AC
Alkeon Capital Management LLC 13F Holdings & Recent Stock Buys (Q2 2026)
Alkeon Capital Management LLCCIK: 0001230239
Sector-focusedMomentum follower
Total reported value
$74.1B
Reporting period: 2026-06-30 · Number of holdings: 203
ALKEON CAPITAL MANAGEMENT LLC disclosed 203 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $74.1B and a quarterly turnover rate of 32.7%.
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Personality snowflake
- Concentration
- 45.8
- Portfolio Stability
- 32.67
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 68.77
Alkeon Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.115 — mathematically equivalent to about 9 equally-sized positions, well below its 203 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.12), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 52% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim TSM
-46.7% -$808.7M
Add QQQ
+6.9% $4.9B
Trim SPY
0.0% $2.0B
New buy AMAT
Add LRCX
+2.2% $1.2B
Add MSFT
+204.0% $917.3M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
This quarter the book leaned further into the technology complex: QQQ's weight rose from 22.77% to 24.94%, with active adds in LRCX, MSFT, AMD, and INTC, plus fresh positions in AMAT and ARM. The counter-move was a trim in TSM, down from 5.52% to 3.34% — suggesting rotation within the semis space rather than a sector exit. With 93 holdings and IT at 61.21% of the portfolio, this is a high-conviction tech bet, not a diversified spread. Overall net positioning is decidedly more aggressive into the semi equipment and chip design names.
Macro & Fundamentals
The pattern — buying equipment names (LRCX, AMAT) and design houses (AMD, INTC, ARM) while trimming the pure-play foundry (TSM) — loosely tracks a capital-expenditure cycle thesis in semiconductors, where equipment suppliers may benefit from fab buildouts even if foundry margins face pricing pressure. That said, this is an inference from a single quarter of 13F data; the actual driver could just as easily be relative valuation or idiosyncratic stock-specific views. Momentum scores of 100.0 in both tilt and sector conviction suggest the manager is comfortable riding prevailing trends rather than fading them.
Blind Spots / Risks
The most glaring data point is the simultaneous trim of TSM and new buy of ARM — these names are deeply intertwined in the same supply chain, so if the TSM reduction was meant to de-risk geopolitical or customer-concentration exposure, the ARM add doesn't really achieve that; it may even raise correlation across positions. Compounding this, defensives are nearly absent (utilities 3.02%, healthcare 0.11%, staples 0.2%), leaving the portfolio with essentially no shock absorber if the tech trade unwinds. A 61% single-sector weight with a coefficient of variation above 3.0 argues for meaningful drawdown risk under a sector-wide repricing. In short, the data shows a crowded trade being pressed further, not unwound.
AI-assisted summary drawn from this institution's SEC EDGAR filings, covering historical data only. Not a substitute for professional investment advice — cross-check against the primary source filing below. View the original 2026-06-30 Form 13F filing on SEC.gov
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 93 holdings (of 203 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 24.94% | +2.17% | +6.86% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 21.17% | -1.78% | — | |
| 3 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.34% | -2.18% | -46.65% | |
| 4 | LRCX | Lam Research CORP | Stock-Tech | 3.10% | +1.24% | +2.22% | |
| 5 | KLAC | Kla CORP | Stock-Tech | 2.35% | +0.42% | +637.49% | |
| 6 | NVDA | Nvidia CORP | Stock-Tech | 2.34% | -0.78% | -18.47% | |
