UBS AG

Diversified strategyMomentum follower

Total reported value

$135.6B

Reporting period: 2014-09-30 · Number of holdings: 15317

UBS AG disclosed 15317 holdings in its latest 13F filing for the period ending 2014-09-30, with total reported value of $135.6B and a quarterly turnover rate of 22.8%.

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Personality snowflake

Concentration: 3.16
Portfolio Stability: 22.85
Momentum/Contrarian: 68.84
Sector conviction: 47.06
Diversification: 100
Sizing Uniformity: 27.99

Recent moves

Trim 9990302D
-82.7%　-$692.1M
Trim EFA
-18.1%　-$441.1M
Trim WY
-95.9%　-$487.6M
Add AMGN
+186.1%　$473.5M
Trim 307000109
-91.3%　-$392.1M
Trim SPY
+0.8%　$127.8M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

UBS is rotating capital out of developed international equities (EFA trimmed from 1.49% to 1.08%) and cyclical domestic names (WY, HTZ cut to near zero) to fund an emerging market pivot (EEM + IEMG added 0.50% combined) and a healthcare conviction bet (AMGN tripled to 0.5%). This is an active rotation telegraphing a bearish view on developed markets and a bullish call on EM recovery and biotech momentum.

Macro & Fundamentals

The portfolio is pricing in a regime shift where EM outperforms as dollar strength subsides, commodity terms of trade improve, and global growth re-accelerates—exactly the reflation trade. The opposing thesis holds that the dollar remains in a long-term uptrend on Fed tightening, EM current accounts are still fragile, and healthcare multiples are in a speculative bubble that will correct at the first hint of rate normalization.

Blind Spots / Risks

The blind spot is a quiet crisis of conviction: with a diversification score of 100 and a position-sizing discipline of 27.99, the portfolio is overwhelmingly beta-driven, yet these active moves telegraph a macro call the fund is too diffuse to monetize. The structural vulnerability is that the EM and healthcare tilts are so small they will be drowned by market noise, but even executing them incurs friction that erodes any potential edge—a negative-sum game masquerading as active management.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 6687 holdings (of 15317 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	6.72%	-0.31%	+0.75%
2	AAPL	Apple INC	Stock-Tech	2.35%	-0.24%	-11.22%
3	EEM	Ishares Msci Emerging Market	ETF-Emerging Markets	1.61%	+0.27%	+32.54%
4	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	1.47%	+0.03%	+17.80%
5	UBS	UBS Group AG	Stock-Financials	1.33%	-0.18%	-1.92%
6	EFA	Ishares Msci Eafe ETF	ETF-Other	1.08%	-0.41%	-18.10%
7	MSFT	Microsoft CORP	Stock-Tech	1.05%	+0.15%	+12.12%
8	INTC	Intel CORP	Stock-Tech	0.91%	+0.17%	+15.06%
9	JNJ	Johnson & Johnson	Stock-Healthcare	0.90%	+0.04%	+8.78%
10	OXY	Occidental Petroleum CORP	Stock-Energy	0.83%	+0.19%	+47.65%
11	KO	Coca-cola Co/the	Stock-Consumer Staples	0.68%	—	+8.05%
12	QCOM	Qualcomm INC	Stock-Tech	0.66%	—	+11.90%
13	AEP	American Electric Power Company, Inc.	Stock-Utilities	0.65%	—	+12.48%
14	TEVA	Teva Pharmaceutical-sp Adr	Stock-Healthcare	0.65%	—	+3.08%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	0.63%	—	+1.15%
16	XOM	Exxon Mobil CORP	Stock-Energy	0.59%	—	+12.20%
17	GILD	Gilead Sciences INC	Stock-Healthcare	0.55%	+0.06%	-7.23%
18	BAC	Bank Of America CORP	Stock-Financials	0.55%	+0.10%	+15.07%
19	GLD	Spdr Gold Shares	ETF-Commodities	0.54%	—	+27.58%
20	MRK	Merck & Co. INC.	Stock-Healthcare	0.53%	+0.06%	+18.54%
21	EPD	Enterprise Products Partners	Stock-Energy	0.51%	—	+98.36%
22	✓	Yahoo INC	Stock-Other	0.50%	+0.16%	+35.28%
23	✓		Stock-Other	0.50%	-0.23%	-30.69%
24	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.50%	—	+11.13%
25	META	Meta Platforms Inc-class A	Stock-Comm Services	0.50%	—	-1.39%
26	WMB	Williams Cos INC	Stock-Energy	0.50%	—	+9.87%
27	AMGN	Amgen INC	Stock-Healthcare	0.50%	+0.35%	+186.06%
28	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	0.49%	—	-4.38%
29	XLE	Ss Energy Select Sector	ETF-Other	0.47%	+0.10%	+50.42%
30	✓	Alphabet A	Stock-Other	0.46%	+0.10%	+34.77%
31	CMCSA	Comcast Corp-class A	Stock-Comm Services	0.46%	+0.23%	+107.81%
32	UTXZ	United Tech CORP	Stock-Other	0.45%	—	+12.67%
33	WFC	Wells Fargo & Co	Stock-Financials	0.43%	—	+15.71%
34	XLF	Ss Financial Select Sector	ETF-Other	0.43%	+0.17%	+75.00%
35	BA	Boeing Co/the	Stock-Industrials	0.43%	—	+14.63%
36	CVX	Chevron CORP	Stock-Energy	0.43%	—	+0.99%
37	PFE	Pfizer INC	Stock-Healthcare	0.43%	—	+5.72%
38	BND	Vanguard Total Bond Market	ETF-Other	0.43%	—	+20.77%
39	✓	MarkWest Energy	Stock-Other	0.43%	—	-13.32%
40	CSCO	Cisco Systems INC	Stock-Tech	0.41%	+0.08%	+27.98%
41	ET	Energy Transfer LP	Stock-Energy	0.40%	+0.11%	+39.32%
42	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.40%	—	+18.20%
43	WEP	Magellan Midstream Partners	Stock-Other	0.39%	—	+4.21%
44	T	At&t INC	Stock-Comm Services	0.39%	—	+4.41%
45	FXI	Ishares China Large-cap ETF	ETF-Emerging Markets	0.38%	+0.14%	+62.95%
46	KMI	Kinder Morgan, Inc.	Stock-Energy	0.37%	+0.10%	+29.42%
47	SLB	Slb LTD	Stock-Energy	0.37%	—	+18.49%
48	MDT	Medtronic plc	Stock-Healthcare	0.36%	—	+2.48%
49	VZ	Verizon Communications INC	Stock-Comm Services	0.36%	—	+8.11%
50	DIS	Walt Disney Co/the	Stock-Comm Services	0.36%	—	+23.32%

