CIK: 0001456228
Total reported value
$60.6B
Reporting period: 2026-03-31 · Number of holdings: 1660
DekaBank Deutsche Girozentrale disclosed 1660 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $60.6B and a quarterly turnover rate of 36.7%.
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DekaBank Deutsche Girozentrale's disclosed holdings carry a Herfindahl concentration index of 0.013 — mathematically equivalent to about 75 equally-sized positions, well below its 1660 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 3.70), 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.
Trim NVDA
-16.6% -$2.5B
Add GOOGL
-0.0% $1.2B
Trim AVGO
0.0% -$883.1M
Add AAPL
0.0% $742.8M
Trim MSFT
+2.0% -$456.6M
Add JNJ
0.0% $387.3M
The desk is actively trimming crowded mega-cap tech exposure, slicing NVDA weight from 5.0% to 0.7% and reducing share counts in GOOGL and AAPL despite price appreciation. Capital rotation flows squarely into TSLA (weight doubled) and a fresh AZN position, executing a clean positioning squeeze against the overaccumulated semiconductor and internet names.
This portfolio is pricing in a near-term liquidity trap within mega-cap IT valuations. The 100-point Momentum Contrarian score sits alongside a 1,101-security basket, signaling a mean-reversion trade funded by the current yield curve environment. The opposing thesis bets on sustained hyperscaler capex cycles driving earnings revisions that force short-covering in the broader AI infrastructure complex.
The structure suffers from severe allocation dilution (HHI 0.013). Price appreciation consistently outpaces new share accumulation across the top tier, meaning active adds like MSFT and GOOGL register as weight declines on paper. The strategy effectively operates as a liquidity rotation vehicle rather than a directional beta bet, leaving it highly vulnerable to volatility contraction where trading alpha vanishes.
Generated by AI based on public SEC filings. Reflects past holdings only and should not be treated as investment advice.
Showing top 200 holdings (of 1660 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.45% | +1.90% | -0.01% | |
| 2 | AAPL | Apple INC | Stock-Tech | 4.64% | +1.07% | — | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.62% | -1.01% | +2.02% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.65% | +0.09% | — | |
| 5 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.19% | +0.32% | — | |
| 6 | TTE | Totalenergies Se | Stock-Other | 1.82% | +1.82% | NEW | |
| 7 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.81% | +0.58% | — | |
| 8 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.69% | +0.44% | — | |
| 9 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.40% | +0.11% | — | |
| 10 | AZN | AstraZeneca PLC | Stock-Healthcare | 1.23% | +1.23% | NEW | |
| 11 | TSLA | Tesla INC | Stock-Consumer Disc | 1.20% | +0.51% | +0.01% | |
| 12 | CSCO | Cisco Systems INC | Stock-Tech | 1.12% | +0.34% | — | |
| 13 | MA | Mastercard INC - A | Stock-Financials | 1.11% | — | — | |
| 14 | ABBV | Abbvie INC | Stock-Healthcare | 1.09% | +0.15% | — | |
| 15 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.09% | -0.27% | -0.02% | |
| 16 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.08% | -0.26% | — | |
| 17 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 0.99% | -0.23% | +5.38% | |
| 18 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.98% | — | — | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 0.96% | — | — | |
| 20 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.80% | +0.25% | — | |
| 21 | KLAC | Kla CORP | Stock-Tech | 0.74% | +0.31% | — | |
| 22 | PEP | Pepsico INC | Stock-Consumer Staples | 0.72% | -0.20% | -0.02% | |
| 23 | LIN | Linde plc | Stock-Materials | 0.72% | — | — | |
| 24 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.71% | +0.36% | — | |
| 25 | PM | Philip Morris International | Stock-Consumer Staples | 0.70% | +0.24% | — | |
| 26 | NVDA | Nvidia CORP | Stock-Tech | 0.70% | -4.29% | -16.58% | |
| 27 | PH | Parker Hannifin CORP | Stock-Industrials | 0.69% | +0.20% | — | |
| 28 | CVX | Chevron CORP | Stock-Energy | 0.66% | — | — | |
| 29 | CRH | CRH plc | Stock-Materials | 0.65% | — | — | |
| 30 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.62% | -0.22% | — | |
| 31 | XOM | Exxon Mobil CORP | Stock-Energy | 0.62% | +0.13% | — | |