| 7 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.19% | -0.61% | -14.98% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 1.84% | +1.09% | +203.97% | |
| 9 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.78% | -0.66% | -27.13% | |
| 10 | AMD | Advanced Micro Devices | Stock-Tech | 1.57% | +0.89% | +0.23% | |
| 11 | MCHP | Microchip Technology Inc | Stock-Tech | 1.49% | +0.73% | +72.83% | |
| 12 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.48% | -0.58% | -9.32% | |
| 13 | AMAT | Applied Materials Inc | Stock-Tech | 1.47% | +1.47% | NEW | |
| 14 | TER | Teradyne Inc | Stock-Tech | 1.41% | +0.02% | -22.46% | |
| 15 | APH | Amphenol Corp-cl A | Stock-Tech | 1.36% | +0.38% | +24.11% | |
| 16 | AVGO | Broadcom Inc | Stock-Tech | 1.33% | +0.06% | +6.42% | |
| 17 | INTC | Intel CORP | Stock-Tech | 1.32% | +0.80% | +0.26% | |
| 18 | AAPL | Apple Inc | Stock-Tech | 1.19% | -0.38% | -17.17% | |
| 19 | ADI | Analog Devices Inc | Stock-Tech | 1.11% | — | +0.10% | |
| 20 | ARM | Arm Holdings Plc-adr | Stock-Tech | 1.06% | +1.06% | NEW | |
| 21 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.82% | +0.06% | — | |
| 22 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.79% | +0.05% | +66.67% | |
| 23 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.77% | +0.08% | +22.73% | |
| 24 | SNPS | Synopsys Inc | Stock-Tech | 0.77% | -0.28% | -19.01% | |
| 25 | DASH | Doordash Inc - A | Stock-Consumer Disc | 0.75% | +0.05% | +7.90% | |
| 26 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.75% | -0.31% | +1966.67% | |
| 27 | SHOP | Shopify Inc - Class A | Stock-Tech | 0.69% | -0.11% | +12.50% | |
| 28 | V | Visa Inc-class A Shares | Stock-Financials | 0.68% | -0.07% | — | |
| 29 | TWLO | Twilio Inc - A | Stock-Tech | 0.65% | +0.26% | +26.94% | |
| 30 | NOK | Nokia Corp-spon Adr | Stock-Tech | 0.65% | +0.65% | NEW | |
| 31 | MKSI | Mks Inc | Stock-Tech | 0.64% | +0.64% | NEW | |
| 32 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.64% | -0.41% | -43.17% | |
| 33 | EXPE | Expedia Group Inc | Stock-Consumer Disc | 0.63% | -0.33% | -26.26% | |
| 34 | VMC | Vulcan Materials Co | Stock-Materials | 0.59% | -0.09% | — | |
| 35 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.57% | -0.18% | — | |
| 36 | MA | Mastercard Inc - A | Stock-Financials | 0.54% | -0.11% | — | |
| 37 | BWXT | Bwx Technologies Inc | Stock-Industrials | 0.53% | -0.07% | +16.29% | |
| 38 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 0.53% | -0.20% | -16.84% | |
| 39 | ETR | Entergy CORP | Stock-Utilities | 0.52% | -0.11% | +0.45% | |
| 40 | SIMO | Silicon Motion Technol-adr | Stock-Other | 0.50% | +0.50% | NEW | |
| 41 | MAR | Marriott International -cl A | Stock-Consumer Disc | 0.49% | -0.38% | -37.46% | |
| 42 | MLM | Martin Marietta Materials | Stock-Materials | 0.49% | -0.25% | -16.06% | |
| 43 | EQIX | Equinix Inc | Stock-Real Estate | 0.47% | +0.08% | +42.78% | |
| 44 | CEG | Constellation Energy | Stock-Utilities | 0.43% | -0.22% | -6.55% | |
| 45 | UBER | Uber Technologies Inc | Stock-Industrials | 0.42% | -0.05% | +12.30% | |
| 46 | VST | Vistra CORP | Stock-Utilities | 0.42% | -0.22% | -23.56% | |
| 47 | PWR | Quanta Services Inc | Stock-Industrials | 0.39% | +0.02% | — | |
| 48 | GLW | Corning Inc | Stock-Tech | 0.35% | +0.35% | NEW | |
| 49 | CG | Carlyle Group Inc/the | Stock-Financials | 0.34% | -0.14% | — | |
| 50 | SOXX | Ishares Semiconductor ETF | ETF-Other | 0.32% | +0.15% | +19.47% |
1–50 of 93
Portfolio Performance
Performance for Q3 2026
-1.1%
Performance Last 4 Quarters
+23.9%
- Stdev
- +17.1%
- Beta
- +1.24
- Alpha
- -0.6%
- Max Drawdown
- -11.7%
- Annualized Perf
- +25.3%
- Batting Avg vs S&P
- +61.1%
- Sortino
- +3.02
- Stutzer
- +0.42
- Treynor
