Invesco's Q3 Holdings Shuffle: Reduced Nvidia (NVDA.US) and Semiconductor Equipment Positions, SpaceX (SPCX.US) Holdings Surge to Over $10 Billion

According to Smart Finance APP, based on disclosures by the U.S. Securities and Exchange Commission (SEC), global asset management giant Invesco has submitted its third-quarter holdings report (13F) for the period ending September 30, 2026.

In the third quarter, Invesco's total portfolio value was approximately $1.27 trillion, up 0.8% from the previous quarter's approximately $1.26 trillion. The top ten positions accounted for 31.58% of the portfolio, and these holdings were maintained for an average of 27.2 quarters. Statistics show that during the quarter, Invesco added 134 new positions and closed out 100; increased holdings in 1,902 positions and reduced holdings in 1,755 positions, with an overall turnover rate of just 5.92%.

Top Five Holdings

Among the top five positions, chip design giant Nvidia (NVDA.US) ranks first, with about 321 million shares, a market value of approximately $73.246 billion, accounting for 5.75% of the portfolio. The number of shares decreased by 2.69% compared to the previous quarter. Notably, despite the reduced number of shares, its portfolio weight rose from 5.22% to 5.75%, mainly due to Nvidia’s share price increase during the period and overall portfolio value changes.

Consumer electronics giant Apple (AAPL.US) ranks second, with about 192 million shares, a position value of around $63.921 billion, accounting for 5.02% of the portfolio, with holding volume up 2.12% from the previous quarter.

Software and cloud computing giant Microsoft (MSFT.US) is third, with holdings of about 103 million shares, a market value of around $52.750 billion, accounting for 4.14% of the portfolio, with an increase of 2.59% in shares held compared to last quarter.

Storage chip manufacturer Micron Technology (MU.US) ranks fourth, with about 36.391 million shares, portfolio value at approximately $38.760 billion, accounting for 3.04% of the total, with holdings up 0.21% from the last quarter.

E-commerce and cloud computing giant Amazon (AMZN.US) ranks fifth, holding about 145 million shares, with a holding value of approximately $36.093 billion, making up 2.83% of the portfolio, with holdings up 0.73% from the previous quarter.

Positions ranked sixth to tenth are: chip maker AMD (AMD.US) (holding value about $33.042 billion, 2.59%), Google’s parent company Alphabet’s A shares (GOOGL.US) (about $31.445 billion, 2.47%), and social media giant Meta (META.US) (about $28.093 billion, 2.20%). Alphabet’s C shares (GOOG.US) are ninth, with a market value of approximately $22.750 billion, accounting for 1.79% of the portfolio. Semiconductor giant Broadcom (AVGO.US) ranks tenth, with a holding value of about $22.391 billion, accounting for 1.76% of the portfolio.

Industry Distribution: Information Technology is the Dominant Sector

From an industry perspective, information technology occupies the largest weight in Invesco’s 13F report, with six of the top ten positions (Nvidia, Apple, Microsoft, Micron Technology, AMD, and Broadcom). Alphabet’s two classes of shares and Meta, belonging to the communication services sector, occupy three spots; Amazon, in the consumer discretionary sector, holds one spot.

Heavy Bet on SpaceX, Semiconductor Hardware “Abandoned”

In terms of changes in position ratios, Invesco’s top five buys were: commercial space company SpaceX (SPCX.US), Microsoft, Apple, Meta, and cybersecurity company CrowdStrike (CRWD.US). Among them, SpaceX was not a new disclosure—Invesco already held about 3.8595 million shares last quarter and added about 113 million shares this quarter, a nearly 29-fold increase. The position market value reached approximately $17.634 billion, making it the thirteenth largest holding and showcasing the asset management leader’s strong optimism on the hardcore space technology sector.

By contrast, this quarter Invesco reduced positions in traditional semiconductor hardware and equipment giants. The top five sell-offs were: semiconductor equipment manufacturer Applied Materials (AMAT.US), semiconductor equipment company Lam Research (LRCX.US), Broadcom, storage device manufacturer Western Digital (WDC.US), and mobile ad tech company AppLovin (APP.US).