Mawer Investment Management Ltd.

New 13F: Q3 2026

Mawer Investment Management Ltd. filed its 13F for the quarter ended Sep 30, 2026 on Nov 6, 2026: $5.2B in AI and semiconductor stocks; $163.3M bought and $434.3M sold against its previous quarter, at the quarter's prices.

Mawer Investment Management Ltd. declares $5.3B in 26 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 35.8% of its $14.7B 13F portfolio. Largest positions: Alphabet (0.02% of the company) and Amazon (0.03% of the company). Over time: $5.3B in 26 of these companies for Q2 2026, against $1.9B in 9 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $799.7M and sold $1.0B of these stocks, at the quarter's prices: a net sale of $203.0M; 7 new positions.

Performance of its AI picks

The AI-stock portfolio Mawer Investment Management Ltd. declared for Q2 2026 (Form 13F), held unchanged, returned +3.4% in Q3 2026 (SMH -7.1%), ranked 959 of 1,785 active managers. Over the last 12 months, quarter after quarter: +15.3% (SMH +87.2%), ranked 1260 of 1,360 active managers. Over three years, quarter after quarter: +108.7% (SMH +325.8%), ranked 694 of 784 active managers. Over five years, quarter after quarter: +105.4% (SMH +389.8%), ranked 482 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): $952.3M, 2.7M shares, 0.02% of the company, 6.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Amazon (AMZN): $721.7M, 3.0M shares, 0.03% of the company, 4.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Microsoft (MSFT): $626.6M, 1.7M shares, 0.02% of the company, 4.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. NVIDIA (NVDA): $616.0M, 3.1M shares, 0.01% of the company, 4.2% of its portfolio (added this quarter); held since Q4 2024
  5. Amphenol (APH): $415.8M, 4.7M shares, 0.19% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. American Electric Power (AEP): $312.5M, 2.3M shares, 0.42% of the company, 2.1% of its portfolio (added this quarter); held since Q2 2021
  7. Meta Platforms (META): $307.4M, 545,687 shares, 0.02% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q2 2025
  8. Southern Company (SO): $289.4M, 3.0M shares, 0.26% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q2 2021
  9. Tower Semiconductor (TSEM): $270.6M, 1.0M shares, 0.92% of the company, 1.8% of its portfolio (added this quarter); held since Q1 2026
  10. BWX Technologies (BWXT): $134.3M, 689,750 shares, 0.75% of the company, 0.91% of its portfolio (trimmed this quarter); held since Q4 2021
  11. Texas Instruments (TXN): $133.3M, 447,181 shares, 0.05% of the company, 0.91% of its portfolio (added this quarter); held since Q4 2019 or earlier
  12. AAON (AAON): $108.5M, 855,173 shares, 1.0% of the company, 0.74% of its portfolio (added this quarter); held since Q1 2025
  13. TSMC (TSM): $57.5M, 120,328 shares, 0.00% of the company, 0.39% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Lumentum (LITE): $49.5M, 57,680 shares, 0.06% of the company, 0.34% of its portfolio (added this quarter); held since Q1 2026
  15. Broadcom (AVGO): $48.5M, 128,290 shares, 0.00% of the company, 0.33% of its portfolio (new position this quarter)

By sector

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