CIK: 0001908923
Total reported value
$18.3B
Reporting period: 2026-06-30 · Number of holdings: 503
Czech National Bank disclosed 503 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $18.3B and a quarterly turnover rate of 23.3%.
Browse other institutions with $10B to $100B AUMBrowse other institutions starting with "C"
Czech National Bank's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 51 equally-sized positions, well below its 503 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 2.97), 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.
Add MU
+4.7% $267.0M
Add AMD
+4.5% $179.3M
Add INTC
+5.2% $131.3M
Trim MSFT
+4.6% $40.1M
Add AMAT
+4.5% $89.4M
New buy MRVL
Czech National Bank is not acting like a reserve manager this quarter. This is a deliberate, high-conviction hunt for alpha, loading up on distressed semiconductor names (MU, AMD, INTC) while holding a massive 39% technology weighting. They are not rotating capital; they are deepening a tactical bet on semis recovery.
The fund is embedding a bet that the semiconductor cycle has bottomed and that AI capex will reignite demand for memory and logic chips. The opposing thesis is equally sharp: AI spend is peaking, semis are a crowded trade, and central bank portfolios should not be taking single-stock timing risk.
The structural vulnerability is that the portfolio's performance is now entirely hostage to the semiconductor sub-sector. If the expected recovery fails to materialize, the drawdown will be amplified by the complete lack of sector hedging. The central bank's capital preservation mandate is effectively subordinated to a tactical conviction on INTC and MU.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Showing top 200 holdings (of 503 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.52% | -0.06% | +4.17% | |
| 2 | AAPL | Apple INC | Stock-Tech | 6.59% | -0.08% | +4.56% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.30% | -0.62% | +4.55% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.62% | -0.02% | +4.73% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.25% | +0.26% | +5.26% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 2.77% | +0.14% | +4.37% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.59% | +0.19% | +5.62% | |
| 8 | MU | Micron Technology INC | Stock-Tech | 2.02% | +1.34% | +4.72% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.92% | — | +4.94% | |
| 10 | TSLA | Tesla INC | Stock-Consumer Disc | 1.84% | -0.03% | +4.62% | |
| 11 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.47% | +0.17% | +4.33% | |
| 12 | AMD | Advanced Micro Devices | Stock-Tech | 1.47% | +0.88% | +4.53% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.42% | -0.15% | +4.49% | |
| 14 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.36% | -0.06% | +3.87% | |
| 15 | INTC | Intel CORP | Stock-Tech | 1.02% | +0.65% | +5.16% | |
| 16 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.95% | — | +4.40% | |
| 17 | AMAT | Applied Materials INC | Stock-Tech | 0.89% | +0.40% | +4.50% | |
| 18 | V | Visa Inc-class A Shares | Stock-Financials | 0.88% | -0.03% | +3.18% | |
| 19 | XOM | Exxon Mobil CORP | Stock-Energy | 0.88% | -0.39% | +3.66% | |
| 20 | LRCX | Lam Research CORP | Stock-Tech | 0.84% | +0.36% | +4.66% | |
| 21 | WMT | Walmart INC | Stock-Consumer Staples | 0.77% | — | +4.52% | |
| 22 | CAT | Caterpillar INC | Stock-Industrials | 0.76% | +0.17% | +3.46% | |
| 23 | CSCO | Cisco Systems INC | Stock-Tech | 0.72% | +0.17% | +4.48% | |
| 24 | ABBV | Abbvie INC | Stock-Healthcare | 0.69% | — | +4.48% | |
