Jane Street

New 13F: Q3 2026

Jane Street filed its 13F for the quarter ended Sep 30, 2026 on Nov 12, 2026: $33.5B in AI and semiconductor stocks; $10.6B bought and $27.5B sold against its previous quarter, at the quarter's prices.

• added to NVIDIA (NVDA): +$2.7B at the quarter's price
• added to Alphabet (GOOGL): +$2.0B at the quarter's price
• added to Broadcom (AVGO): +$1.7B at the quarter's price
• trimmed Sandisk (SNDK): -$1.4B at the quarter's price
• trimmed Seagate (STX): -$1.2B at the quarter's price
• trimmed Palantir (PLTR): -$1.2B at the quarter's price
• trimmed Super Micro Computer (SMCI): -$1.1B at the quarter's price
• trimmed CoreWeave (CRWV): -$1.1B at the quarter's price
• trimmed Meta Platforms (META): -$1.1B at the quarter's price
• trimmed Dell (DELL): -$1.0B at the quarter's price

Jane Street declares $51.3B in 199 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 4.3% of its $1.2T 13F portfolio. Largest positions: Amazon (0.13% of the company) and Sandisk (0.81% of the company). It is a market maker: its positions are mostly hedges, so they are left out of the quarter's moves on /holders. Over time: $51.3B in 199 of these companies for Q2 2026, against $2.3B in 106 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $30.3B and sold $16.7B of these stocks, at the quarter's prices: a net purchase of $13.5B; 15 new positions and 13 sold out.

Performance of its AI picks

The AI-stock portfolio Jane Street declared for Q2 2026 (Form 13F), held unchanged, returned -1.8% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +76.7% (SMH +87.2%). Over three years, quarter after quarter: +355.5% (SMH +325.8%). Over five years, quarter after quarter: +380.0% (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. Amazon (AMZN): $3.4B, 14.3M shares, 0.13% of the company, 0.28% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Sandisk (SNDK): $2.6B, 1.2M shares, 0.81% of the company, 0.22% of its portfolio (trimmed this quarter); held since Q1 2025
3. NVIDIA (NVDA): $2.4B, 11.8M shares, 0.05% of the company, 0.20% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $1.7B, 4.5M shares, 0.06% of the company, 0.14% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Seagate (STX): $1.4B, 1.5M shares, 0.64% of the company, 0.12% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. CoreWeave (CRWV): $1.4B, 13.9M shares, 2.5% of the company, 0.11% of its portfolio (added this quarter); held since Q1 2025
7. Meta Platforms (META): $1.3B, 2.3M shares, 0.09% of the company, 0.11% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Bloom Energy (BE): $1.3B, 4.2M shares, 1.4% of the company, 0.10% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. Apple (AAPL): $1.1B, 3.9M shares, 0.03% of the company, 0.09% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Cisco (CSCO): $1.1B, 9.3M shares, 0.24% of the company, 0.09% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Intel (INTC): $1.0B, 7.3M shares, 0.14% of the company, 0.08% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Dell (DELL): $1.0B, 2.3M shares, 0.36% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Palantir (PLTR): $974.5M, 8.4M shares, 0.35% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q3 2020
14. AMD (AMD): $944.8M, 1.6M shares, 0.10% of the company, 0.08% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Alphabet (GOOGL): $921.4M, 2.6M shares, 0.02% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Chips & compute: $9.9B, 19% of its AI holdings, 32 companies
• Cloud & AI giants: $8.5B, 17% of its AI holdings, 6 companies
• Power, electrical & cooling: $5.9B, 12% of its AI holdings, 41 companies
• AI software: $5.9B, 12% of its AI holdings, 28 companies
• Memory & storage: $5.9B, 12% of its AI holdings, 5 companies
• Servers & systems: $4.3B, 8% of its AI holdings, 12 companies
• Neoclouds & data centers: $4.1B, 8% of its AI holdings, 26 companies
• Equipment & test: $2.6B, 5% of its AI holdings, 25 companies
• Interconnect: $2.5B, 5% of its AI holdings, 11 companies
• Optics: $1.6B, 3% of its AI holdings, 13 companies

Biggest changes this quarter

• trimmed Marvell (MRVL): -$2.6B at the quarter's price
• added to Amazon (AMZN): +$2.4B at the quarter's price
• added to NVIDIA (NVDA): +$2.1B at the quarter's price
• trimmed Dell (DELL): -$1.6B at the quarter's price
• added to Microsoft (MSFT): +$1.6B at the quarter's price
• trimmed Broadcom (AVGO): -$1.5B at the quarter's price
• trimmed Sandisk (SNDK): -$1.4B at the quarter's price
• added to Seagate (STX): +$1.4B at the quarter's price
• trimmed Micron (MU): -$1.2B at the quarter's price
• added to Meta Platforms (META): +$1.1B at the quarter's price

Schedule 13D/G declarations

• Aehr Test Systems (AEHR): 13G filed Nov 10, 2026: 1.7M shares as of Nov 4, 2026, 5.1% as declared
• AXT (AXTI): 13G filed Nov 9, 2026: 4.2M shares as of Nov 3, 2026, 6.5% as declared
• Cipher Mining (CIFR): 13G filed Oct 21, 2026: 22.4M shares as of Oct 15, 2026, 5.4% as declared
• POET Technologies (POET): 13G filed Nov 12, 2026: 13.3M shares as of Sep 30, 2026, 7.7% as declared
• Oklo (OKLO): 13G filed Nov 12, 2026: 9.5M shares as of Sep 30, 2026, 5.1% as declared
• Aehr Test Systems (AEHR): 13G filed Nov 6, 2026: 1.1M shares as of Sep 30, 2026, 3.3% as declared
• AXT (AXTI): 13G filed Nov 6, 2026: 2.8M shares as of Sep 30, 2026, 4.2% as declared
• Bloom Energy (BE): 13G filed Nov 6, 2026: 7.0M shares as of Sep 30, 2026, 2.4% as declared
• TSS (TSSI): 13G filed Nov 6, 2026: 408,982 shares as of Sep 30, 2026, 1.5% as declared
• Bitdeer (BTDR): 13G filed Nov 6, 2026: 5.2M shares as of Sep 30, 2026, 2.3% as declared

Other holders of this size

• PICTET ASSET MANAGEMENT SA: $49.7B in 203 of these companies
• NATIONAL BANK OF CANADA /FI/: $52.0B in 168 of these companies
• BNP PARIBAS ASSET MANAGEMENT Holding S.A.: $49.3B in 204 of these companies
• ENVESTNET ASSET MANAGEMENT INC: $52.0B in 202 of these companies
• D. E. Shaw: $48.7B in 205 of these companies
• STATE FARM MUTUAL AUTOMOBILE INSURANCE CO: $52.5B in 19 of these companies
• Russell Investments Group, Ltd.: $48.5B in 221 of these companies
• CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM: $52.5B in 205 of these companies

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