Mn Services Vermogensbeheer B.V.

New 13F: Q3 2026

Mn Services Vermogensbeheer B.V. filed its 13F for the quarter ended Sep 30, 2026 on Oct 8, 2026: $6.4B in AI and semiconductor stocks; $71.0M bought and $31.8M sold against its previous quarter, at the quarter's prices.

• trimmed Oracle (ORCL): -$30.1M at the quarter's price
• added to Microsoft (MSFT): +$7.3M at the quarter's price
• added to Apple (AAPL): +$6.7M at the quarter's price
• added to NVIDIA (NVDA): +$6.0M at the quarter's price
• added to Amazon (AMZN): +$5.8M at the quarter's price
• added to Alphabet (GOOGL): +$5.5M at the quarter's price
• added to Broadcom (AVGO): +$5.2M at the quarter's price
• added to Micron (MU): +$3.9M at the quarter's price
• added to AMD (AMD): +$3.5M at the quarter's price
• added to Lam Research (LRCX): +$1.7M at the quarter's price

Mn Services Vermogensbeheer B.V. declares $6.2B in 80 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 46.7% of its $13.4B 13F portfolio. Largest positions: Apple (0.01% of the company) and Alphabet (0.01% of the company). Over time: $6.2B in 80 of these companies for Q2 2026, against $3.1B in 41 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $281.1M and sold $2.9B of these stocks, at the quarter's prices: a net sale of $2.6B; 12 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio Mn Services Vermogensbeheer B.V. declared for Q2 2026 (Form 13F), held unchanged, returned +1.4% in Q3 2026 (SMH -7.1%), ranked 1218 of 1,785 active managers. Over the last 12 months, quarter after quarter: +35.5% (SMH +87.2%), ranked 356 of 1,360 active managers. Over three years, quarter after quarter: +164.7% (SMH +325.8%), ranked 210 of 784 active managers. Over five years, quarter after quarter: +179.0% (SMH +389.8%), ranked 146 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. Apple (AAPL): $506.5M, 1.8M shares, 0.01% of the company, 3.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Alphabet (GOOGL): $482.1M, 1.4M shares, 0.01% of the company, 3.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Amazon (AMZN): $480.9M, 2.0M shares, 0.02% of the company, 3.6% of its portfolio (trimmed this quarter); held since Q1 2024
4. Broadcom (AVGO): $480.9M, 1.3M shares, 0.03% of the company, 3.6% of its portfolio (trimmed this quarter); held since Q2 2023
5. NVIDIA (NVDA): $474.9M, 2.4M shares, 0.01% of the company, 3.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Microsoft (MSFT): $467.7M, 1.3M shares, 0.02% of the company, 3.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Micron (MU): $379.2M, 328,527 shares, 0.03% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q1 2024
8. AMD (AMD): $275.9M, 474,894 shares, 0.03% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q2 2021
9. Intel (INTC): $178.7M, 1.3M shares, 0.02% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q1 2024
10. Applied Materials (AMAT): $167.2M, 231,212 shares, 0.03% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Lam Research (LRCX): $157.7M, 363,843 shares, 0.03% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Cisco (CSCO): $135.2M, 1.2M shares, 0.03% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. KLA (KLAC): $115.1M, 381,390 shares, 0.03% of the company, 0.86% of its portfolio (trimmed this quarter); held since Q2 2022
14. GE Vernova (GEV): $92.0M, 78,292 shares, 0.03% of the company, 0.69% of its portfolio (trimmed this quarter); held since Q2 2025
15. Palo Alto Networks (PANW): $80.6M, 236,329 shares, 0.03% of the company, 0.60% of its portfolio (trimmed this quarter); held since Q2 2022

By sector

• Cloud & AI giants: $1.9B, 31% of its AI holdings, 4 companies
• Chips & compute: $1.7B, 28% of its AI holdings, 12 companies
• AI software: $524.7M, 8% of its AI holdings, 18 companies
• Memory & storage: $514.0M, 8% of its AI holdings, 4 companies
• Equipment & test: $497.2M, 8% of its AI holdings, 7 companies
• Power, electrical & cooling: $491.7M, 8% of its AI holdings, 19 companies
• Interconnect: $264.4M, 4% of its AI holdings, 4 companies
• Servers & systems: $162.0M, 3% of its AI holdings, 6 companies
• Optics: $98.1M, 2% of its AI holdings, 5 companies
• Neoclouds & data centers: $4.3M, 0% of its AI holdings, 1 company

Biggest changes this quarter

• trimmed Alphabet (GOOGL): -$794.1M at the quarter's price
• trimmed NVIDIA (NVDA): -$404.4M at the quarter's price
• trimmed Apple (AAPL): -$319.5M at the quarter's price
• trimmed Amazon (AMZN): -$208.9M at the quarter's price
• trimmed Broadcom (AVGO): -$171.2M at the quarter's price
• trimmed Micron (MU): -$119.8M at the quarter's price
• trimmed AMD (AMD): -$89.3M at the quarter's price
• opened a position in Seagate (STX): +$61.5M at the quarter's price
• trimmed Applied Materials (AMAT): -$60.1M at the quarter's price
• trimmed Intel (INTC): -$57.6M at the quarter's price

Other holders of this size

• PERSHING SQUARE INC.: $6.2B in 3 of these companies
• GLENMEDE TRUST CO NA: $6.3B in 146 of these companies
• QRG CAPITAL MANAGEMENT, INC.: $6.1B in 141 of these companies
• Bahl & Gaynor LLC: $6.3B in 56 of these companies
• POLEN CAPITAL MANAGEMENT LLC: $6.1B in 50 of these companies
• OMERS ADMINISTRATION Corp: $6.3B in 119 of these companies
• Pathstone Holdings, LLC: $6.1B in 182 of these companies
• M&G PLC: $6.3B in 66 of these companies

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