| 25 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.64% | — | +4.46% | |
| 26 | MA | Mastercard INC - A | Stock-Financials | 0.64% | — | +3.55% | |
| 27 | KLAC | Kla CORP | Stock-Tech | 0.61% | +0.26% | +941.56% | |
| 28 | GE | General Electric | Stock-Industrials | 0.60% | +0.07% | +3.97% | |
| 29 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.59% | +0.15% | +4.78% | |
| 30 | BAC | Bank Of America CORP | Stock-Financials | 0.58% | — | +2.83% | |
| 31 | HD | Home Depot INC | Stock-Consumer Disc | 0.54% | — | +4.57% | |
| 32 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.53% | — | +4.72% | |
| 33 | SNDK | Sandisk CORP | Stock-Tech | 0.52% | +0.35% | +4.86% | |
| 34 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.49% | — | +4.00% | |
| 35 | GEV | GE Vernova INC | Stock-Industrials | 0.49% | +0.07% | +4.20% | |
| 36 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.49% | — | +4.53% | |
| 37 | CVX | Chevron CORP | Stock-Energy | 0.48% | -0.21% | +4.38% | |
| 38 | NFLX | Netflix INC | Stock-Comm Services | 0.47% | -0.26% | +4.23% | |
| 39 | GS | Goldman Sachs Group INC | Stock-Financials | 0.46% | +0.01% | +2.80% | |
| 40 | PM | Philip Morris International | Stock-Consumer Staples | 0.44% | — | +4.64% | |
| 41 | PANW | Palo Alto Networks INC | Stock-Tech | 0.43% | +0.20% | +4.89% | |
| 42 | TXN | Texas Instruments INC | Stock-Tech | 0.42% | +0.10% | +4.81% | |
| 43 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.42% | -0.18% | +5.05% | |
| 44 | IBM | Intl Business Machines CORP | Stock-Tech | 0.41% | — | +5.09% | |
| 45 | MRVL | Marvell Technology INC | Stock-Tech | 0.40% | +0.40% | NEW | |
| 46 | RTX | Rtx CORP | Stock-Industrials | 0.40% | — | +4.86% | |
| 47 | WFC | Wells Fargo & Co | Stock-Financials | 0.39% | — | +3.42% | |
| 48 | MS | Morgan Stanley | Stock-Financials | 0.39% | +0.04% | +4.14% | |
| 49 | ORCL | Oracle CORP | Stock-Tech | 0.39% | — | +4.58% | |
| 50 | LIN | Linde plc | Stock-Materials | 0.37% | — | +3.48% |
Performance for Q3 2026
+3.1%
Performance Last 4 Quarters
+22.5%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-06-30 | 503 | $18.3B | 23 | |
| 2026-03-31 | 503 | $15.2B | 13 | |
| 2025-12-31 | 503 | $15.4B | 11 | |
| 2025-09-30 | 503 | $14.5B | 29 | |
| 2025-06-30 | 504 | $12.8B | 0 | |
| 2025-03-31 | 503 | $10.9B | 0 | |
| 2024-12-31 | 503 | $10.8B | 0 | |
| 2024-09-30 | 504 | $9.9B | 0 | |
| 2024-06-30 | 503 | $8.7B | 0 | |
| 2024-03-31 | 503 | $7.8B | 0 | |
| 2023-12-31 | 503 | $7.0B | 0 | |
| 2023-09-30 | 503 | $6.3B | 0 | |
| 2023-06-30 | 503 | $4.4B | 0 | |
| 2023-03-31 | 503 | $4.0B | 0 | |
| 2022-12-31 | 503 | $3.8B | 0 | |
| 2022-09-30 | 503 | $3.5B | 0 |
Czech National Bank's most significant position changes for 2026-06-30: New buy: Marvell Technology INC (MRVL); Sold out: Honeywell International INC (HON); New buy: ; New buy: ; New buy: Flex Ltd. (FLEX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology INC | +1.3% | +4.72% | Add |
| 2 | AMD | Advanced Micro Devices | +0.9% | +4.53% | Add |
| 3 | INTC | Intel CORP | +0.7% | +5.16% | Add |
| 4 | AMAT | Applied Materials INC | +0.4% | +4.50% | Add |
| 5 | MRVL | Marvell Technology INC | +0.4% | NEW | New buy |
| 6 | LRCX | Lam Research CORP | +0.4% | +4.66% | Add |
| 7 | SNDK | Sandisk CORP | +0.4% | +4.86% | Add |
| 8 | GOOGL | Alphabet Inc-cl A | +0.3% | +5.26% | Add |
| 9 | KLAC | Kla CORP | +0.3% | +941.56% | Add |
| 10 | PANW | Palo Alto Networks INC | +0.2% | +4.89% | Add |
| 11 | GOOG | Alphabet Inc-cl C | +0.2% | +5.62% | Add |
