DB
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main — 13F Portfolio Analysis & Stock Picks (Q2 2026)
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am MainCIK: 0001694217
Diversified strategyMomentum follower
Total reported value
$130.4B
Reporting period: 2026-06-30 · Number of holdings: 2197
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main disclosed 2197 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $130.4B and a quarterly turnover rate of 32.3%.
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Personality snowflake
- Concentration
- 7.41
- Portfolio Stability
- 32.25
- Momentum
- 100
- Sector conviction
- 55.83
- Diversification
- 100
- Sizing Uniformity
- 57.03
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 54 equally-sized positions, well below its 2197 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 4.30), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd DB
+447.8% $1.5B
Trim META
-42.4% -$956.6M
Add AMAT
-6.1% $1.5B
Trim TTE
-19.6% -$761.8M
Add AMD
+175.5% $954.1M
Add MU
-17.1% $997.4M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
DZ Bank's Q2 2026 book remains radically diversified — 1,050 positions, an HHI of just 0.019 — with a moderate 32% turnover ratio. The active flow skews toward semiconductors: fresh adds in AMD (0.12%→0.84%) and INTC (0.08%→0.77%), a roughly sixfold weight build in Deutsche Bank (0.24%→1.34%), and incremental adds to GOOGL and AMZN, while META was cut approximately in half (1.96%→0.96%). Notably, AMAT and MU were trimmed in share count yet their weights still jumped (to 2.37% and 1.18%), suggesting price appreciation outran the selling; the filing does not disclose share-change magnitudes, so trade sizing beyond these weight shifts cannot be verified.
Macro & Fundamentals
These flows appear to track the ongoing AI-infrastructure capital cycle — broadening from a handful of mega-cap platforms into the wider semiconductor supply chain (equipment, memory, accelerators, and a legacy-foundry recovery story) — while the DB add echoes strength in European financials. With only a single quarter of data, this is an inference drawn from positioning patterns rather than a confirmed causal claim.
Blind Spots / Risks
The headline diversification is partly illusory: Information Technology sits at 36.1% of the book — roughly triple the next-largest sector (Financials, 11.9%) — and four of the eight largest reported changes are semiconductor names, so a disorderly unwind or positioning squeeze in the AI/semi complex would hit the portfolio far harder than its 1,050-name count implies. The AMAT/MU pattern of trimming shares while weights rise further suggests that market drift, not active de-risking, is currently setting the portfolio's true risk level.
Produced with AI assistance from this institution's Form 13F data on SEC EDGAR. Historical only; not a personalized investment recommendation — the original filing is linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 2197 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.52% | -0.48% | -5.28% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.86% | -0.11% | -0.75% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.58% | +0.46% | +6.78% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.55% | +0.38% | +12.94% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 3.35% | -0.56% | -1.68% | |
| 6 | AMAT | Applied Materials Inc | Stock-Tech | 2.37% | +0.99% | -6.12% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.02% | +0.05% | +6.49% | |
