UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
According to The Zhihui Finance APP, based on disclosures from the U.S. Securities and Exchange Commission (SEC), UBS Group (UBS.US) has submitted its Q3 holdings report (13F) for the period ending September 30, 2026.
In the third quarter, UBS's total portfolio market value was approximately $770 billion, compared to about $790 billion in the previous quarter, marking a quarter-on-quarter decrease of 2.5%. The proportion of the top ten holdings was 13.77%, with a holding period of 23.7 quarters. During the quarter, UBS added 1,776 new holdings, increased 4,595 positions, reduced 4,231 positions, and fully sold out 1,033 positions; the portfolio turnover rate was 23.06%.
Top Five Holdings: Microsoft Reduced by Over 10%, Nvidia Remains at the Top
Semiconductor and accelerated computing chip manufacturer Nvidia (NVDA.US) ranked first, with approximately 81.12 million shares held, a holding market value of about $18.526 billion, accounting for 2.42% of the portfolio, a decrease of 2.35% compared to the previous quarter.
Consumer electronics manufacturer Apple (AAPL.US) ranked second, with around 46.9 million shares held, a market value of about $15.618 billion, making up 2.04% of the portfolio, a decrease of 9.47% from the previous quarter.
Software and cloud service provider Microsoft (MSFT.US) ranked third, holding about 30.33 million shares, with a market value of approximately $15.557 billion, representing 2.03% of the portfolio, down 15.47% from the prior quarter.
Semiconductor and basic software company Broadcom (AVGO.US) ranked fourth, with about 25.08 million shares held, a market value of about $8.807 billion, accounting for 1.15% of the portfolio, down 0.25% from last quarter.
E-commerce and cloud computing company Amazon (AMZN.US) ranked fifth, holding around 34.33 million shares, a market value of about $8.552 billion, making up 1.12% of the portfolio, up 0.27% from the previous quarter.
Ranked sixth to tenth in the portfolio are: Internet and cloud computing company Alphabet (GOOGL.US), SPDR S&P 500 ETF Trust (SPY.US), SPDR Gold ETF Put Options (GLD.US, PUT), SPY Put Options (PUT), and iShares Core MSCI EAFE ETF tracking developed markets equities.
Specifically, Alphabet holds about 23.91 million shares with a market value of around $8.226 billion, accounting for 1.08%, and the number of shares decreased by 5.60%. SPY holds approximately 10.42 million units, about $7.944 billion (1.04%), down 15.09%. GLD Put Option holdings were about 20.63 million units, around $7.858 billion (1.03%), with the number of units increasing by 1,276.64%. SPY Put Option holdings were around 9.61 million units, about $7.331 billion (0.96%), down 14.88%. The last ETF held about 71.71 million units, around $6.948 billion (0.91%), up 3.02%.
Industry Distribution: Technology Has the Highest Weight, ETFs Account for Nearly One-third of the Top 20
In terms of industry distribution, information technology remains the highest-weighted direction. Six tech stocks appear in the top ten holdings, making up about 9.84% of the portfolio, including three semiconductor and three internet platform companies; expanding to the top twenty, tech stocks increase to nine, accounting for approximately 12.26%. The financial sector has two spots in the top twenty: JPMorgan Chase (JPM.US) and UBS Group itself (UBS.US), jointly making up about 1.40%.
Index and commodity ETFs are also favored. Eight of the top twenty are ETFs, amounting to about 6.60%, covering four main exposures: S&P 500, Nasdaq 100, developed market stocks, and gold. Spot and options combined exposure related to the S&P 500 is about 2.26%, and gold-related exposure is about 2.16%.
Two-way Gold Options Positioning, New Position in SK hynix, Increased Stake in SpaceX
For new positions, South Korean memory chip maker SK hynix (SKHY.US) was the largest newly disclosed holding, with about 5.85 million shares and a market value of roughly $1.077 billion. In addition, UBS also added call options for electronic manufacturing services provider Celestica (CLS.US), and call options for laboratory testing services provider Labcorp (LH.US).
In terms of changes in holding proportions, the top five additions by UBS Group in the third quarter were: Gold ETF Put Option (GLD.US, PUT), Gold ETF Call Option (GLD.US, CALL), SpaceX (SPCX.US), ExxonMobil (XOM.US), and AMD Call Option (AMD.US, CALL). The top five sell-downs were: Eli Lilly Call Option (LLY.US, CALL), Nasdaq 100 ETF Call Option (QQQ.US, CALL), S&P 500 ETF Call Option (SPY.US, CALL), Amazon Call Option (AMZN.US, CALL), and TSMC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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