| 12 | STX | Seagate Technology Holdings plc | +0.2% | +7.46% | Add |
| 13 | WDC | Western Digital CORP | +0.2% | +6.25% | Add |
| 14 | LLY | Eli Lilly & Co | +0.2% | +4.33% | Add |
| 15 | CAT | Caterpillar INC | +0.2% | +3.46% | Add |
| 16 | CSCO | Cisco Systems INC | +0.2% | +4.48% | Add |
| 17 | UNH | Unitedhealth Group INC | +0.2% | +4.78% | Add |
| 18 | AVGO | Broadcom INC | +0.1% | +4.37% | Add |
| 19 | CRWD | Crowdstrike Holdings INC - A | +0.1% | +5.52% | Add |
| 20 | GLW | Corning INC | +0.1% | +4.84% | Add |
| 21 | ✓ | +0.1% | NEW | New buy | |
| 22 | ✓ | +0.1% | NEW | New buy | |
| 23 | TXN | Texas Instruments INC | +0.1% | +4.81% | Add |
| 24 | DELL | Dell Technologies -c | +0.1% | +1.73% | Add |
| 25 | FLEX | Flex Ltd. | +0.1% | NEW | New buy |
| 26 | GE | General Electric | +0.1% | +3.97% | Add |
| 27 | GEV | GE Vernova INC | +0.1% | +4.20% | Add |
| 28 | APH | Amphenol Corp-cl A | +0.1% | +4.60% | Add |
| 29 | DDOG | Datadog INC - Class A | +0.1% | +5.33% | Add |
| 30 | QCOM | Qualcomm INC | +0.1% | +3.24% | Add |
| 31 | MS | Morgan Stanley | 0% | +4.14% | Add |
| 32 | ANET | Arista Networks INC | 0% | +4.51% | Add |
| 33 | C | Citigroup INC | 0% | +2.01% | Add |
| 34 | GS | Goldman Sachs Group INC | 0% | +2.80% | Add |
| 35 | ABBV | Abbvie INC | — | +4.48% | Add |
| 36 | BAC | Bank Of America CORP | — | +2.83% | Add |
| 37 | AMZN | Amazon.com INC | 0% | +4.73% | Add |
| 38 | TSLA | Tesla INC | 0% | +4.62% | Add |
| 39 | V | Visa Inc-class A Shares | 0% | +3.18% | Add |
| 40 | NVDA | Nvidia CORP | -0.1% | +4.17% | Add |
| 41 | JPM | Jpmorgan Chase & Co | -0.1% | +3.87% | Add |
| 42 | AAPL | Apple INC | -0.1% | +4.56% | Add |
| 43 | T | At&t INC | -0.1% | +3.73% | Add |
| 44 | BRK-B | Berkshire Hathaway Inc-cl B | -0.2% | +4.49% | Add |
| 45 | PLTR | Palantir Technologies Inc-a | -0.2% | +5.05% | Add |
| 46 | CVX | Chevron CORP | -0.2% | +4.38% | Add |
| 47 | HON | Honeywell International INC | -0.3% | EXIT | Sold out |
| 48 | NFLX | Netflix INC | -0.3% | +4.23% | Add |
| 49 | XOM | Exxon Mobil CORP | -0.4% | +3.66% | Add |
| 50 | MSFT | Microsoft CORP | -0.6% | +4.55% | Add |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-06-30 | 2026-07-08 | 13F-HR | View on EDGAR |
| 2026-03-31 | 2026-04-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-08 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-09 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-09 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-07 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-10-03 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-19 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-17 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-18 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-31 | 13F-HR | View on EDGAR |
Institutions with a similar AUM
CIK 0001540880
Total reported value
$18.3B
538 stks
2026-03-31
AUM within 0.0% of this institution
CIK 0001045810
Total reported value
$18.4B
7 stks
2026-03-31
AUM within 0.1% of this institution
CIK 0000887777
Total reported value
$18.4B
1,302 stks
2026-03-31
AUM within 0.2% of this institution
Institutions with overlapping top holdings
CIK 0000002230
Total reported value
$2.8B
99 stks
2026-03-31
5 of the top 5 holdings overlap, including Nvidia CORP
CIK 0000038777
Total reported value
$408.3B
14,782 stks
2026-03-31
5 of the top 5 holdings overlap, including Nvidia CORP
CIK 0000073124
Total reported value
$756.6B
19,864 stks
2026-03-31
5 of the top 5 holdings overlap, including Nvidia CORP