| 32 | DELL | Dell Technologies -c | Stock-Tech | 0.62% | — | — | |
| 33 | VZ | Verizon Communications INC | Stock-Comm Services | 0.61% | — | — | |
| 34 | MSI | Motorola Solutions INC | Stock-Tech | 0.59% | — | — | |
| 35 | MU | Micron Technology INC | Stock-Tech | 0.57% | +0.35% | — | |
| 36 | EMR | Emerson Electric Co | Stock-Industrials | 0.57% | — | — | |
| 37 | ACN | Accenture plc | Stock-Tech | 0.57% | -0.41% | — | |
| 38 | WMT | Walmart INC | Stock-Consumer Staples | 0.55% | +0.25% | — | |
| 39 | IBM | Intl Business Machines CORP | Stock-Tech | 0.54% | +0.11% | — | |
| 40 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.53% | +0.17% | — | |
| 41 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.53% | — | — | |
| 42 | ADI | Analog Devices INC | Stock-Tech | 0.53% | +0.14% | — | |
| 43 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.53% | — | — | |
| 44 | BAC | Bank Of America CORP | Stock-Financials | 0.51% | — | — | |
| 45 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.48% | — | — | |
| 46 | PWR | Quanta Services INC | Stock-Industrials | 0.48% | +0.22% | — | |
| 47 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.47% | +0.22% | — | |
| 48 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.47% | — | — | |
| 49 | COP | Conocophillips | Stock-Energy | 0.46% | — | — | |
| 50 | HD | Home Depot INC | Stock-Consumer Disc | 0.46% | — | — |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+20.9%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1660 | $60.6B | 37 | |
| 2025-12-31 | 1980 | $57.9B | 29 | |
| 2025-09-30 | 1976 | $59.4B | 22 | |
| 2025-06-30 | 1983 | $56.1B | 0 | |
| 2025-03-31 | 2002 | $51.0B | 100 | |
| 2024-12-31 | 2030 | $54.1B | 0 | |
| 2024-09-30 | 2043 | $53.9B | 0 | |
| 2024-06-30 | 2050 | $55.6B | 0 | |
| 2024-03-31 | 2050 | $53.7B | 0 | |
| 2023-12-31 | 2143 | $48.7B | 0 | |
| 2023-09-30 | 2159 | $43.4B | 0 | |
| 2023-06-30 | 1909 | $44.5B | 0 | |
| 2023-03-31 | 1925 | $39.7B | 0 | |
| 2022-12-31 | 1963 | $37.8B | 0 | |
| 2022-09-30 | 2004 | $33.8B | 0 | |
| 2022-06-30 | 2001 | $34.4B | 0 | |
| 2022-03-31 | 1948 | $41.0B | 0 | |
| 2021-12-31 | 2044 | $41.1B | 0 | |
| 2021-09-30 | 1977 | $35.8B | 0 | |
| 2021-06-30 | 1967 | $34.3B | 100 | |
| 2021-03-31 | 1924 | $30.1B | 20 | |
| 2020-12-31 | 2361 | $26.6B | 23 | |
| 2020-09-30 | 1728 | $22.5B | 39 | |
| 2020-06-30 | 1347 | $15.8B | 27 | |
| 2020-03-31 | 1351 | $13.1B | 34 | |
| 2019-12-31 | 1457 | $16.3B | 41 | |
| 2019-09-30 | 1114 | $16.1B | 37 | |
| 2019-06-30 | 1288 | $19.9B | 46 | |
| 2019-03-31 | 1344 | $16.8B | 34 | |
| 2018-12-31 | 1295 | $15.1B | 34 | |
| 2018-09-30 | 1382 | $16.9B | 18 | |
| 2018-06-30 | 1398 | $15.4B | 22 | |
| 2018-03-31 | 1340 | $14.6B | 36 | |
| 2017-12-31 | 1224 | $12.9B | 1 | |
| 2017-09-30 | 1239 | $12.8B | 11 | |
| 2017-06-30 | 1225 | $12.6B | 26 | |
| 2017-03-31 | 1131 | $10.9B | 27 | |
| 2016-12-31 | 1183 | $9.4B | 23 | |
| 2016-09-30 | 1166 | $9.0B | 35 | |
| 2016-06-30 | 1204 | $8.8B | 24 | |
| 2016-03-31 | 1244 | $8.4B | 28 | |
| 2015-12-31 | 1266 | $8.7B | 28 | |
| 2015-09-30 | 1869 | $8.2B | 25 | |
| 2015-06-30 | 1904 | $8.4B | 20 | |
| 2015-03-31 | 1885 | $8.0B | 20 | |
| 2014-12-31 | 1831 | $7.9B | 25 | |
| 2014-09-30 | 1566 | $7.4B | 21 | |
| 2014-06-30 | 1644 | $6.7B | 22 | |
| 2014-03-31 | 1599 | $6.3B | 29 | |
| 2013-12-31 | 917 | $6.1B | 15 | |
| 2013-09-30 | 906 | $5.7B | 25 | |
| 2013-06-30 | 1367 | $5.1B | — |
DekaBank Deutsche Girozentrale's most significant position changes for 2026-03-31: New buy: Totalenergies Se (TTE); New buy: AstraZeneca PLC (AZN); Sold out: Ansys INC (AKX); Trim: Nvidia CORP (NVDA) — shares -16.58%; Trim: Alphabet Inc-cl A (GOOGL) — shares -0.01%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.9% | -0.01% | Trim |
| 2 | AAPL | Apple INC | +1.1% | — | Trim |
| 3 | JNJ | Johnson & Johnson | +0.6% | — | Unchanged |
| 4 | TSLA | Tesla INC | +0.5% | +0.01% | Add |
| 5 | JPM | Jpmorgan Chase & Co | +0.4% | — | Unchanged |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.4% | — | Unchanged |
| 7 | MU | Micron Technology INC | +0.4% | — | Unchanged |
| 8 | CSCO | Cisco Systems INC | +0.3% | — | Unchanged |
| 9 | META | Meta Platforms Inc-class A | +0.3% | — | Unchanged |
| 10 | KLAC | Kla CORP | +0.3% | — | Unchanged |
| 11 | AEM | Agnico Eagle Mines LTD | +0.3% | — | Unchanged |
| 12 | GOOG | Alphabet Inc-cl C | +0.3% | — | Unchanged |
