PineStone Asset Management Inc.

New 13F: Q3 2026

PineStone Asset Management Inc. filed its 13F for the quarter ended Sep 30, 2026 on Oct 16, 2026: $6.9B in AI and semiconductor stocks; $207.9M bought and $345.3M sold against its previous quarter, at the quarter's prices.

• trimmed TSMC (TSM): -$149.7M at the quarter's price
• opened a position in Broadcom (AVGO): +$126.8M at the quarter's price
• trimmed Alphabet (GOOGL): -$105.7M at the quarter's price
• trimmed Microsoft (MSFT): -$76.5M at the quarter's price
• added to KLA (KLAC): +$48.5M at the quarter's price
• added to Amazon (AMZN): +$32.6M at the quarter's price
• trimmed Carrier (CARR): -$11.2M at the quarter's price
• trimmed Analog Devices (ADI): -$2.0M at the quarter's price

PineStone Asset Management Inc. declares $7.1B in 7 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 43.9% of its $16.2B 13F portfolio. Largest positions: TSMC (0.10% of the company) and Alphabet (0.04% of the company). Over time: $7.1B in 7 of these companies for Q2 2026, against $143.2M in 7 for Q4 2022 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $656.9M and sold $481.8M of these stocks, at the quarter's prices: a net purchase of $175.2M; 1 sold out.

Performance of its AI picks

The AI-stock portfolio PineStone Asset Management Inc. declared for Q2 2026 (Form 13F), held unchanged, returned -1.6% in Q3 2026 (SMH -7.1%), ranked 1409 of 1,785 active managers. Over the last 12 months, quarter after quarter: +23.7% (SMH +87.2%), ranked 1004 of 1,360 active managers. Over three years, quarter after quarter: +150.6% (SMH +325.8%), ranked 336 of 784 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. TSMC (TSM): $2.4B, 5.0M shares, 0.10% of the company, 14.6% of its portfolio (trimmed this quarter); held since Q4 2022
2. Alphabet (GOOGL): $1.6B, 4.6M shares, 0.04% of the company, 10.2% of its portfolio (trimmed this quarter); held since Q4 2022
3. Microsoft (MSFT): $964.9M, 2.6M shares, 0.03% of the company, 6.0% of its portfolio (trimmed this quarter); held since Q4 2022
4. Amazon (AMZN): $662.3M, 2.8M shares, 0.03% of the company, 4.1% of its portfolio (added this quarter); held since Q4 2025
5. KLA (KLAC): $654.6M, 2.2M shares, 0.17% of the company, 4.0% of its portfolio (added this quarter); held since Q1 2026
6. Carrier (CARR): $464.6M, 6.3M shares, 0.77% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2022
7. Analog Devices (ADI): $351.1M, 883,993 shares, 0.18% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2022

By sector

• Cloud & AI giants: $3.3B, 46% of its AI holdings, 3 companies
• Chips & compute: $2.7B, 38% of its AI holdings, 2 companies
• Equipment & test: $654.6M, 9% of its AI holdings, 1 company
• Power, electrical & cooling: $464.6M, 7% of its AI holdings, 1 company

Biggest changes this quarter

• added to KLA (KLAC): +$331.7M at the quarter's price
• added to Amazon (AMZN): +$301.6M at the quarter's price
• trimmed Alphabet (GOOGL): -$202.6M at the quarter's price
• trimmed TSMC (TSM): -$156.9M at the quarter's price
• trimmed Microsoft (MSFT): -$104.3M at the quarter's price
• added to Analog Devices (ADI): +$23.6M at the quarter's price
• trimmed Carrier (CARR): -$17.6M at the quarter's price
• sold out of Power Integrations (POWI): -$435,200.00 at the quarter's price

Other holders of this size

• Zurich Insurance Group Ltd/FI: $7.1B in 56 of these companies
• Cresset Asset Management, LLC: $7.1B in 153 of these companies
• HUNTINGTON NATIONAL BANK: $7.1B in 200 of these companies
• VIRGINIA RETIREMENT SYSTEMS ET Al: $7.3B in 151 of these companies
• Gotham Asset Management, LLC: $7.0B in 164 of these companies
• BROWN BROTHERS HARRIMAN & CO: $7.3B in 156 of these companies
• AMALGAMATED BANK: $7.0B in 177 of these companies
• Federation des caisses Desjardins du Quebec: $7.4B in 197 of these companies

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