of these stocks, at the quarter's prices: a net sale of $875.8M; 12 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio Eurizon Capital SGR S.p.A. declared for Q2 2026 (Form 13F), held unchanged, returned +4.6% in Q3 2026 (SMH -7.1%), ranked 708 of 1,785 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): $2.6B, 13.0M shares, 0.05% of the company, 6.9% of its portfolio (trimmed this quarter); held since Q4 2025
2. Alphabet (GOOGL): $2.0B, 5.7M shares, 0.05% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2025
3. Apple (AAPL): $2.0B, 6.8M shares, 0.05% of the company, 5.3% of its portfolio (added this quarter); held since Q4 2025
4. Microsoft (MSFT): $1.6B, 4.3M shares, 0.06% of the company, 4.3% of its portfolio (added this quarter); held since Q4 2025
5. Amazon (AMZN): $1.2B, 4.9M shares, 0.05% of the company, 3.2% of its portfolio (added this quarter); held since Q4 2025
6. Broadcom (AVGO): $809.9M, 2.1M shares, 0.04% of the company, 2.2% of its portfolio (trimmed this quarter); held since Q4 2025
7. AMD (AMD): $680.2M, 1.2M shares, 0.07% of the company, 1.8% of its portfolio (added this quarter); held since Q4 2025
8. Micron (MU): $675.6M, 586,719 shares, 0.05% of the company, 1.8% of its portfolio (added this quarter); held since Q4 2025
9. Meta Platforms (META): $618.1M, 1.1M shares, 0.04% of the company, 1.7% of its portfolio (added this quarter); held since Q4 2025
10. Intel (INTC): $548.6M, 4.0M shares, 0.08% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2025
11. KLA (KLAC): $426.3M, 1.4M shares, 0.11% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025
12. Caterpillar (CAT): $404.2M, 382,287 shares, 0.08% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2025
13. Marvell (MRVL): $340.9M, 1.2M shares, 0.13% of the company, 0.91% of its portfolio (added this quarter); held since Q4 2025
14. Lam Research (LRCX): $297.9M, 690,734 shares, 0.06% of the company, 0.80% of its portfolio (trimmed this quarter); held since Q4 2025
15. Palo Alto Networks (PANW): $276.4M, 815,012 shares, 0.10% of the company, 0.74% of its portfolio (trimmed this quarter); held since Q4 2025

By sector

• Cloud & AI giants: $7.4B, 39% of its AI holdings, 6 companies
• Chips & compute: $5.8B, 31% of its AI holdings, 24 companies
• Power, electrical & cooling: $1.4B, 8% of its AI holdings, 41 companies
• AI software: $1.3B, 7% of its AI holdings, 23 companies
• Equipment & test: $953.2M, 5% of its AI holdings, 14 companies
• Memory & storage: $880.8M, 5% of its AI holdings, 5 companies
• Servers & systems: $359.2M, 2% of its AI holdings, 9 companies
• Interconnect: $340.6M, 2% of its AI holdings, 9 companies
• Optics: $197.3M, 1% of its AI holdings, 6 companies
• Neoclouds & data centers: $135.9M, 1% of its AI holdings, 16 companies

Biggest changes this quarter

• trimmed NVIDIA (NVDA): -$264.6M at the quarter's price
• trimmed Intel (INTC): -$253.9M at the quarter's price
• trimmed Broadcom (AVGO): -$205.6M at the quarter's price
• trimmed KLA (KLAC): -$184.2M at the quarter's price
• trimmed Lam Research (LRCX): -$168.7M at the quarter's price
• added to AMD (AMD): +$164.4M at the quarter's price
• added to Marvell (MRVL): +$134.5M at the quarter's price
• added to IBM (IBM): +$103.4M at the quarter's price
• added to Apple (AAPL): +$99.1M at the quarter's price
• trimmed Dell (DELL): -$95.2M at the quarter's price

Other holders of this size

• TRUIST FINANCIAL CORP: $18.5B in 173 of these companies
• APG Asset Management N.V.: $18.9B in 96 of these companies
• Darsana Capital Partners LP: $18.2B in 4 of these companies
• Man Group plc: $19.1B in 180 of these companies
• Handelsbanken Fonder AB: $18.0B in 162 of these companies
• DNB Asset Management AS: $19.2B in 170 of these companies
• Thrivent Financial for Lutherans: $17.9B in 175 of these companies
• STATE OF WISCONSIN INVESTMENT BOARD: $19.2B in 198 of these companies

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