Invesco

New 13F: Q3 2026

Invesco filed its 13F for the quarter ended Sep 30, 2026 on Nov 12, 2026: $704.0B in AI and semiconductor stocks; $32.9B bought and $13.8B sold against its previous quarter, at the quarter's prices.

• added to SpaceX (SPCX): +$17.1B at the quarter's price
• trimmed NVIDIA (NVDA): -$2.0B at the quarter's price
• trimmed Broadcom (AVGO): -$1.9B at the quarter's price
• added to Intel (INTC): +$1.4B at the quarter's price
• added to Microsoft (MSFT): +$1.3B at the quarter's price
• added to Apple (AAPL): +$1.3B at the quarter's price
• added to Marvell (MRVL): +$896.1M at the quarter's price
• added to Qualcomm (QCOM): +$885.4M at the quarter's price
• added to Palo Alto Networks (PANW): +$644.3M at the quarter's price
• trimmed ASML (ASML): -$631.8M at the quarter's price

Invesco declares $683.3B in 220 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 54.0% of its $1.3T 13F portfolio. Largest positions: NVIDIA (1.4% of the company) and Alphabet (1.3% of the company). It is an index manager: its trades follow fund flows, so they are left out of the quarter's moves on /holders. Over time: $683.3B in 220 of these companies for Q2 2026, against $54.0B in 158 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $41.2B and sold $11.7B of these stocks, at the quarter's prices: a net purchase of $29.5B; 3 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio Invesco declared for Q2 2026 (Form 13F), held unchanged, returned +0.3% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +39.7% (SMH +87.2%). Over three years, quarter after quarter: +169.5% (SMH +325.8%). Over five years, quarter after quarter: +179.0% (SMH +389.8%). 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): $66.0B, 329.6M shares, 1.4% of the company, 5.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Alphabet (GOOGL): $56.0B, 157.5M shares, 1.3% of the company, 4.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. Apple (AAPL): $54.4B, 188.0M shares, 1.3% of the company, 4.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Micron (MU): $41.9B, 36.3M shares, 3.2% of the company, 3.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Microsoft (MSFT): $37.4B, 100.3M shares, 1.4% of the company, 3.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Amazon (AMZN): $34.3B, 143.9M shares, 1.3% of the company, 2.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. AMD (AMD): $30.9B, 53.2M shares, 3.2% of the company, 2.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Broadcom (AVGO): $26.1B, 69.2M shares, 1.4% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. Lam Research (LRCX): $22.7B, 52.3M shares, 4.2% of the company, 1.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Intel (INTC): $22.0B, 157.9M shares, 3.0% of the company, 1.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Meta Platforms (META): $21.6B, 38.4M shares, 1.5% of the company, 1.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Applied Materials (AMAT): $20.4B, 28.3M shares, 3.6% of the company, 1.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. Cisco (CSCO): $16.2B, 138.2M shares, 3.5% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
14. KLA (KLAC): $13.5B, 44.9M shares, 3.4% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Sandisk (SNDK): $12.8B, 5.6M shares, 3.9% of the company, 1.0% of its portfolio (added this quarter); held since Q1 2025

By sector

• Cloud & AI giants: $204.4B, 30% of its AI holdings, 6 companies
• Chips & compute: $198.3B, 29% of its AI holdings, 38 companies
• Equipment & test: $73.8B, 11% of its AI holdings, 26 companies
• Memory & storage: $72.4B, 11% of its AI holdings, 7 companies
• AI software: $48.9B, 7% of its AI holdings, 31 companies
• Power, electrical & cooling: $37.0B, 5% of its AI holdings, 47 companies
• Interconnect: $23.6B, 3% of its AI holdings, 11 companies
• Optics: $9.2B, 1% of its AI holdings, 11 companies
• Neoclouds & data centers: $8.8B, 1% of its AI holdings, 31 companies
• Servers & systems: $7.0B, 1% of its AI holdings, 12 companies

Biggest changes this quarter

• added to Sandisk (SNDK): +$10.1B at the quarter's price
• trimmed Dell (DELL): -$2.5B at the quarter's price
• added to Arm Holdings (ARM): +$2.5B at the quarter's price
• added to Astera Labs (ALAB): +$2.2B at the quarter's price
• added to Teradyne (TER): +$2.0B at the quarter's price
• added to Lumentum (LITE): +$1.7B at the quarter's price
• added to AMD (AMD): +$1.6B at the quarter's price
• added to Nebius (NBIS): +$1.4B at the quarter's price
• added to Applied Materials (AMAT): +$1.4B at the quarter's price
• added to Amazon (AMZN): +$1.2B at the quarter's price

Schedule 13D/G declarations

• Cognizant (CTSH): 13G filed Nov 10, 2026: 14.6M shares as of Sep 30, 2026, 3.2% as declared
• HIVE Digital (HIVE): 13G filed Nov 10, 2026: 14.5M shares as of Sep 30, 2026, 5.3% as declared
• MKS (MKSI): 13G filed Nov 10, 2026: 2.4M shares as of Sep 30, 2026, 3.5% as declared
• Monolithic Power (MPWR): 13G filed Nov 10, 2026: 2.4M shares as of Sep 30, 2026, 4.8% as declared
• Penguin Solutions (PENG): 13G filed Nov 10, 2026: 3.3M shares as of Sep 30, 2026, 6.3% as declared
• Wolfspeed (WOLF): 13G filed Nov 10, 2026: 3.1M shares as of Sep 30, 2026, 5.8% as declared
• Allegro MicroSystems (ALGM): 13G filed Aug 13, 2026: 13.7M shares as of Jun 30, 2026, 7.3% as declared
• EPAM (EPAM): 13G filed Aug 13, 2026: 2.4M shares as of Jun 30, 2026, 4.6% as declared
• HIVE Digital (HIVE): 13G filed Aug 13, 2026: 17.0M shares as of Jun 30, 2026, 6.4% as declared
• Ichor (ICHR): 13G filed Aug 13, 2026: 2.9M shares as of Jun 30, 2026, 8.4% as declared

Other holders of this size

• Morgan Stanley: $627.0B in 227 of these companies
• JPMorgan: $717.8B in 225 of these companies
• T. Rowe Price: $529.7B in 215 of these companies
• Capital Group: $881.7B in 132 of these companies
• Norges Bank: $478.8B in 161 of these companies
• Geode Capital: $890.9B in 220 of these companies
• UBS: $462.8B in 227 of these companies
• Fidelity (FMR): $1.2T in 223 of these companies

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