Swedbank AB

New 13F: Q3 2026

Swedbank AB filed its 13F for the quarter ended Sep 30, 2026 on Oct 27, 2026: $70.3B in AI and semiconductor stocks; $2.6B bought and $3.1B sold against its previous quarter, at the quarter's prices.

• added to Meta Platforms (META): +$492.0M at the quarter's price
• trimmed Micron (MU): -$459.0M at the quarter's price
• trimmed Palo Alto Networks (PANW): -$449.1M at the quarter's price
• trimmed Cisco (CSCO): -$364.7M at the quarter's price
• added to Marvell (MRVL): +$230.2M at the quarter's price
• trimmed Qualcomm (QCOM): -$228.4M at the quarter's price
• trimmed Cadence (CDNS): -$202.3M at the quarter's price
• added to AMD (AMD): +$200.7M at the quarter's price
• added to Arista Networks (ANET): +$174.4M at the quarter's price
• trimmed Alphabet (GOOGL): -$168.7M at the quarter's price

Swedbank AB declares $68.1B in 111 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 58.7% of its $116.0B 13F portfolio. Largest positions: NVIDIA (0.18% of the company) and Alphabet (0.16% of the company). Over time: $68.1B in 111 of these companies for Q2 2026, against $18.1B in 83 for Q1 2021 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $3.7B and sold $2.4B of these stocks, at the quarter's prices: a net purchase of $1.3B; 6 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio Swedbank AB declared for Q2 2026 (Form 13F), held unchanged, returned +4.0% in Q3 2026 (SMH -7.1%), ranked 828 of 1,785 active managers. Over the last 12 months, quarter after quarter: +32.1% (SMH +87.2%), ranked 464 of 1,360 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): $8.7B, 43.5M shares, 0.18% of the company, 7.5% of its portfolio (added this quarter); held since Q1 2021
2. Alphabet (GOOGL): $6.9B, 19.3M shares, 0.16% of the company, 5.9% of its portfolio (trimmed this quarter); held since Q1 2021
3. Apple (AAPL): $5.9B, 20.2M shares, 0.14% of the company, 5.0% of its portfolio (added this quarter); held since Q1 2021
4. Microsoft (MSFT): $5.5B, 14.9M shares, 0.20% of the company, 4.8% of its portfolio (trimmed this quarter); held since Q1 2021
5. Broadcom (AVGO): $5.0B, 13.2M shares, 0.28% of the company, 4.3% of its portfolio (added this quarter); held since Q1 2021
6. Amazon (AMZN): $3.9B, 16.5M shares, 0.15% of the company, 3.4% of its portfolio (added this quarter); held since Q1 2021
7. Micron (MU): $2.7B, 2.4M shares, 0.21% of the company, 2.4% of its portfolio (added this quarter); held since Q1 2021
8. AMD (AMD): $2.5B, 4.2M shares, 0.26% of the company, 2.1% of its portfolio (added this quarter); held since Q1 2021
9. Applied Materials (AMAT): $2.1B, 2.9M shares, 0.36% of the company, 1.8% of its portfolio (added this quarter); held since Q1 2021
10. Lam Research (LRCX): $2.0B, 4.6M shares, 0.37% of the company, 1.7% of its portfolio (added this quarter); held since Q1 2021
11. KLA (KLAC): $1.7B, 5.5M shares, 0.42% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q1 2021
12. Meta Platforms (META): $1.6B, 2.8M shares, 0.11% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q1 2021
13. Analog Devices (ADI): $1.5B, 3.8M shares, 0.79% of the company, 1.3% of its portfolio (added this quarter); held since Q1 2021
14. Arista Networks (ANET): $1.1B, 6.3M shares, 0.50% of the company, 0.92% of its portfolio (trimmed this quarter); held since Q1 2021
15. Cisco (CSCO): $862.4M, 7.3M shares, 0.19% of the company, 0.74% of its portfolio (trimmed this quarter); held since Q1 2021

By sector

• Cloud & AI giants: $24.4B, 36% of its AI holdings, 6 companies
• Chips & compute: $20.4B, 30% of its AI holdings, 16 companies
• Equipment & test: $6.1B, 9% of its AI holdings, 9 companies
• AI software: $5.7B, 8% of its AI holdings, 19 companies
• Memory & storage: $3.8B, 6% of its AI holdings, 5 companies
• Interconnect: $3.4B, 5% of its AI holdings, 9 companies
• Power, electrical & cooling: $3.0B, 4% of its AI holdings, 25 companies
• Optics: $478.1M, 1% of its AI holdings, 6 companies
• Servers & systems: $414.9M, 1% of its AI holdings, 8 companies
• Neoclouds & data centers: $357.1M, 1% of its AI holdings, 8 companies

Biggest changes this quarter

• added to AMD (AMD): +$521.2M at the quarter's price
• trimmed Marvell (MRVL): -$505.9M at the quarter's price
• added to Lam Research (LRCX): +$459.7M at the quarter's price
• trimmed Synopsys (SNPS): -$304.9M at the quarter's price
• added to ServiceNow (NOW): +$298.9M at the quarter's price
• added to Broadcom (AVGO): +$276.0M at the quarter's price
• added to Amphenol (APH): +$272.2M at the quarter's price
• trimmed KLA (KLAC): -$261.9M at the quarter's price
• added to GE Vernova (GEV): +$225.0M at the quarter's price
• added to Apple (AAPL): +$224.4M at the quarter's price

Other holders of this size

• Victory Capital Management, Inc.: $65.0B in 203 of these companies
• California Public Employees Retirement System: $74.4B in 137 of these companies
• SCHRODER INVESTMENT MANAGEMENT GROUP: $64.6B in 124 of these companies
• BNP PARIBAS FINANCIAL MARKETS: $75.4B in 222 of these companies
• PRINCIPAL FINANCIAL GROUP INC: $63.9B in 181 of these companies
• AQR: $76.7B in 211 of these companies
• RHUMBLINE ADVISERS: $61.8B in 219 of these companies
• National Pension Service: $77.8B in 102 of these companies

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