1–50 of 6,687

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2014-09-30	15317	$135.6B	23	1SPY 2AAPL 3EEM Top holdings2014-09-30 1.SPY 2.AAPL 3.EEM 4.IWM 5.UBS 6.EFA 7.MSFT 8.INTC 9.JNJ 10.OXY
2014-06-30	15405	$127.8B	28	1SPY 2AAPL 3UBS Top holdings2014-06-30 1.SPY 2.AAPL 3.UBS 4.EFA 5.IWM 6.EEM 7.MSFT 8.JNJ 9.INTC 10.73935A
2014-03-31	15415	$112.5B	27	1SPY 2AAPL 3UBS Top holdings2014-03-31 1.SPY 2.AAPL 3.UBS 4.EFA 5.IWM 6.EEM 7.38259P 8.MSFT 9.JNJ 10.JPM
2013-12-31	15784	$107.0B	30	1SPY 2AAPL 3EFA Top holdings2013-12-31 1.SPY 2.AAPL 3.EFA 4.UBS 5.EEM 6.73935A 7.IWM 8.38259P 9.MSFT 10.JNJ
2013-09-30	15485	$97.7B	27	1AAPL 2SPY 3IWM Top holdings2013-09-30 1.AAPL 2.SPY 3.IWM 4.EEM 5.UBS 6.EFA 7.38259P 8.GLD 9.JNJ 10.73935A
2013-06-30	14960	$84.4B	0	1SPY 2AAPL 3EFA Top holdings2013-06-30 1.SPY 2.AAPL 3.EFA 4.UBS 5.IWM 6.EEM 7.GLD 8.JNJ 9.INTC 10.38259P

Holding changes this quarter

UBS AG's most significant position changes for 2014-09-30: Sold out: Northstar Rlty Fin; New buy: Alibaba Group Holding-sp Adr (BABA); New buy: NorthStar Realty Finance Corp; Trim: Apache CORP (9990302D) — shares -82.67%; Trim: Ishares Msci Eafe ETF (EFA) — shares -18.10%.