- +0.2
- Sterling
- +1.44
- Calmar
- +2.17
- Information Ratio
- +0.62
- Tracking Error
- +6.7%
- Stdev Down
- +8%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +43.2%
- Worst 12 Months
- +5.5%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.42
- Stdev Sectors
- +17.6%
- Skewness
- +0.22
- Kurtosis
- -0.1
- Upside Potential
- +4.64
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 203 | $74.1B | 33 | ||
| 2026 Q1 | 188 | $59.5B | 25 | ||
| 2025 Q4 | 201 | $63.1B | 26 | ||
| 2025 Q3 | 188 | $68.0B | 38 | ||
| 2025 Q2 | 189 | $60.0B | 0 | ||
| 2025 Q1 | 192 | $48.0B | 100 | ||
| 2024 Q4 | 170 | $49.2B | 0 | ||
| 2024 Q3 | 175 | $58.3B | 0 | ||
| 2024 Q2 | 189 | $61.0B | 0 | ||
| 2024 Q1 | 188 | $58.3B | 0 | ||
| 2023 Q4 | 181 | $44.8B | 0 | ||
| 2023 Q3 | 205 | $55.9B | 0 | ||
| 2023 Q2 | 230 | $57.2B | 0 | ||
| 2023 Q1 | 246 | $45.4B | 0 | ||
| 2022 Q4 | 240 | $25.9B | 0 | ||
| 2022 Q3 | 251 | $30.9B | 0 | ||
| 2022 Q2 | 270 | $37.2B | 0 | ||
| 2022 Q1 | 276 | $49.9B | 0 | ||
| 2021 Q4 | 280 | $54.0B | 0 | ||
| 2021 Q3 | 322 | $59.2B | 0 | ||
| 2021 Q2 | 327 | $67.7B | 100 | ||
| 2021 Q1 | 317 | $67.3B | 27 | ||
| 2020 Q4 | 295 | $61.4B | 38 | ||
| 2020 Q3 | 267 | $54.0B | 40 | ||
| 2020 Q2 | 267 | $39.5B | 59 | ||
| 2020 Q1 | 255 | $23.4B | 40 | ||
| 2019 Q4 | 244 | $26.8B | 24 | ||
| 2019 Q3 | 260 | $28.4B | 26 | ||
| 2019 Q2 | 270 | $25.3B | 33 | ||
| 2019 Q1 | 241 | $20.0B | 39 | ||
| 2018 Q4 | 228 | $15.4B | 49 | ||
| 2018 Q3 | 226 | $21.1B | 41 | ||
| 2018 Q2 | 231 | $21.4B | 100 | ||
| 2018 Q1 | 222 | $18.9B | 0 | ||
| 2017 Q4 | 171 | $17.0B | 100 | ||
| 2017 Q3 | 156 | $13.5B | 0 | ||
| 2017 Q2 | 158 | $12.4B | 87 | ||
| 2017 Q1 | 116 | $5.8B | 30 | ||
| 2016 Q4 | 114 | $5.1B | 33 | ||
| 2016 Q3 | 105 | $5.3B | 29 | ||
| 2016 Q2 | 108 | $5.2B | 34 | ||
| 2016 Q1 | 102 | $4.8B | 23 | ||
| 2015 Q4 | 107 | $4.9B | 57 | ||
| 2015 Q3 | 110 | $4.8B | 35 | ||
| 2015 Q2 | 106 | $5.1B | 40 | ||
| 2015 Q1 | 109 | $5.2B | 44 | ||
| 2014 Q4 | 117 | $5.1B | 37 | ||
| 2014 Q3 | 124 | $5.0B | 38 | ||
| 2014 Q2 | 122 | $5.5B | 38 | ||
| 2014 Q1 | 137 | $5.9B | 48 | ||
| 2013 Q4 | 137 | $5.9B | 61 | ||
| 2013 Q3 | 136 | $5.1B | 55 | ||
| 2013 Q2 | 130 | $4.5B | 0 |
Holding changes this quarter
Alkeon Capital Management LLC's most significant position changes for 2026-06-30: New buy: Applied Materials Inc (AMAT); New buy: Arm Holdings Plc-adr (ARM); New buy: Nokia Corp-spon Adr (NOK); New buy: Mks Inc (MKSI); New buy: Silicon Motion Technol-adr (SIMO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | +2.2% | +6.86% | Add |
| 2 | AMAT | Applied Materials Inc | +1.5% | NEW | New buy |
| 3 | LRCX | Lam Research CORP | +1.2% | +2.22% | Add |
| 4 | MSFT | Microsoft CORP | +1.1% | +203.97% | Add |
| 5 | ARM | Arm Holdings Plc-adr | +1.1% | NEW | New buy |
| 6 | AMD | Advanced Micro Devices | +0.9% | +0.23% | Add |
| 7 | INTC | Intel CORP | +0.8% | +0.26% | Add |
| 8 | MCHP | Microchip Technology Inc | +0.7% | +72.83% | Add |
| 9 | NOK | Nokia Corp-spon Adr | +0.7% | NEW | New buy |
| 10 | MKSI | Mks Inc | +0.6% | NEW | New buy |
| 11 | SIMO | Silicon Motion Technol-adr | +0.5% | NEW | New buy |
| 12 | KLAC | Kla CORP | +0.4% | +637.49% | Add |
| 13 | APH | Amphenol Corp-cl A | +0.4% | +24.11% | Add |
| 14 | GLW | Corning Inc | +0.4% | NEW | New buy |
| 15 | NVT | nVent Electric plc | +0.3% | NEW | New buy |
| 16 | TWLO | Twilio Inc - A | +0.3% | +26.94% | Add |
| 17 | SOXX | Ishares Semiconductor ETF | +0.2% | +19.47% | Add |
| 18 | SPOT | Spotify Technology S.A. | +0.1% | NEW | New buy |
| 19 | ALAB | Astera Labs Inc | +0.1% | — | Unchanged |
| 20 | TSLA | Tesla Inc | +0.1% | +22.73% | Add |
| 21 | EQIX | Equinix Inc | +0.1% | +42.78% | Add |
| 22 | AVGO | Broadcom Inc | +0.1% | +6.42% | Add |
