NISSAY ASSET MANAGEMENT CORP /JAPAN

NISSAY ASSET MANAGEMENT CORP /JAPAN declares $10.0B in 118 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 42.4% of its $23.7B 13F portfolio. Largest positions: NVIDIA (0.02% of the company) and Apple (0.02% of the company). Over time: $10.0B in 118 of these companies for Q2 2026, against $1.1B in 77 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $860.2M and sold $296.6M of these stocks, at the quarter's prices: a net purchase of $563.6M; 11 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio NISSAY ASSET MANAGEMENT CORP /JAPAN declared for Q2 2026 (Form 13F), held unchanged, returned +1.4% in Q3 2026 (SMH -7.1%), ranked 1215 of 1,785 active managers. Over the last 12 months, quarter after quarter: +33.2% (SMH +87.2%), ranked 423 of 1,360 active managers. Over three years, quarter after quarter: +155.7% (SMH +325.8%), ranked 282 of 784 active managers. Over five years, quarter after quarter: +169.3% (SMH +389.8%), ranked 199 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. NVIDIA (NVDA): $1.2B, 5.9M shares, 0.02% of the company, 5.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Apple (AAPL): $933.6M, 3.2M shares, 0.02% of the company, 3.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $891.7M, 2.5M shares, 0.02% of the company, 3.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Amazon (AMZN): $614.9M, 2.6M shares, 0.02% of the company, 2.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Microsoft (MSFT): $607.3M, 1.6M shares, 0.02% of the company, 2.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Broadcom (AVGO): $594.4M, 1.6M shares, 0.03% of the company, 2.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Micron (MU): $522.7M, 452,809 shares, 0.04% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. AMD (AMD): $373.6M, 643,083 shares, 0.04% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. Applied Materials (AMAT): $341.6M, 472,454 shares, 0.06% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Meta Platforms (META): $333.0M, 591,169 shares, 0.02% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Intel (INTC): $289.8M, 2.1M shares, 0.04% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Lam Research (LRCX): $215.0M, 496,234 shares, 0.04% of the company, 0.91% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. KLA (KLAC): $175.9M, 582,944 shares, 0.04% of the company, 0.74% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Texas Instruments (TXN): $161.9M, 543,239 shares, 0.06% of the company, 0.68% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Marvell (MRVL): $140.2M, 470,523 shares, 0.05% of the company, 0.59% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $3.4B, 34% of its AI holdings, 6 companies
• Chips & compute: $3.2B, 32% of its AI holdings, 17 companies
• Equipment & test: $904.5M, 9% of its AI holdings, 9 companies
• Memory & storage: $649.0M, 6% of its AI holdings, 4 companies
• Power, electrical & cooling: $618.5M, 6% of its AI holdings, 33 companies
• AI software: $516.4M, 5% of its AI holdings, 18 companies
• Interconnect: $374.5M, 4% of its AI holdings, 7 companies
• Optics: $146.1M, 1% of its AI holdings, 6 companies
• Neoclouds & data centers: $120.5M, 1% of its AI holdings, 11 companies
• Servers & systems: $86.5M, 1% of its AI holdings, 7 companies

Biggest changes this quarter

• added to Amazon (AMZN): +$72.2M at the quarter's price
• opened a position in Eaton (ETN): +$63.3M at the quarter's price
• added to Micron (MU): +$59.5M at the quarter's price
• added to Texas Instruments (TXN): +$57.0M at the quarter's price
• added to Sandisk (SNDK): +$55.0M at the quarter's price
• added to Intel (INTC): +$49.5M at the quarter's price
• opened a position in NXP Semiconductors (NXPI): +$45.8M at the quarter's price
• trimmed Quanta Services (PWR): -$40.9M at the quarter's price
• added to Broadcom (AVGO): +$36.0M at the quarter's price
• trimmed Oracle (ORCL): -$35.7M at the quarter's price

Other holders of this size

• Alyeska Investment Group, L.P.: $10.0B in 80 of these companies
• WEALTH ENHANCEMENT ADVISORY SERVICES, LLC: $10.2B in 161 of these companies
• Harel Insurance Investments & Financial Services Ltd.: $9.8B in 85 of these companies
• EAGLE CAPITAL MANAGEMENT LLC: $10.2B in 10 of these companies
• Woodline Partners LP: $9.8B in 121 of these companies
• JACOBS LEVY EQUITY MANAGEMENT, INC: $10.2B in 71 of these companies
• Czech National Bank: $9.8B in 93 of these companies
• NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO: $10.3B in 196 of these companies

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