Position changes disclosed by UBS AG for the quarter ending 2014-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AMGN	Amgen INC	+0.4%	+186.06%	Add
2	EEM	Ishares Msci Emerging Market	+0.3%	+32.54%	Add
3	IEMG	Ishares Core Msci Emerging	+0.2%	+467.32%	Add
4	CMCSA	Comcast Corp-class A	+0.2%	+107.81%	Add
5	OXY	Occidental Petroleum CORP	+0.2%	+47.65%	Add
6	BIDU	Baidu INC - Spon Adr	+0.2%	+97.79%	Add
7	CCI	Crown Castle Inc.	+0.2%	+739.37%	Add
8	INTC	Intel CORP	+0.2%	+15.06%	Add
9	XLF	Ss Financial Select Sector	+0.2%	+75.00%	Add
10	✓	Yahoo INC	+0.2%	+35.28%	Add
11	MSFT	Microsoft CORP	+0.2%	+12.12%	Add
12	FXI	Ishares China Large-cap ETF	+0.1%	+62.95%	Add
13	TD	Toronto-dominion Bank	+0.1%	+305.71%	Add
14	✓	Amtrust Financial Services	+0.1%	+9864.49%	Add
15	SUNEQUSD	Sunedison INC	+0.1%	+674.52%	Add
16	ET	Energy Transfer LP	+0.1%	+39.32%	Add
17	HD	Home Depot INC	+0.1%	+38.17%	Add
18	GMF	State Street Spdr S&p Emergi	+0.1%	+361.48%	Add
19	TWTRUSD	Twitter INC	+0.1%	+196.57%	Add
20	XLE	Ss Energy Select Sector	+0.1%	+50.42%	Add
21	✓	Alphabet A	+0.1%	+34.77%	Add
22	KMI	Kinder Morgan, Inc.	+0.1%	+29.42%	Add
23	BAC	Bank Of America CORP	+0.1%	+15.07%	Add
24	ET	Energy Transfer LP	+0.1%	+33.76%	Add
25	C	Citigroup INC	+0.1%	+34.79%	Add
26	CSCO	Cisco Systems INC	+0.1%	+27.98%	Add
27	MRK	Merck & Co. INC.	+0.1%	+18.54%	Add
28	GILD	Gilead Sciences INC	+0.1%	-7.23%	Trim
29	JNJ	Johnson & Johnson	0%	+8.78%	Add
30	IWM	Ishares Russell 2000 ETF	0%	+17.80%	Add
31	Z	Zillow Group, Inc.	-0.1%	-25.88%	Trim
32	DB	Deutsche Bank Aktiengesellschaft	-0.1%	-30.99%	Trim
33	✓		-0.1%	-20.45%	Trim
34	HYG	Ishr Ibx Usd Hiyld Cb Etf-ui	-0.2%	-39.22%	Trim
35	✓	American Realty Capital Properties Inc	-0.2%	-41.38%	Trim
36	VGK	Vanguard Ftse Europe ETF	-0.2%	-51.95%	Trim
37	WYNN	Wynn Resorts LTD	-0.2%	-50.78%	Trim
38	UBS	UBS Group AG	-0.2%	-1.92%	Trim
39	✓	Petsmart INC	-0.2%	-88.14%	Trim
40	✓		-0.2%	-30.69%	Trim
41	AAPL	Apple INC	-0.2%	-11.22%	Trim
42	HTZ	Hertz Global Holdings, Inc.	-0.3%	-92.41%	Trim
43	✓		-0.3%	-91.28%	Trim
44	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.3%	+0.75%	Add
45	WY	Weyerhaeuser Co	-0.4%	-95.87%	Trim
46	EFA	Ishares Msci Eafe ETF	-0.4%	-18.10%	Trim
47	9990302D	Apache CORP	-0.6%	-82.67%	Trim
48	✓	Northstar Rlty Fin	—	EXIT	Sold out
49	BABA	Alibaba Group Holding-sp Adr	—	NEW	New buy
50	✓	NorthStar Realty Finance Corp	—	NEW	New buy

FAQ

What is UBS AG and what type of investor is it?

UBS AG is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2014-09-30), the firm manages a tracked equity portfolio valued at approximately $135.6B, spread across 15317 disclosed positions.

What are UBS AG's largest equity positions?

Based on the latest 13F filing, UBS AG's top holdings by market value are: 1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $9.1B (6.7%) 2. Apple INC (AAPL) — $3.2B (2.4%) 3. Ishares Msci Emerging Market (EEM) — $2.2B (1.6%) 4. Ishares Russell 2000 ETF (IWM) — $2.0B (1.5%) 5. UBS Group AG (UBS) — $1.8B (1.3%)

What changes did UBS AG make in its most recent portfolio filing?

In the latest reported quarter, UBS AG made 50 notable position adjustments: 2 new positions were initiated, 30 existing holdings were added to, 17 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Northstar Rlty Fin; New buy: Alibaba Group Holding-sp Adr (BABA); New buy: NorthStar Realty Finance Corp; Trim: Apache CORP (9990302D) — shares -82.67%; Trim: Ishares Msci Eafe ETF (EFA) — shares -18.10%

What sectors does UBS AG focus on?

UBS AG is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 27.3% • Health Care: 17.4% • Financials: 13.4% • Communication Services: 9.1% • Consumer Staples: 8.7% • Energy: 8.6%