| 13 | WMT | Walmart INC | +0.3% | — | Unchanged |
| 14 | PM | Philip Morris International | +0.2% | — | Unchanged |
| 15 | PWR | Quanta Services INC | +0.2% | — | Unchanged |
| 16 | GILD | Gilead Sciences INC | +0.2% | — | Unchanged |
| 17 | PH | Parker Hannifin CORP | +0.2% | — | Unchanged |
| 18 | WPM | Wheaton Precious Metals CORP | +0.2% | — | Unchanged |
| 19 | TJX | Tjx Companies INC | +0.2% | — | Unchanged |
| 20 | CAT | Caterpillar INC | +0.2% | — | Unchanged |
| 21 | TER | Teradyne INC | +0.2% | — | Unchanged |
| 22 | GEV | GE Vernova INC | +0.2% | — | Unchanged |
| 23 | ABBV | Abbvie INC | +0.2% | — | Unchanged |
| 24 | ADI | Analog Devices INC | +0.1% | — | Unchanged |
| 25 | VRT | Vertiv Holdings Co-a | +0.1% | — | Unchanged |
| 26 | XOM | Exxon Mobil CORP | +0.1% | — | Unchanged |
| 27 | AMAT | Applied Materials INC | +0.1% | — | Unchanged |
| 28 | LLY | Eli Lilly & Co | +0.1% | — | Unchanged |
| 29 | IBM | Intl Business Machines CORP | +0.1% | — | Unchanged |
| 30 | AMZN | Amazon.com INC | +0.1% | — | Unchanged |
| 31 | HTHT | H World Group Ltd-adr | -0.2% | — | Unchanged |
| 32 | INTU | Intuit INC | -0.2% | — | Unchanged |
| 33 | ELV | Elevance Health INC | -0.2% | — | Unchanged |
| 34 | PEP | Pepsico INC | -0.2% | -0.02% | Trim |
| 35 | TMO | Thermo Fisher Scientific INC | -0.2% | — | Unchanged |
| 36 | DB | Deutsche Bank Aktiengesellschaft | -0.2% | +5.38% | Add |
| 37 | CRM | Salesforce INC | -0.3% | — | Unchanged |
| 38 | MRK | Merck & Co. INC. | -0.3% | — | Unchanged |
| 39 | PG | Procter & Gamble Co/the | -0.3% | -0.02% | Trim |
| 40 | NFLX | Netflix INC | -0.3% | +0.43% | Add |
| 41 | ADBE | Adobe INC | -0.4% | — | Unchanged |
| 42 | ACN | Accenture plc | -0.4% | — | Unchanged |
| 43 | UNH | Unitedhealth Group INC | -0.4% | — | Unchanged |
| 44 | NOW | Servicenow INC | -0.5% | — | Unchanged |
| 45 | MSFT | Microsoft CORP | -1% | +2.02% | Add |
| 46 | AVGO | Broadcom INC | -1.6% | — | Unchanged |
| 47 | NVDA | Nvidia CORP | -4.3% | -16.58% | Trim |
| 48 | TTE | Totalenergies Se | — | NEW | New buy |
| 49 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 50 | AKX | Ansys INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-28 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-03 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-30 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-30 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-29 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-24 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-08 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-06-04 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-04-24 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-24 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-25 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-24 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-01 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-02 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-03 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-28 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-02 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-22 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-05 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-28 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-03-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-29 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-04 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-04 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-01 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-03 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-02 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-02 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-20 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-08 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-04 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-25 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-06 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-06 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-06 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-08 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-11 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-07 | 13F-HR | View on EDGAR |
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