| 23 | CDNS | Cadence Design Sys Inc | +0.1% | — | Unchanged |
| 24 | PLTR | Palantir Technologies Inc-a | +0.1% | +66.67% | Add |
| 25 | DASH | Doordash Inc - A | +0.1% | +7.90% | Add |
| 26 | BABA | Alibaba Group Holding-sp Adr | +0.1% | +140.00% | Add |
| 27 | TER | Teradyne Inc | 0% | -22.46% | Trim |
| 28 | PWR | Quanta Services Inc | 0% | — | Unchanged |
| 29 | ✓ | 0% | NEW | New buy | |
| 30 | NAVN | Navan Inc-cl A | 0% | -18.67% | Trim |
| 31 | HNGE | Hinge Health Inc-a | 0% | -32.56% | Trim |
| 32 | ADI | Analog Devices Inc | — | +0.10% | Add |
| 33 | IREN | IREN Limited | — | +10.00% | Add |
| 34 | FROG | JFrog Ltd. | — | — | Unchanged |
| 35 | PCTY | Paylocity Holding CORP | — | — | Unchanged |
| 36 | DIA | Ss Spdr Dow Jones Indus Avg | 0% | — | Unchanged |
| 37 | GBTC | Grayscale Bitcoin Trust ETF | 0% | +30.43% | Add |
| 38 | ✓ | Bitdeer Technologies Group | 0% | EXIT | Sold out |
| 39 | ANRO | Alto Neuroscience Inc | 0% | -55.04% | Trim |
| 40 | TOST | Toast Inc-class A | 0% | — | Unchanged |
| 41 | MDGL | Madrigal Pharmaceuticals Inc | 0% | — | Unchanged |
| 42 | CMG | Chipotle Mexican Grill Inc | 0% | — | Unchanged |
| 43 | PATH | Uipath Inc - Class A | 0% | — | Unchanged |
| 44 | DLO | DLocal Limited | 0% | — | Unchanged |
| 45 | TDG | Transdigm Group Inc | 0% | — | Unchanged |
| 46 | SARO | Standardaero Inc | 0% | -29.12% | Trim |
| 47 | TLT | Ishares 20+ Year Treasury Bd | 0% | -9.39% | Trim |
| 48 | LOW | Lowe's Cos Inc | 0% | — | Unchanged |
| 49 | YMM | Full Truck Alliance -spn Adr | 0% | +5.62% | Add |
| 50 | YUM | Yum! Brands Inc | 0% | — | Unchanged |
1–50 of 99
Filing History
FAQ
What is Alkeon Capital Management LLC and what type of investor is it?
Alkeon Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $74.1B, spread across 203 disclosed positions.
What are Alkeon Capital Management LLC's largest equity positions?
Based on the latest 13F filing, Alkeon Capital Management LLC's top holdings by market value are:
1. Invesco Qqq Trust Series 1 (QQQ) — $18.5B (24.9%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $15.7B (21.2%)
3. Taiwan Semiconductor-sp Adr (TSM) — $2.5B (3.3%)
4. Lam Research CORP (LRCX) — $2.3B (3.1%)
5. Kla CORP (KLAC) — $1.7B (2.4%)
What changes did Alkeon Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Alkeon Capital Management LLC made 69 notable position adjustments: 9 new positions were initiated, 27 existing holdings were added to, 27 positions were partially reduced, and 6 were completely exited. The largest of these moves: New buy: Applied Materials Inc (AMAT); New buy: Arm Holdings Plc-adr (ARM); New buy: Nokia Corp-spon Adr (NOK); New buy: Mks Inc (MKSI); New buy: Silicon Motion Technol-adr (SIMO)
What sectors does Alkeon Capital Management LLC focus on?
Alkeon Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 61.2%
• Consumer Discretionary: 15.2%
• Communication Services: 6.5%
• Industrials: 6.2%
• Financials: 3.8%
• Utilities: 3.0%
Investment Profile
Alkeon Capital Management LLC returned an annualized 25.3% over the trailing 36 months — underperforming the S&P 500 by 0.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.24 (more volatile than the market) and a 61% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 61.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 33 over the past 4 quarters — a shift toward more active trading.
It has added to its MCHP position over the past two quarters (+$924.9M, now $1.1B), while trimming GOOGL over the same stretch (-$655.3M, still holding $1.3B).
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Developer Access
Access Alkeon Capital Management LLC's institutional profile programmatically:
REST API
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