PensionDanmark Pensionsforsikringsaktieselskab

New 13F: Q3 2026

PensionDanmark Pensionsforsikringsaktieselskab filed its 13F for the quarter ended Sep 30, 2026 on Oct 19, 2026: $6.8B in AI and semiconductor stocks; $104.4M bought and $105.0M sold against its previous quarter, at the quarter's prices.

• opened a position in Sandisk (SNDK): +$42.3M at the quarter's price
• trimmed Apple (AAPL): -$18.1M at the quarter's price
• trimmed Microsoft (MSFT): -$14.0M at the quarter's price
• trimmed Meta Platforms (META): -$9.9M at the quarter's price
• trimmed Alphabet (GOOGL): -$7.4M at the quarter's price
• trimmed NVIDIA (NVDA): -$7.4M at the quarter's price
• added to Palo Alto Networks (PANW): +$5.2M at the quarter's price
• added to Intel (INTC): +$5.0M at the quarter's price
• trimmed ServiceNow (NOW): -$4.0M at the quarter's price
• added to Microchip (MCHP): +$3.8M at the quarter's price

PensionDanmark Pensionsforsikringsaktieselskab declares $6.4B in 95 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 53.3% of its $12.0B 13F portfolio. Largest positions: NVIDIA (0.02% of the company) and Apple (0.02% of the company). Over time: $6.4B in 95 of these companies for Q2 2026, against $5.5B in 94 for Q4 2025 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $223.4M and sold $92.6M of these stocks, at the quarter's prices: a net purchase of $130.8M; 1 new position and 4 sold out.

Performance of its AI picks

The AI-stock portfolio PensionDanmark Pensionsforsikringsaktieselskab declared for Q2 2026 (Form 13F), held unchanged, returned +5.5% in Q3 2026 (SMH -7.1%), ranked 505 of 1,785 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): $928.2M, 4.6M shares, 0.02% of the company, 7.7% of its portfolio (trimmed this quarter); held since Q4 2025
2. Apple (AAPL): $839.8M, 2.9M shares, 0.02% of the company, 7.0% of its portfolio (added this quarter); held since Q4 2025
3. Alphabet (GOOGL): $746.3M, 2.1M shares, 0.02% of the company, 6.2% of its portfolio (trimmed this quarter); held since Q4 2025
4. Microsoft (MSFT): $529.5M, 1.4M shares, 0.02% of the company, 4.4% of its portfolio (added this quarter); held since Q4 2025
5. Amazon (AMZN): $453.2M, 1.9M shares, 0.02% of the company, 3.8% of its portfolio (added this quarter); held since Q4 2025
6. Broadcom (AVGO): $327.0M, 865,698 shares, 0.02% of the company, 2.7% of its portfolio (added this quarter); held since Q4 2025
7. Micron (MU): $252.1M, 218,417 shares, 0.02% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2025
8. Meta Platforms (META): $244.6M, 434,173 shares, 0.02% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2025
9. AMD (AMD): $183.5M, 315,846 shares, 0.02% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2025
10. Applied Materials (AMAT): $131.5M, 181,875 shares, 0.02% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2025
11. Lam Research (LRCX): $116.4M, 268,636 shares, 0.02% of the company, 0.97% of its portfolio (added this quarter); held since Q4 2025
12. Intel (INTC): $109.2M, 782,422 shares, 0.01% of the company, 0.91% of its portfolio (added this quarter); held since Q4 2025
13. Cisco (CSCO): $88.7M, 754,963 shares, 0.02% of the company, 0.74% of its portfolio (added this quarter); held since Q4 2025
14. KLA (KLAC): $86.4M, 286,464 shares, 0.02% of the company, 0.72% of its portfolio (added this quarter); held since Q4 2025
15. GE Vernova (GEV): $65.5M, 55,711 shares, 0.02% of the company, 0.54% of its portfolio (added this quarter); held since Q4 2025

By sector

• Cloud & AI giants: $2.8B, 44% of its AI holdings, 5 companies
• Chips & compute: $1.8B, 27% of its AI holdings, 14 companies
• Equipment & test: $385.1M, 6% of its AI holdings, 7 companies
• AI software: $382.5M, 6% of its AI holdings, 19 companies
• Power, electrical & cooling: $339.6M, 5% of its AI holdings, 23 companies
• Memory & storage: $304.7M, 5% of its AI holdings, 3 companies
• Interconnect: $180.4M, 3% of its AI holdings, 4 companies
• Servers & systems: $98.2M, 2% of its AI holdings, 7 companies
• Neoclouds & data centers: $81.5M, 1% of its AI holdings, 9 companies
• Optics: $79.3M, 1% of its AI holdings, 4 companies

Biggest changes this quarter

• added to Dominion Energy (D): +$24.5M at the quarter's price
• trimmed NextEra Energy (NEE): -$22.5M at the quarter's price
• added to Microsoft (MSFT): +$18.3M at the quarter's price
• trimmed Alphabet (GOOGL): -$13.7M at the quarter's price
• added to Amazon (AMZN): +$12.5M at the quarter's price
• added to Cisco (CSCO): +$12.0M at the quarter's price
• trimmed Meta Platforms (META): -$10.9M at the quarter's price
• added to Palo Alto Networks (PANW): +$9.1M at the quarter's price
• added to Apple (AAPL): +$8.4M at the quarter's price
• added to Applied Materials (AMAT): +$8.2M at the quarter's price

Other holders of this size

• BANCO BILBAO VIZCAYA ARGENTARIA, S.A.: $6.4B in 117 of these companies
• GF FUND MANAGEMENT CO. LTD.: $6.4B in 71 of these companies
• JUPITER ASSET MANAGEMENT LTD: $6.4B in 60 of these companies
• TUDOR INVESTMENT CORP ET AL: $6.4B in 127 of these companies
• BI Asset Management Fondsmaeglerselskab A/S: $6.4B in 108 of these companies
• Soroban Capital Partners LP: $6.5B in 9 of these companies
• M&G PLC: $6.3B in 66 of these companies
• Epoch Investment Partners, Inc.: $6.5B in 42 of these companies

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