WCM INVESTMENT MANAGEMENT, LLC

New 13F: Q3 2026

WCM INVESTMENT MANAGEMENT, LLC filed its 13F for the quarter ended Sep 30, 2026 on Nov 10, 2026: $22.4B in AI and semiconductor stocks; $2.2B bought and $540.3M sold against its previous quarter, at the quarter's prices.

• opened a position in Palantir (PLTR): +$716.6M at the quarter's price
• added to Microsoft (MSFT): +$402.1M at the quarter's price
• added to Meta Platforms (META): +$275.9M at the quarter's price
• trimmed ASML (ASML): -$205.1M at the quarter's price
• added to Seagate (STX): +$135.5M at the quarter's price
• trimmed TSMC (TSM): -$116.0M at the quarter's price
• added to Amazon (AMZN): +$112.3M at the quarter's price
• added to Nebius (NBIS): +$90.5M at the quarter's price
• added to Entegris (ENTG): +$71.6M at the quarter's price
• added to MKS (MKSI): +$67.1M at the quarter's price

WCM INVESTMENT MANAGEMENT, LLC declares $20.5B in 38 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 37.2% of its $55.2B 13F portfolio. Largest positions: Seagate (2.3% of the company) and TSMC (0.18% of the company). Over time: $20.5B in 38 of these companies for Q2 2026, against $4.6B in 13 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $2.9B and sold $4.1B of these stocks, at the quarter's prices: a net sale of $1.3B; 7 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio WCM INVESTMENT MANAGEMENT, LLC declared for Q2 2026 (Form 13F), held unchanged, returned -4.8% in Q3 2026 (SMH -7.1%), ranked 1528 of 1,785 active managers. Over the last 12 months, quarter after quarter: +108.0% (SMH +87.2%), ranked 22 of 1,360 active managers. Over three years, quarter after quarter: +319.2% (SMH +325.8%), ranked 28 of 784 active managers. Over five years, quarter after quarter: +242.1% (SMH +389.8%), ranked 47 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. Seagate (STX): $5.2B, 5.3M shares, 2.3% of the company, 9.3% of its portfolio (added this quarter); held since Q3 2025
2. TSMC (TSM): $4.2B, 9.3M shares, 0.18% of the company, 7.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. ASML (ASML): $2.7B, 1.4M shares, 0.38% of the company, 4.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Amazon (AMZN): $1.5B, 6.4M shares, 0.06% of the company, 2.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Corning (GLW): $1.5B, 5.9M shares, 0.69% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q3 2025
6. Western Digital (WDC): $1.1B, 1.6M shares, 0.44% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q3 2025
7. Meta Platforms (META): $1.0B, 1.8M shares, 0.07% of the company, 1.9% of its portfolio (added this quarter); held since Q2 2024
8. NVIDIA (NVDA): $929.5M, 4.8M shares, 0.02% of the company, 1.7% of its portfolio (added this quarter); held since Q2 2023
9. Microsoft (MSFT): $728.1M, 2.0M shares, 0.03% of the company, 1.3% of its portfolio (added this quarter); held since Q1 2022
10. Alphabet (GOOGL): $669.5M, 1.9M shares, 0.02% of the company, 1.2% of its portfolio (added this quarter); held since Q3 2025
11. Comfort Systems USA (FIX): $282.4M, 144,923 shares, 0.41% of the company, 0.51% of its portfolio (added this quarter); held since Q2 2024
12. Nebius (NBIS): $165.5M, 633,765 shares, 0.25% of the company, 0.30% of its portfolio (added this quarter); held since Q1 2025
13. Celestica (CLS): $114.3M, 332,862 shares, 0.26% of the company, 0.21% of its portfolio (added this quarter); held since Q4 2023
14. ACM Research (ACMR): $109.1M, 917,651 shares, 1.3% of the company, 0.20% of its portfolio (trimmed this quarter); held since Q4 2025
15. GDS Holdings (GDS): $32.6M, 1.1M shares, 0.55% of the company, 0.06% of its portfolio (trimmed this quarter); held since Q1 2026

By sector

• Memory & storage: $6.2B, 30% of its AI holdings, 3 companies
• Chips & compute: $5.2B, 25% of its AI holdings, 7 companies
• Cloud & AI giants: $4.0B, 19% of its AI holdings, 4 companies
• Equipment & test: $2.9B, 14% of its AI holdings, 6 companies
• Optics: $1.5B, 7% of its AI holdings, 3 companies
• Power, electrical & cooling: $364.3M, 2% of its AI holdings, 6 companies
• Neoclouds & data centers: $204.5M, 1% of its AI holdings, 3 companies
• Servers & systems: $116.1M, 1% of its AI holdings, 2 companies
• Interconnect: $29.5M, 0% of its AI holdings, 4 companies

Biggest changes this quarter

• trimmed Western Digital (WDC): -$3.2B at the quarter's price
• added to Meta Platforms (META): +$1.0B at the quarter's price
• added to Seagate (STX): +$943.0M at the quarter's price
• added to Alphabet (GOOGL): +$668.2M at the quarter's price
• trimmed Corning (GLW): -$555.9M at the quarter's price
• trimmed ASML (ASML): -$140.8M at the quarter's price
• trimmed ACM Research (ACMR): -$112.1M at the quarter's price
• added to Amazon (AMZN): +$65.1M at the quarter's price
• added to Comfort Systems USA (FIX): +$55.0M at the quarter's price
• trimmed TSMC (TSM): -$30.1M at the quarter's price

Other holders of this size

• Creative Planning: $20.5B in 213 of these companies
• HighTower Advisors, LLC: $20.6B in 199 of these companies
• PFA Pension, Forsikringsaktieselskab: $20.4B in 85 of these companies
• Mitsubishi UFJ Trust & Banking Corp: $20.6B in 180 of these companies
• Fayez Sarofim & Co: $20.3B in 54 of these companies
• CREDIT AGRICOLE S A: $20.7B in 157 of these companies
• Corient Private Wealth LP: $20.3B in 185 of these companies
• Capricorn Investment Group LLC: $20.8B in 2 of these companies

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