| 8 | AVGO | Broadcom Inc | Stock-Tech | 2.02% | -0.17% | -12.73% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.87% | +0.34% | +14.96% | |
| 10 | WELL | Welltower Inc | Stock-Real Estate | 1.85% | +0.31% | +21.16% | |
| 11 | ARM | Arm Holdings Plc-adr | Stock-Tech | 1.77% | +0.45% | -33.81% | |
| 12 | AZN | AstraZeneca PLC | Stock-Healthcare | 1.68% | -0.55% | -9.41% | |
| 13 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.56% | +0.30% | -41.76% | |
| 14 | BAC | Bank Of America CORP | Stock-Financials | 1.50% | +0.07% | +3.77% | |
| 15 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 1.34% | +1.10% | +447.77% | |
| 16 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.23% | +0.20% | +5.99% | |
| 17 | WMT | Walmart Inc | Stock-Consumer Staples | 1.22% | -0.49% | -9.55% | |
| 18 | TTE | TotalEnergies SE | Stock-Other | 1.21% | -0.86% | -19.62% | |
| 19 | UNP | Union Pacific CORP | Stock-Industrials | 1.20% | +0.13% | +15.79% | |
| 20 | PH | Parker Hannifin CORP | Stock-Industrials | 1.19% | -0.06% | +0.75% | |
| 21 | MU | Micron Technology Inc | Stock-Tech | 1.18% | +0.70% | -17.05% | |
| 22 | AXP | American Express Co | Stock-Financials | 1.13% | -0.05% | -0.67% | |
| 23 | CRH | CRH plc | Stock-Materials | 1.09% | -0.01% | +12.66% | |
| 24 | MA | Mastercard Inc - A | Stock-Financials | 1.08% | +0.50% | +107.91% | |
| 25 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 1.06% | -0.21% | -5.39% | |
| 26 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.05% | -0.29% | -12.87% | |
| 27 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.96% | -1.00% | -42.43% | |
| 28 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 0.90% | -0.01% | +1.49% | |
| 29 | MCK | Mckesson CORP | Stock-Healthcare | 0.89% | +0.09% | +46.97% | |
| 30 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.87% | +0.06% | +30.42% | |
| 31 | AMD | Advanced Micro Devices | Stock-Tech | 0.84% | +0.72% | +175.55% | |
| 32 | C | Citigroup Inc | Stock-Financials | 0.84% | +0.17% | +16.07% | |
| 33 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.83% | -0.14% | +4.28% | |
| 34 | PLD | Prologis Inc | Stock-Real Estate | 0.81% | -0.19% | -9.19% | |
| 35 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.79% | +0.03% | +12.73% | |
| 36 | LRCX | Lam Research CORP | Stock-Tech | 0.78% | +0.35% | +4.16% | |
| 37 | INTC | Intel CORP | Stock-Tech | 0.77% | +0.69% | +274.48% | |
| 38 | BKR | Baker Hughes Co | Stock-Energy | 0.76% | +0.02% | +29.16% | |
| 39 | NET | Cloudflare Inc - Class A | Stock-Tech | 0.74% | -0.24% | -27.02% | |
| 40 | PWR | Quanta Services Inc | Stock-Industrials | 0.74% | -0.33% | -39.51% | |
| 41 | URI | United Rentals Inc | Stock-Industrials | 0.72% | +0.12% | -11.11% | |
| 42 | ORCL | Oracle CORP | Stock-Tech | 0.67% | +0.12% | +40.91% | |
| 43 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 0.65% | -0.17% | -16.24% | |
| 44 | MDB | Mongodb Inc | Stock-Tech | 0.65% | +0.23% | +28.76% | |
| 45 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.64% | +0.21% | +22.36% | |
| 46 | GE | General Electric | Stock-Industrials | 0.61% | +0.08% | +0.54% | |
| 47 | AON | Aon plc | Stock-Financials | 0.57% | -0.27% | -23.49% | |
| 48 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.57% | -0.06% | -7.34% | |
| 49 | ABBV | Abbvie Inc | Stock-Healthcare | 0.56% | +0.35% | +164.42% | |
| 50 | APH | Amphenol Corp-cl A | Stock-Tech | 0.51% | +0.12% | +7.40% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.6%
Performance Last 4 Quarters
+18.7%
- Stdev
- +14%
- Beta
- +1.06
- Alpha
- -1.9%
- Max Drawdown
- -9.2%
- Annualized Perf
