2026-Q2 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 13F Filing: UBS AM trims NVDA and MU as values climb

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, filed its 13F for the second quarter of 2026, disclosing portfolio holdings as of June 30, 2026.

Quick Reference

Q: Did UBS AM buy or sell Nvidia (NVDA) in 2026-Q2? UBS AM sold Nvidia (NVDA) shares in 2026-Q2 — the filing records an active trim of the share count. The position's dollar value still grew by +$4.19B to $38.89B because the stock's price gain over the quarter was worth more than the shares the fund sold, making this real selling rather than a buy. The stake's portfolio weight eased from 7.21% to 7.07%.

Q: What is UBS AM's biggest holding after the 2026-Q2 13F filing? Nvidia (NVDA) is UBS AM's largest disclosed position in the filing, at 7.07% of the portfolio. Apple (AAPL) ranks second at 5.47%, ahead of Amazon (AMZN) at 3.03% and Alphabet class A (GOOGL) at 2.90%.

Q: Why did UBS AM's Micron (MU) position jump in value when the fund actually sold shares? The dollar value rose because MU's price gain over the quarter exceeded the worth of the shares UBS AM trimmed — the move was price-driven, not added buying. The filing records a genuine reduction of MU's share count, yet the position's value still climbed by +$7.03B and its weight expanded from 0.67% to 1.87%.

Q: Which positions did UBS AM trim even as their dollar values rose in 2026-Q2? Twelve headline names show trimmed share counts alongside higher dollar values: Nvidia (NVDA), Micron (MU), AMD, Intel (INTC), Applied Materials (AMAT), Apple (AAPL), Alphabet (GOOGL and GOOG), Lam Research (LRCX), Amazon (AMZN), Caterpillar (CAT) and Tesla (TSLA). In every case the fund really did sell shares, and each value rose only because the stock's price gain was larger than the value of the trimmed shares — none of these lines represent buys. AMD illustrates the pattern: its value grew by +$6.29B while its weight moved from 0.81% to 1.85%.

Q: What did UBS AM buy in the second quarter of 2026? UBS AM increased share counts in eleven disclosed names: Broadcom (AVGO), Western Digital (WDC), Eli Lilly (LLY), KLA (KLAC), Cisco (CSCO), Palo Alto Networks (PANW), Marvell (MRVL), Sandisk (SNDK), Equinix (EQIX), Visa (V) and Digital Realty (DLR). Broadcom led the group, growing by +$3.09B to $15.18B as its weight moved from 2.51% to 2.76%, while Western Digital's weight shifted from 0.16% to 0.55%.

Q: Did UBS AM come close to exiting any position in 2026-Q2? Accenture (ACN) is the filing's nearest thing to a full exit, with the position shrinking to $4.0M and a residual weight of 0.00%. Linde (LIN) moved -$1.66B and Netflix (NFLX) moved -$1.03B, and Exxon Mobil (XOM), Eaton (ETN), Johnson & Johnson (JNJ) and Chubb (CB) were all trimmed as well, with values falling alongside the smaller share counts.

Q: How active was UBS AM in 2026-Q2? The fund turned its portfolio over at a 0.267665 ratio in 2026-Q2, up from 0.180308 in the prior quarter. The number of holdings slipped to 3723 from 3807, and the book stayed broadly diversified with a Herfindahl-Hirschman Index of 0.016136.

Q: Is UBS AM's portfolio more tech-heavy after 2026-Q2? Yes — Information Technology carried a 41.44% sector weight at June 30, 2026, up from 35.95% three months earlier. Financials, the second-largest sleeve, declined to 10.58% from 12.32% over the same span.

Q: What's the easiest way to track UBS AM's future filings? The simplest approach is to watch for UBS ASSET MANAGEMENT AMERICAS LLC's next quarterly 13F, which will cover the quarter ending September 30, 2026 and list every position held at that date. Comparing each new filing against the previous one reveals fresh buys, adds, trims and full exits as they occur.