JUPITER ASSET MANAGEMENT LTD

New 13F: Q3 2026

JUPITER ASSET MANAGEMENT LTD filed its 13F for the quarter ended Sep 30, 2026 on Nov 10, 2026: $7.4B in AI and semiconductor stocks; $1.3B bought and $750.1M sold against its previous quarter, at the quarter's prices.

• trimmed Salesforce (CRM): -$227.0M at the quarter's price
• added to NVIDIA (NVDA): +$198.8M at the quarter's price
• added to Vertiv (VRT): +$162.3M at the quarter's price
• added to Comfort Systems USA (FIX): +$145.6M at the quarter's price
• added to Micron (MU): +$136.6M at the quarter's price
• added to Applied Materials (AMAT): +$110.4M at the quarter's price
• added to Adobe (ADBE): +$96.7M at the quarter's price
• sold out of NextEra Energy (NEE): -$75.9M at the quarter's price
• sold out of Lam Research (LRCX): -$68.6M at the quarter's price
• added to Sandisk (SNDK): +$58.5M at the quarter's price

JUPITER ASSET MANAGEMENT LTD declares $6.4B in 60 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 31.7% of its $20.2B 13F portfolio. Largest positions: Alphabet (0.02% of the company) and NVIDIA (0.02% of the company). Over time: $6.4B in 60 of these companies for Q2 2026, against $128.0M in 14 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.1B and sold $852.7M of these stocks, at the quarter's prices: a net purchase of $201.5M; 25 new positions and 5 sold out.

Performance of its AI picks

The AI-stock portfolio JUPITER ASSET MANAGEMENT LTD declared for Q2 2026 (Form 13F), held unchanged, returned +6.2% in Q3 2026 (SMH -7.1%), ranked 413 of 1,785 active managers. Over the last 12 months, quarter after quarter: +31.4% (SMH +87.2%), ranked 490 of 1,360 active managers. Over three years, quarter after quarter: +147.8% (SMH +325.8%), ranked 381 of 784 active managers. Over five years, quarter after quarter: +155.2% (SMH +389.8%), ranked 289 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): $836.5M, 2.4M shares, 0.02% of the company, 4.2% of its portfolio (trimmed this quarter); held since Q2 2020
2. NVIDIA (NVDA): $815.6M, 4.1M shares, 0.02% of the company, 4.0% of its portfolio (added this quarter); held since Q2 2020
3. Broadcom (AVGO): $599.6M, 1.6M shares, 0.03% of the company, 3.0% of its portfolio (added this quarter); held since Q2 2023
4. Apple (AAPL): $543.3M, 1.9M shares, 0.01% of the company, 2.7% of its portfolio (added this quarter); held since Q2 2020
5. Microsoft (MSFT): $540.7M, 1.5M shares, 0.02% of the company, 2.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Amazon (AMZN): $496.4M, 2.1M shares, 0.02% of the company, 2.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Micron (MU): $235.6M, 204,104 shares, 0.02% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q3 2025
8. Texas Instruments (TXN): $197.1M, 685,377 shares, 0.07% of the company, 0.98% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. Salesforce (CRM): $190.7M, 1.2M shares, 0.15% of the company, 0.95% of its portfolio (added this quarter); held since Q3 2024
10. AMD (AMD): $145.7M, 250,731 shares, 0.02% of the company, 0.72% of its portfolio (added this quarter); held since Q4 2025
11. Synopsys (SNPS): $135.8M, 306,065 shares, 0.16% of the company, 0.67% of its portfolio (added this quarter); held since Q3 2025
12. Adobe (ADBE): $133.0M, 648,891 shares, 0.17% of the company, 0.66% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. TSMC (TSM): $121.7M, 264,817 shares, 0.01% of the company, 0.60% of its portfolio (added this quarter); held since Q2 2020
14. Meta Platforms (META): $102.6M, 182,139 shares, 0.01% of the company, 0.51% of its portfolio (added this quarter); held since Q3 2020
15. Fortinet (FTNT): $99.5M, 645,072 shares, 0.09% of the company, 0.49% of its portfolio (trimmed this quarter); held since Q1 2026

By sector

• Cloud & AI giants: $2.5B, 39% of its AI holdings, 5 companies
• Chips & compute: $2.0B, 31% of its AI holdings, 11 companies
• AI software: $852.0M, 13% of its AI holdings, 14 companies
• Power, electrical & cooling: $353.4M, 6% of its AI holdings, 11 companies
• Memory & storage: $286.6M, 4% of its AI holdings, 3 companies
• Equipment & test: $149.8M, 2% of its AI holdings, 5 companies
• Optics: $124.4M, 2% of its AI holdings, 4 companies
• Interconnect: $77.0M, 1% of its AI holdings, 3 companies
• Servers & systems: $29.3M, 0% of its AI holdings, 2 companies
• Neoclouds & data centers: $6.3M, 0% of its AI holdings, 2 companies

Biggest changes this quarter

• trimmed Microsoft (MSFT): -$146.1M at the quarter's price
• trimmed Micron (MU): -$135.0M at the quarter's price
• added to Broadcom (AVGO): +$105.5M at the quarter's price
• added to NVIDIA (NVDA): +$87.2M at the quarter's price
• added to Adobe (ADBE): +$85.8M at the quarter's price
• opened a position in Intel (INTC): +$81.8M at the quarter's price
• trimmed Alphabet (GOOGL): -$78.8M at the quarter's price
• opened a position in American Electric Power (AEP): +$78.1M at the quarter's price
• trimmed Amphenol (APH): -$76.6M at the quarter's price
• opened a position in NextEra Energy (NEE): +$75.9M at the quarter's price

Other holders of this size

• BI Asset Management Fondsmaeglerselskab A/S: $6.4B in 108 of these companies
• BANCO BILBAO VIZCAYA ARGENTARIA, S.A.: $6.4B in 117 of these companies
• M&G PLC: $6.3B in 66 of these companies
• PensionDanmark Pensionsforsikringsaktieselskab: $6.4B in 95 of these companies
• OMERS ADMINISTRATION Corp: $6.3B in 119 of these companies
• GF FUND MANAGEMENT CO. LTD.: $6.4B in 71 of these companies
• Bahl & Gaynor LLC: $6.3B in 56 of these companies
• TUDOR INVESTMENT CORP ET AL: $6.4B in 127 of these companies

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