- +20%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.8
- Stutzer
- +0.41
- Treynor
- +0.18
- Sterling
- +1.22
- Calmar
- +2.17
- Information Ratio
- -0.24
- Tracking Error
- +2.8%
- Stdev Down
- +6.9%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +34.9%
- Worst 12 Months
- +1.8%
- Efficiency Ratio
- +0.6
- Sharpe
- +1.38
- Stdev Sectors
- +9.3%
- Skewness
- +0.09
- Kurtosis
- +0.23
- Upside Potential
- +4.31
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 2197 | $130.4B | 32 | ||
| 2026 Q1 | 2354 | $112.7B | 41 | ||
| 2025 Q4 | 2288 | $115.8B | 39 | ||
| 2025 Q3 | 2250 | $114.2B | 62 | ||
| 2025 Q2 | 2182 | $100.1B | 0 | ||
| 2025 Q1 | 2249 | $89.3B | 65 | ||
| 2024 Q4 | 2079 | $98.6B | 0 | ||
| 2024 Q3 | 2140 | $102.0B | 36 | ||
| 2024 Q2 | 2203 | $97.6B | 40 | ||
| 2024 Q1 | 2198 | $93.2B | 41 | ||
| 2023 Q4 | 2098 | $80.4B | 37 | ||
| 2023 Q3 | 2093 | $70.4B | 36 | ||
| 2023 Q2 | 2104 | $66.5B | 100 | ||
| 2023 Q1 | 2127 | $60.8B | 0 | ||
| 2022 Q4 | 2104 | $57.4B | 34 | ||
| 2022 Q3 | 2056 | $52.9B | 100 | ||
| 2022 Q2 | 2067 | $55.5B | 0 | ||
| 2022 Q1 | 2032 | $66.7B | 100 | ||
| 2021 Q4 | 2042 | $70.5B | 0 | ||
| 2021 Q3 | 2043 | $62.7B | 100 | ||
| 2021 Q2 | 1995 | $61.6B | 0 | ||
| 2021 Q1 | 1905 | $54.3B | 43 | ||
| 2020 Q4 | 1835 | $47.2B | 100 | ||
| 2020 Q3 | 1776 | $41.7B | 0 | ||
| 2020 Q2 | 1728 | $36.4B | 0 | ||
| 2020 Q1 | 1713 | $29.5B | 46 | ||
| 2019 Q4 | 1597 | $38.2B | 100 | ||
| 2019 Q3 | 1596 | $33.6B | 0 | ||
| 2019 Q2 | 1500 | $32.4B | 38 | ||
| 2019 Q1 | 1475 | $30.8B | 43 | ||
| 2018 Q4 | 1501 | $25.8B | 55 | ||
| 2018 Q3 | 1502 | $28.1B | 100 | ||
| 2018 Q2 | 1646 | $27.1B | 0 | ||
| 2018 Q1 | 2179 | $25.8B | 30 | ||
| 2017 Q4 | 1609 | $26.1B | 23 | ||
| 2017 Q3 | 1653 | $24.1B | 26 | ||
| 2017 Q2 | 1737 | $21.6B | 26 | ||
| 2017 Q1 | 1783 | $22.0B | 31 | ||
| 2016 Q4 | 1609 | $20.7B | 0 |
Holding changes this quarter
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main's most significant position changes for 2026-06-30: New buy: ; New buy: ; New buy: ; New buy: Devon Energy CORP (DVN); New buy: .
Showing top 200 changes by size (of 1136 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DB | Deutsche Bank Aktiengesellschaft | +1.1% | +447.77% | Add |
| 2 | AMAT | Applied Materials Inc | +1% | -6.12% | Trim |
| 3 | AMD | Advanced Micro Devices | +0.7% | +175.55% | Add |
| 4 | MU | Micron Technology Inc | +0.7% | -17.05% | Trim |
| 5 | INTC | Intel CORP | +0.7% | +274.48% | Add |
| 6 | MA | Mastercard Inc - A | +0.5% | +107.91% | Add |
| 7 | GOOGL | Alphabet Inc-cl A | +0.5% | +6.78% | Add |
| 8 | ARM | Arm Holdings Plc-adr | +0.5% | -33.81% | Trim |
| 9 | AMZN | Amazon.com Inc | +0.4% | +12.94% | Add |
| 10 | LRCX | Lam Research CORP | +0.4% | +4.16% | Add |
| 11 | ABBV | Abbvie Inc | +0.4% | +164.42% | Add |
| 12 | GOOG | Alphabet Inc-cl C | +0.3% | +14.96% | Add |
| 13 | HOOD | Robinhood Markets Inc - A | +0.3% | +4148.84% | Add |
| 14 | WELL | Welltower Inc | +0.3% | +21.16% | Add |
| 15 | STX | Seagate Technology Holdings plc | +0.3% | -41.76% | Trim |
| 16 | TXN | Texas Instruments Inc | +0.3% | +195.99% | Add |
| 17 | MDB | Mongodb Inc | +0.2% | +28.76% | Add |
| 18 | CASY | Casey's General Stores Inc | +0.2% | +86.64% | Add |
| 19 | FIX | Comfort Systems USA Inc | +0.2% | +144.67% | Add |
| 20 | SBUX | Starbucks CORP | +0.2% | +1387.54% | Add |
| 21 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +22.36% | Add |
| 22 | KLAC | Kla CORP | +0.2% | +2049.88% | Add |
| 23 | LLY | Eli Lilly & Co | +0.2% | +5.99% | Add |
| 24 | MDLN | Medline Inc-cl A | +0.2% | +172.69% | Add |
