Zurcher Kantonalbank (Zurich Cantonalbank)

New 13F: Q3 2026

Zurcher Kantonalbank (Zurich Cantonalbank) filed its 13F for the quarter ended Sep 30, 2026 on Nov 10, 2026: $24.8B in AI and semiconductor stocks; $1.1B bought and $504.8M sold against its previous quarter, at the quarter's prices.

Zurcher Kantonalbank (Zurich Cantonalbank) declares $23.2B in 207 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 44.5% of its $52.2B 13F portfolio. Largest positions: NVIDIA (0.07% of the company) and Apple (0.06% of the company). Over time: $23.2B in 207 of these companies for Q2 2026, against $3.1B in 151 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.4B and sold $1.9B of these stocks, at the quarter's prices: a net sale of $556.8M; 3 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio Zurcher Kantonalbank (Zurich Cantonalbank) declared for Q2 2026 (Form 13F), held unchanged, returned +4.6% in Q3 2026 (SMH -7.1%), ranked 701 of 1,785 active managers. Over the last 12 months, quarter after quarter: +28.6% (SMH +87.2%), ranked 680 of 1,360 active managers. Over three years, quarter after quarter: +148.7% (SMH +325.8%), ranked 366 of 784 active managers. Over five years, quarter after quarter: +161.6% (SMH +389.8%), ranked 249 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): $3.2B, 16.0M shares, 0.07% of the company, 6.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Apple (AAPL): $2.7B, 9.3M shares, 0.06% of the company, 5.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL): $2.5B, 6.9M shares, 0.06% of the company, 4.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT): $1.7B, 4.5M shares, 0.06% of the company, 3.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN): $1.4B, 6.0M shares, 0.06% of the company, 2.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO): $1.2B, 3.1M shares, 0.07% of the company, 2.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Micron (MU): $1.1B, 986,674 shares, 0.09% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META): $780.5M, 1.4M shares, 0.05% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
  9. AMD (AMD): $764.7M, 1.3M shares, 0.08% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
  10. Palo Alto Networks (PANW): $276.1M, 809,489 shares, 0.10% of the company, 0.53% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Caterpillar (CAT): $260.6M, 244,746 shares, 0.05% of the company, 0.50% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  12. GE Vernova (GEV): $260.4M, 221,672 shares, 0.08% of the company, 0.50% of its portfolio (added this quarter); held since Q2 2024
  13. Applied Materials (AMAT): $234.3M, 324,124 shares, 0.04% of the company, 0.45% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Vertiv (VRT): $222.9M, 665,850 shares, 0.17% of the company, 0.43% of its portfolio (trimmed this quarter); held since Q2 2020
  15. Cisco (CSCO): $219.2M, 1.9M shares, 0.05% of the company, 0.42% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

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