| 25 | HAL | Halliburton Co | +0.2% | +48387.97% | Add |
| 26 | AME | Ametek Inc | +0.2% | +79.62% | Add |
| 27 | C | Citigroup Inc | +0.2% | +16.07% | Add |
| 28 | LIN | Linde plc | +0.2% | +65.34% | Add |
| 29 | BLK | Blackrock Inc | +0.2% | +99.44% | Add |
| 30 | PG | Procter & Gamble Co/the | +0.2% | +102.32% | Add |
| 31 | UNP | Union Pacific CORP | +0.1% | +15.79% | Add |
| 32 | URI | United Rentals Inc | +0.1% | -11.11% | Trim |
| 33 | ORCL | Oracle CORP | +0.1% | +40.91% | Add |
| 34 | APH | Amphenol Corp-cl A | +0.1% | +7.40% | Add |
| 35 | ETN | Eaton Corporation plc | +0.1% | +73.30% | Add |
| 36 | SNOW | Snowflake Inc | +0.1% | +19.87% | Add |
| 37 | ✓ | +0.1% | NEW | New buy | |
| 38 | MCK | Mckesson CORP | +0.1% | +46.97% | Add |
| 39 | WAB | Wabtec CORP | +0.1% | +125.03% | Add |
| 40 | RACE | Ferrari N.V. | +0.1% | +244.96% | Add |
| 41 | SYK | Stryker CORP | +0.1% | +389.04% | Add |
| 42 | GE | General Electric | +0.1% | +0.54% | Add |
| 43 | CVS | Cvs Health CORP | +0.1% | +2.64% | Add |
| 44 | GEV | GE Vernova Inc | +0.1% | +9.34% | Add |
| 45 | LYV | Live Nation Entertainment In | +0.1% | +36.61% | Add |
| 46 | CFG | Citizens Financial Group | +0.1% | +19279.70% | Add |
| 47 | BAC | Bank Of America CORP | +0.1% | +3.77% | Add |
| 48 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +12.23% | Add |
| 49 | SPOT | Spotify Technology S.A. | +0.1% | +30.42% | Add |
| 50 | JPM | Jpmorgan Chase & Co | +0.1% | +6.49% | Add |
1–50 of 200
Filing History
FAQ
What is DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main and what type of investor is it?
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 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 $130.4B, spread across 2197 disclosed positions.
What are DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main's largest equity positions?
Based on the latest 13F filing, DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main's top holdings by market value are:
1. Nvidia CORP (NVDA) — $9.8B (7.5%)
2. Apple Inc (AAPL) — $6.3B (4.9%)
3. Alphabet Inc-cl A (GOOGL) — $4.7B (3.6%)
4. Amazon.com Inc (AMZN) — $4.6B (3.5%)
5. Microsoft CORP (MSFT) — $4.4B (3.4%)
What changes did DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main make in its most recent portfolio filing?
In the latest reported quarter, DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main made 200 notable position adjustments: 13 new positions were initiated, 97 existing holdings were added to, 87 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: ; New buy: ; New buy: ; New buy: Devon Energy CORP (DVN); New buy:
What sectors does DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main focus on?
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.1%
• Financials: 11.9%
• Health Care: 11.0%
• Industrials: 10.9%
• Communication Services: 8.3%
• Consumer Discretionary: 8.1%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main returned an annualized 20.0% over the trailing 36 months — underperforming the S&P 500 by 1.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.06 (roughly in line with the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 36.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 32 over the past 4 quarters — a shift toward more active trading.
It has added to its ARM position over the past two quarters (+$2.1B, now $2.3B), while trimming MSFT over the same stretch (-$2.3B, still holding $4.4B).
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Developer Access
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